Finance is an essential element for managers and leaders who need a good grasp on accounting, finance, money, cash flow and other financial concepts. An extension to this is a firm understanding of personal finance. A leader who become personally bankrupt loses all professional credibility, and because of this, I believe that personal finance articles will be a useful addition to leadership blog.

We often hear about celebrities making bad investments, and becoming bankrupt in celebrity gossip columns or occasionally the television. You rarely hear of the (unfortunately) all-too-common instances where normal business leaders also commit the same mistakes. You may mistake this gap in reporting as meaning that business executives are far too switched-on financially to make the same blunders as the rest of us, but you’d be wrong! The press simply don’t find those stories as notable or sensational as the other material they decide to print.

So make no mistake – a broad knowledge on personal finance will assist you in maintaining credibility in the world of management and leadership. Hearing that a leader or manager is particularly wealth adds instant respect because you understand that they have clearly been successful so far in their career.

 

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