[featured-image single_newwindow=”false”]
Have you ever wondered what you would do with 1 billion dollars? Recently, the Mega Millions lottery was 1.5 billion dollars. As lottery fever swept the nation, the question of what would you do with 1 billion dollars was the topic of many lunch conversations.
[callout]This post is part of a series based on the book Today Matters: 12 daily practices to guarantee success by Dr. John C. Maxwell.[/callout]
While I don’t play the lottery, I must admit I did ask myself what would I do with a billion dollars. Over lunch, I and several members of my team shared how we would spend our money. Of course, there were the standard responses: quit my job, purchase a luxury car or new house, extravagant vacation, and college education.
Once we moved past the standard responses, we discussed our dreams. One individual shared they would like to open a school for underprivileged girls. Another individual wanted to work with veterans. So, what would I do? I would tithe to my church, set up college funds for my grandchildren, and buy a new house.
While our goals were well-intentioned, research has demonstrated many lottery winners end up blowing their winnings. Why? Because they don’t have a financial philosophy. Your financial philosophy drives how you make decisions concerning money.
As a child, I remember my great-grandmother sharing her financial philosophy with me. She told me to give 10% to God, save 10% and live off the rest. My great-grandmother also told me not to borrow money from other people. She was very wise.
I would love to say I always followed my great-grandmother’s advice, but I didn’t. Over the years, I learned through many mistakes the importance of making good financial decisions. In his book Today Matters, John Maxwell gives three reasons simple truths about finances. They are:
- Money won’t make you happy
- Debt will make you unhappy
- Having financial margins gives you options
We should strive to be a river and not a reservoir.
[shareable cite=”John Wesley”]Earn all you can, save all you can, give all you can.”[/shareable]
As a leader, you will be responsible for managing budgets and making financial decisions. The financial choices you make every day will give you options and move your organization forward.
What is your financial philosophy?
Your leadership guide,
Kim
Dr. Kim Moore | Your Leadership Guide | kimdmoore.com
0 comments