Let’s talk about money. Chances are if you don’t have a good understanding of money: how to manage it, how to save it, and how to grow it, you will take those same money management skills and behaviors with you into the workplace. Would you run a business the same way you run your personal finances? Many of you might say “yes,” and others may say “no.”
I’m a firm believer that knowledge is power. As an administrative professional supporting executives and managers, it’s essential that we understand money so we can better partner with our bosses in the workplace. They often times have budgets to oversee, revenue goals to meet, and expenses to monitor.
In the business community, there is also a critical relationship between time and money often referred to as “time is money.” Many administrative professionals have the responsibility to coordinate schedules and calendar meetings for their executives and managers, which can be challenging. Do we use our time effectively in the workplace? Do we sit only in meetings that are necessary? Do we hold one another accountable in those meetings? Is the best flight always the cheapest flight even though it may take longer to get there? How much is your time really worth?
Outside of taking business and finance-related classes in college, I’ve chosen to take a personal interest in money. I believe money can enhance our overall well-being, or it can restrict us in many ways. For nearly two decades, I have read countless books and magazines to get smarter about money. This has enabled me to make better financial decisions in my personal life, which has also carried over into my professional life. Here’s a snapshot of a few books in my personal library related to money and one magazine that I read frequently:
- The Millionaire Next Door by Thomas J. Stanley and William D. Danko
- Cold Hard Truth on Men, Women, and Money by Kevin O’Leary
- The Money Class: How to Stand in Your Truth and Create the Future You Deserve by Suze Orman
- The Laws of Money by Suze Orman
- Money magazine
As administrative professionals, we have the ability to help the bottom line by coming up with new ideas to generate revenue, reviewing financials, identifying ways to save money, and helping our bosses to maximize their time through strategic calendar planning.