Ever wondered what it would be like to control millions (or even billions) of dollars? For chief financial officers, it’s an everyday reality. The financial controllers of large companies spend their days reviewing income and expenses, working on profit improvement projects, approving expenses, and making tough calls when it comes to company capital. If this sounds stressful to you, it may be because you can’t relate on a personal level. For most people, the household budget is the biggest budget they’ll ever manage – and they simply don’t think of running the household like a company.
You may not realise it, but you’re the de facto CFO of your household. You’re responsible and accountable for what happens with your family finances. The good news is that you can learn from professional CFOs; by applying a few basic principles, you’ll be able to improve your financial position and reduce your money stress.