Recently, while working with a client, I was helping to develop a budget for spending. It was simple enough...I had the client collect past information so that we could then figure out what his monthly crunch was. He listed all of the expenses he believed he had on a monthly basis and then I pushed him for a few more that I believed he had left off of the list; I even asked him for confirmation that there was nothing else he had not mentioned. From there, we came up with a number that he needed to meet on a monthly basis. Sounds easy.
A couple of weeks later, I learned of some new expenses that were not listed in the budget and yet were quite important for him to cover. The client had known about them all along, but he had been in denial of the need to account for them on a monthly basis. By not being honest with himself, he put himself in a sticky situation where the budget we had created was outdated from the start.
The awareness for today is to be honest with yourself. There is no shame in the truth...it is simply that, the truth. By trying to hide things (like expenses), we put ourselves into much more precarious situations than need be. If we are honest from the beginning, then we are truly aware of the big picture.
~Paul
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Monday, January 14, 2008
Honest Budgeting
at 2:23 PM
Labels: Business, Communication, Trust
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1 comment:
I believe this is a post where your integrity really shines. The greatest thing I have learned in working with you, is your ability to be sincere and truthful about how you are spending your time/money--which undoubtedly makes you an excellent choice for assisting others build their resources. But I digress....
Recently, I was talking with a friend. Part of realizing how I respect and honor a relationship that I want to build upon is being honest about things I hide (example: expenses and investments). There is a freedom in allowing ourselves to be vulnerable about the common experiences we all share--like purchasing products for consumption or otherwise.
I came across a quote I love by William Morris that reads, “Have nothing...that you do not know to be useful, or believe to be beautiful.” I didn’t know about the quote before now but am fortunate to live this motto in most areas of my life. It reminds me of a conversation I had with a former colleague about how money is spent--often on things or items that are not valued or lose their value quickly through remorse. I began wondering what this says about us as consumers and business people? I remember vividly how that conversation (of over a decade ago) really changed my perspective.
Just today, a colleague reminded me that our greatest business relationships are deepened with the knowledge of whether we’re “spending” time/resources/energy or “investing” it with them. Do we spend our time-resources on things that hinder the bottom line or are we investing our resources for growth?
One of my newest resolutions (the best resolutions take longer that a mere year to pursue) is to be a woman of value--honoring my time/energy/resources and consuming resources that add value to my health and well-being--investing in myself and the clients and customers I serve.
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