Archive for April, 2012
Aligning Integrity and Finance – It is Possible
The most common financial mistakes managers make
In many organizations managers are not taught how to manage their budgets. In some cases managers are given budget responsibility but not budget authority. In these organizations it takes 5 levels of signatures to get a few hundred dollars approved. Worst, managers are given both responsibility and accountability but little financial training. As a result, budget forecasts are a guess; managers tend to spend whatever they have, because they are afraid if they don’t, their next quarter budgets will be reduced. Revenue goals or plain budget goals are not based on data from customers or trends; they are simply numbers picked from the sky. If the organization grew 5 % last year then 10 % would be a better goal for this year. The problem with financial projections starts when programs and projects get either overfunded or underfunded based on the initial projections which were not made with financial integrity.
What is financial integrity? » Read more: Aligning Integrity and Finance – It is Possible
Personal Finance and Investing
It can sure seem at times that when it comes to personal finance and investing, armchair experts are a dime a dozen. Each one with his or her own formulas and theories on how you should manage your money, and the best way to invest it for the highest rate of return. Now for a while there it was real estate.
Now the recent recession sent them all packing though, as home prices plunged, and so many paper millionaires who had invested everything in real estate were left penny less. So then where are all those investment advisers now with their fool proof plans on how to get rich with interest only home loans?