If you work for a business, then you are either trying to bring revenue to it or cut its expenses. If you work for a non-profit, then you participate in fund-raising efforts. If you work for a government agency, then you try to spend as little of its budget as possible.
It’s a Job
Managing money isn’t the first skill we associate with motherhood, but motherhood is a job, and every job is about money. Mom has to learn how to pay for the things her baby needs (e.g., diapers, formula). She has to learn how to pay for the things her child needs (e.g., school supplies, clothes). She has to learn how to teach her teenager how to pay for the things they need (e.g., too many to list). These skills transfer to the workplace where Mom uses them to budget for her team.
Disclaimer
ICYMI, I’m not suggesting that every woman needs to have a child in order to be a good leader. I’m saying that motherhood is, by default, leadership training. In the final installment of this series, let’s look at how moms learn about handling money both for the short-term and the long-term.
Short-term Savings at Home
Everyone needs to learn how to live within their means. At home moms have extra decisions to make regarding the household budget. For example, when buying clothing for her rapidly growing toddler, must the clothes be brand new? If her child is going to outgrow their clothes in a few months, then why not thrift shop?
Short-term Savings at Work
Leaders have to learn how to stretch a dollar. At work leaders have extra decisions to make regarding the office budget. For example, when purchasing furniture for the break room, must the tables and chairs be brand new? If clients aren’t going to see them, then would refurbished or gently used tables and chairs work?
Long-term Savings at Home
Moms have to prepare their children for the future. This is not always fun. At home this may look like teaching a child delayed gratification. For example, Mom stays strong and denies her child permission to buy the $60 video game now because that money would have to come from the savings account set aside to buy her child a car in two years.
Long-term Savings at Work
Leaders have to prepare their team for the future. This is not always fun. At work this may look like teaching the team delayed gratification. For example, a leader stays strong and denies her team permission to leave work early on the Friday before a holiday weekend because there is a backlog of sales calls to follow up on. Those follow-ups could fill next week’s pipeline.
It Isn’t Really About the Money
Money isn’t really about money. It’s about what you can do when you have money and what you can’t do when you don’t. A mom learns to consider her child’s feelings when making money decisions at home. When Mom is a leader at work, she’s practiced at considering her staff’s feelings. In terms of money, motherhood teaches women to influence through vision casting not force. It trains women to learn their team members’ emotional reactions to stimuli and use them to push the team to do good work. It reminds them that the only failure is to stop trying.
How do you think motherhood prepares a woman to handle a budget at work? Please share in the comments.