The worst financial advice I ever received was from an accountant and I am one.

Well, I became one… because we need more good accountants, actually we need great ones. I became one and you can too. Accountants are people who do accounting and may also carry out the auditing or checking of a company’s books and records. You can be a qualified accountant and receive a formal delegation, such as mine (I undertook university studies and received a Bachelor in Business, majoring in accounting and went on to complete further studies with CPA Australia) or you can be a life student of finance and money.

The act of ‘doing’ accounting doesn’t actually require a university degree. Some of the best accountants I know haven’t undertaken university studies at all. What made them great at business and with money is that they took the time to learn and understand money, finance, business and indicators of business health. Of course, without being qualified you can’t charge for advice or open a practice but you can run your household better, you can make more informed investment decisions and you can be informed when you do visit your accountant so that you know the advice you are getting is good advice, no scrap that, you will know the advice you are getting is great advice!

Knowledge is Power

In 1995, I left school and attended Power Business College in Newcastle, NSW. I am not even certain if it still exists but something about it stuck with me and shaped much of my learning in the years after… their tag line was “knowledge is power” and in my opinion, never a truer word spoken. It’s not the kind of power that you have to wield over others, although I have recently come to learn that some people can view accountants that way (Lynda Steffens, Accountant and Founder of The Small Business Project talks about how often people view the accountants superpower ability to be able to absorb loads of information as more villain than superhero and I have absolutely experienced that but that’s a story for another time!), but it’s the kind of power, the kind of superpower, you can use to your advantage.

Make knowledge your Superpower

If I only get one point across to you, it would be – you can do this, you can learn about money and finance, you absolutely can. Not all of it, but more than enough for you and your family to be free from financial failure. Knowledge IS power, it is the power to manage your household, the power to make great decisions, the power to know when you can enjoy more and the power to know when to hold back, the power to help others along the way and the power to control your money and not let it control you! The power to know when you receive good advice and the power to know when it is bad advice.

After that terrible financial advice I received in my early 20’s, I determined that I would never allow myself to be in that position again. I have been in finance and accounting now for over 20 years (see – if you know numbers you can even work out my age!) and I have been able to achieve my personal financial goals, help numerous businesses succeed at their financial goals (and challenge them to have bigger goals too) and also help a lot of individuals, friends and family along the way.

Knowledge is power but financial knowledge is superhero level power. Don’t leave it to others when you can find your way through this.

Exec One Team is here to help you

I believe in this superpower, I believe that together we need to make it happen but whether you achieve superhero power or not, the destination we reach is dependent on the direction that we determine and then take. Our personal and business goals are no different. Determining our destination and then making sure we get on the road to that destination is the only way we can ever hope to actually get there. What destination have you chosen for your business and/or your personal finances? Do you need a wealth coach? Do you need budgeting and finance training or your own management accountant to help you achieve your goals? Would you like to have a virtual assistant who can take some of your workload? What do you need to help you achieve your superhero status? If you aren’t sure, we are here to help. Exec One is committed to backing you in your business and personal goals and has the skills and experience to help you get there. Call us on 07-5636 9481 to see how Exec One can help you determine and reach your goals.

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5 thoughts on “The worst financial advice I ever received was from an accountant and I am one.”

  1. Found your comment section 😀
    I have chosen to feature you in my Women’s International Day post this week on ‘Amazing Women’.
    You have an amazing story & talent which will empower other women to reach their financial dreams!
    Bless you,

      1. You’re most welcome! I love your passion in empowering women to reach their goals financially to live their best lives.
        Especially in home ownership, having a place to truly call home, getting out of the cycle of poverty & the insecurity of renting is so important for peace of mind.
        Bless you,

        1. Home ownership for women breaks a cycle of hidden poverty we have here in Australia. Single women, single parents are often paying rents much higher than a mortgage so it only stands to reason that they use those funds to build equity for themselves, especially for retirement as often superannuation has taken quite a hit during child rearing years.
          Thank you again! Heather

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