Daily money managers help people manage their everyday financial lives. Many clients and employers will want you to have finance-related education, such as a degree in accounting, finance, bookkeeping, or a closely-related subject when you want to become a daily money manager. Certification may not be required for starting your own business or even for some jobs, but it may improve your chances of getting the position or client you want. As far as skills as concerned, you will likely need a number of them, including those that involve using accounting software, budgeting, and paying bills.
In most cases, you will need some type of formal education to become a daily money manager, but there is no single degree that is always required. For some jobs an associate’s degree in a major like accounting might prove appropriate while for others a bachelor’s degree might be necessary. Associate’s degree programs usually include introductions to subjects like financial accounting, accounting principles, and cost accounting. Bachelor’s degree programs often go beyond introductory classes and include courses in intermediate and advanced accounting subjects. Since a bachelor’s degree program can provide you with more finance-related knowledge, some people may be more likely to hire you with such a degree.
The skills you will need for this job don’t focus only on finances. You will typically need experience and skill with creating budgets and paying bills to become a daily money manager. Often, skills with gathering documents for tax time, handling creditors, and reviewing bank statements are important as well. Some clients may need you to teach them how to use financial software on their own or ask you to help them create a system for keeping track of their finances, so teaching skills can also prove important.
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You can perform this job as a business owner or as an employee, though many daily money managers decide to start their own businesses. If you decide to start your own business, you will likely need a business license and liability insurance, based on the laws in your jurisdiction. You will also need a place to meet with clients once you become a daily money manager. As far as employment in this field is concerned, you may find a job with a daily money management company.
Depending on the jurisdiction in which you will work, you may eventually consider earning certification. This may help boost your credibility in the eyes of those you want to serve. You might find certification programs through a money managers', bookkeepers', or accountants' association, but the eligibility requirements can vary. Often, you will need a high school diploma and significant experience working as a paid daily money manager to be eligible.