In your home life you might be married. If so then it is assured that either you or your spouse is in charge of the money. You are responsible for knowing what money is coming in and how much money is going out. You must also make sure that you are on top of making sure that all the money you spend is an appropriate amount of money. You will be in charge of keeping costs low. Well, in the elections you watch on television and read about in the papers you will see that there is a lot of money going into winning the election. For this reason, just like at home, there must be someone accountable for the money that is coming in and going out for the campaign.
Money managers are so important and not just in a numbers standpoint. One of the biggest problems that election campaigns is that there are far too many candidates who run out of money. The issue isn’t always a lack of funding, although there is always a want to have more money, but rather that the money isn’t being spent in the right way.
It is not just the job of the money manager to make sure the money is spent appropriately, but rather to work closely with the campaign manager to make sure that you both are on the same page about how effectively to spend the money. When is it best to spend money on television ads. When is it best to start viral campaigns and how much will you pay key staffers for their continued efforts. These decisions, if made incorrectly, can really throw a wrench into the campaign and potentially cost someone the election. Knowing how the money is spent and making sure there is some available is a key role in the election that isn’t well appreciated.