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Top Financial Tips for Women
01 July 2019
Are you trying to get a better hold of your
money? Do you wish to save up like a pro or invest in a better future for you
and your family? Sure, handling money is hard and often very tempting, but it’s
more than possible to be smart with your budget if you know how.
Figure out your budget
Start whit this tip in mind: if you want to
get into saving, you need to know your budget. Knowing exactly what you earn
and what you spend every month is vital for your saving plan. Struggling to
make ends meet at the end of the month is the main reason why people reach for
their savings or not save at all. So, know how much money you have at your
Save all the extra income
When you get your tax refund at the end of
the season or when you get an unexpected rebate, don’t hit the stores to treat
yourself. Save the money on the side and keep your shopping within your monthly
budget. The same goes for your thirteenth pay and all the work bonuses. This
will boost your saving significantly and motivate you to save even more.
Don’t hesitate to ask for deals
Even though it might be embarrassing at the
times, don’t hesitate to ask for deals. Who knows, you might get out with some
amazing prices! Asking for discounts don’t
hurt and can bring you good results. Being friendly, respectable and nice can
go a long way. For instance, see if your farmer’s market offers a discount for
locals or whether you can get some deals if you buy in bulk. Oftentimes, you
can get 10 percent off and a smile.
Invest like a pro
Investing is the single most effective and
smartest thing you can do to ensure your long-term wealth. However, investing
can be very tricky, especially in this financial climate that’s very
capricious. If you want to be sure you’re making the right decision, you can
always invest in gold bars
or coins that will always hold its value or even get pricier and pricier as
time goes by. Plus, the supply of gold is in reduction, so you can expect
prices to go up every day. If gold or other precious metals aren’t your thing,
you can consult with an advisor and seek help when it comes to investing.
Pay your debts
Ensure you check your credit score and pay
off everything that you owe. A clean credit slate will provide you with better
interest rates and you’ll pay less in the long run. Some places even offer info
on credit score movement and tips on how to boost your personal credit score.
Don’t be scared to get down and dirty
Another great way to save money and become
more financially conscious is to stop relying on stores that much. Sometimes,
everything you need is right there, at your house. For instance, if you have
some time, try your hand at DIY projects. If you just bought your first
property, it’s much smarter to invest in a $50 tool than to spend $100 on
plumbers and electricians. You need to have guts to tackle issues and some
creativity to overcome problems, but in the end, you can expect to save up a
lot of money on DIY repairs, updates and projects.
Think of the future
You never know what future holds, so it’s a
great idea to put away a portion of your earnings for all those cases of
emergency. Don’t wait to start saving for the future! No matter how small you
start, it will add up and come in handy during the hard periods of life. Also,
don’t forget about your retirement. Women usually live longer than men which
means you need to have enough money to keep you safe during your retirement
years. Basically, it’s never too early to start saving for the retirement (the
earlier you start, the more money you’ll have for a comfy retirement). This
way, you’ll be able to support yourself once you stop working and maintain the
standard of life you’re used to today.
Being smart with your earnings and savings
will not affect your lifestyle if you do it right. You can still enjoy your
little luxuries, but now you can expect to enjoy them even after you change
careers, go through rainy days and retire!