Last Updated on January 16, 2021 by NandiNN
Financial Planning for Women
If you are looking for epic financial advice for women to help you up-level yourself this year, then this is the right post for you.
As a young woman, I made a lot of awful financial decisions growing up, and now that I am in my 30s, I totally regret a lot of what I did.
But it’s not too late.
Financial planning for women has become a huge deal over the years and more women are now working harder to become financially independent.
If your goal is to have better control of your money, then you need to keep reading this.
We have plenty of financial planning tips for women like you to use in order to be successful and financially free.
I suggest taking advantage of as many free resources out there as you possibly can to ensure your finances make sense for you.
My goal here is to share with you what I know as well as to lead you to other resources so you can make better-informed decisions.
And that led us to write this post.
Our guest blogger today is Steven McMeechan.
He is a strategic marketing and communications specialist with over twenty years’ experience in senior marketing management roles across a range of industries including Information Technology and Financial Services.
He works for Capstone Financial Planning and lives in Melbourne Australia.
He is here to talk to us about powerful financial advice for women for improving their financial situation in life and work.
Whether you work for yourself or are employed by an organization, you will want to make time for this.
Today we want to focus on a few strategic financial tips you can certainly use today to ensure you become financially stable each month and moving forward.
Nobody ever wants to struggle financially and if I can help in any way, I will.
Here is what I really want to tackle in this post:
How to plan your finances as a woman
Financial planning for beginners how to get started
The best financial tips for women
Money management for women – What To Do
Before we list some of the best financial advice for women, we did want you to follow us on Facebook for more awesome ideas on saving or making more money. You can also follow us on Instagram for more tips.
We also wanted to take the opportunity to let you know that we use Affiliate links on some of our blog posts. This means that we could make a commission if you click on an affiliate link and purchase something.
Is it worth getting financial advice?
Taking the time to sit with a financial advisor at least once in your life can really help in boosting your savings, finding ways to cut expenses, give you tips on Taxes to get a better return and so much more.
A good financial advisor should help give you great money tips including a financial plan to help you feel more secure.
Every month is a financial planning month for me.
That’s because I am always wanting to stay on top of my own finances.
I messed up once, and now that I have a family, my priorities have really shifted.
I want to ensure that I and including my family are financially well off.
Do I strive to become a millionaire?
But you definitely want to take it slowly and work on things one step at a time.
We have a lot of amazing tips for those looking for ways to manage their personal finances, the goal is to just get started.
In terms of financial advice for women, what do I suggest?
Whether we want to admit it or not, most things we do in life begin and end with finances.
We need more to survive so we can pay the rent, eat, clothe ourselves and so much more.
Basically, in order to survive, we require some sort of income in order to get by.
These can either be achieved by finding a job that pays well or starting your own profitable business.
Obviously, they are nontraditional ways of getting money as well such as inheriting it, winning the lotto, investing, and so on.
Finance significantly defines how successful we will be in life and in business if we choose to go that route.
In order to improve your financial situation in life and in business, consider the following financial guidelines.
10 Finance tips for women to follow this year
1. Write Down Your Financial Goals
Don’t just say you want to become debt-free, or you want to buy a house.
I suggest writing down exactly what you want to achieve financially. When it’s on paper, you can actually work towards that goal and it becomes more real.
Having dreams and ideas is all fun, but making those dreams become a reality will take more than just thinking about it.
3 years ago, one of my financial goals was to make $5000 a month from home with a blog.
That became a reality only after I wrote it down, planned out exactly how I was going to achieve it, and made the changes to get there.
It definitely started off with me only making $84 my very first month but I was definitely determined to grow fast that I took in everything I saw on Pinterest just to help me become the success I am today!
The strategy here is to write down your financial and money goals using this planner and then proceed to outline the exact steps you will personally take to achieve that.
This could mean doing a lot of extensive research, using a financial advisor or simply asking someone for help.
Financial help for women is hard to find, but I am hoping with the steps outlined here, you can get a head start.
With this in mind, before you consider starting anything, I highly suggest you break down your financial goals into reachable goals that you can actually stick to.
Then proceed with eliminating all your debts if you have any.
2. Get Rid of Bad Debt Quickly
One of the best financial advice for women I can give to you all is to pay off your bad debts as quickly as you can.
Otherwise, you will keep giving your money away each time to something other than your future.
When you have credit card debts or student loans, the amount of interest you pay is ridiculous.
If you can make the conscious decision to pay your smaller debt faster, then use the extra money to pay off your bigger debts, you will be much happier.
You can not start working on your future without getting rid of that debt first.
I would suggest reading up on exactly how I paid off $10, 000 of debt fast right here.
You can also grab this tool – pay off debt planner I regularly use and recommend to keep you on track when paying off debt fast!
3. Start Budgeting This Year
Some of the best financial planning tips I ever received from my financial advisors is to create a budget and make it work.
This means crunching the numbers to ensure that I can afford my current lifestyle.
I went on a hunt and found some of the best budget planners for beginners to help me better define my budget. It wasn’t easy, but I found a few that I loved.
The budget I created worked well for me and my family.
I have tweaked and revisited my budget several times since especially if I felt that things are really tight.
At one point in my life, I was basically living paycheck to paycheck.
I can tell you that it was no fun at the time.
Financially fit women are constantly tracking where their money is going and you should do the same.
You want to create a budget that complements your lifestyle.
No more spending money that you do not have.
Here is a list of over 17 other places you can find free monthly budget templates you can use to budget your money right now.
4. Track Your Expenses
The best way to become financially independent is to know exactly where your money is going each month.
Every cent you make counts when you are really trying to become financially free.
Keeping a detailed record of everything financial is one of the best financial advice for women I got from another woman.
The goal is not just to keep track of every dollar that flows into or out of your bank account, but to categorize every dollar of revenue or expense.
That way you can quickly see what came in and was earned and what money was spent.
This information may seem superfluous at first, but it will be critical when you need to make strategic decisions about how to grow your finances or where to make cuts.
For example, I know for a fact I spend a lot on coffee each year.
Daily, it may seem like a simple $4.00 here and there, but at the end of the year, my coffee habits cost me just a little under $3000.00 each year.
That is a lot of money that I could be using elsewhere.
If you are not sure how much money you are spending on junk and unnecessary things, be sure to grab my FREE spending tracker today.
5. Financial Advice for Women Trying To Save Money
One blog post that truly inspired me was learning how to save 100, 000 in 3 years.
For 2021, my goal is to start a saving challenge to help me save over 10, 000 in 5 years.
This is me being realistic.
Obviously, things happen, but I will try my hardest to ensure that I meet those goals.
You do not need the full 100, 000 to feel accomplished it could be 10, 000 like me.
For that, you might need to grab my 52-week savings plans.
Here are a few examples of what to expect with the 52-week saving plans:
If you are serious about saving money so you can one day become a millionaire, then you need this.
We have flexible challenges that you can easily use to help you save some serious money in 30 days or over the year (52 weeks).
Whether you are looking to save $100 or $10, 000, we have money-saving templates you can use to reach your goals faster and easier!
Grab it now!
They are over 8 amazing challenges:
- Save $100
- Save $500
- Save $1000
- Save $3000
- Save $5000
- Save $10000
- Save $15000
- Save $20000
Grab the full bundle right here!
You might also like: How to Make an Extra $500 Per Month To Add To Your Savings
6. Increase your income
Personal finance for women is really on the uprise these days and I am so happy to be part of it.
For those that are looking to become financially free this year, I suggest looking at different ways you can increase your income to make ends meet.
You can decide to do a few things to make extra money such as:
- Ask for a raise
- Find a part-time job
- Start a Side Business
- Start investing
All of these will help you make more money.
The other day, I was in a Facebook group of women looking for tips on how to manage their budget.
One mother was really struggling and wondering how she was going to make her income of $1860 last monthly as she was barely surviving.
This broke my heart so much.
And some of the best advice for women in this situation is simply to find a way to increase that income if at all possible.
Even if you need to shift your hours or work part-time, that income can help to sustain for a while until you catch up, pay off debt, or find a better job.
If you don’t have a full-time job that pays well consider using your skills for other freelance work.
Here are a few ways I really recommend you do just that:
- Try Becoming A Proofreader From Home for Extra Income
- Find Out How People Make Money Transcribing from Home
- Find out How to Make $100 in 7 Days Flipping Things from Home
And one of my personal favorite ways of making extra money from home is making and selling printables online.
Sarah Titus an amazing blogger that I know and admire was able to make over $2 Million a year selling Printables.
Obviously, she is more advanced, but that doesn’t mean you can not have the same success.
If you want more inspiration, watch the video below to see exactly how a stay at home mom was able to make over $6K+ per month selling Printables!
As you can see, if you want my personal financial advice for women then I would tell you to increase your income on the side by selling printables!
I learned everything I know about making printables from Suzi!
She even gives you ideas about what you can make as printables to sell, how to sell them, and how to promote them.
It is one of the best side hustle ideas out there!
7. Financial Advice from Money Podcasts
I enjoy listening to podcasts that are helpful especially ones that all about finances and bettering your life.
I have gotten some of my best money tips for women from listening to epic money podcasts. More and more women are turning to podcasts every week to find ways to better manage the money they have.
There are a lot of great personal financial podcasts out there that will tell you how to plan your finances as a woman.
Finding the best money podcast for women on any given topic can take a bit of searching, so we did the research for you and came up with this epic list:
You can start with these money podcasts as they are action-packed with financial advice for women to use.
If you want more podcasts to help get your finances in order, check out this list of over 10 Money Podcasts you can listen to this year.
8. Build an emergency plan
Building an emergency plan is one tip I would suggest everyone having.
Honestly, I once lost my job and found myself pregnant with no savings, no spare cash, and nothing to my name.
I was completely devastated, scared, and cried myself to sleep for one week.
And I decided there and then, that I was never going to get myself in that situation ever again.
Because, to be honest, it’s not fun.
Emergencies do happen, so be prepared.
Creating an emergency family binder will ensure that your family is able to get through any crisis easily without wasting precious time looking for important information and or important documentation.
If you do not have a family emergency binder, it’s really time to get started on one today.
Go ahead and grab this “Go and Grab“ binder today!
9. Create a plan to invest
If you are serious about building wealth and you have actively started researching what financial planning for women entails then you are ahead of the game.
In other words, put your money to work my friend!
This is where investing comes in.
I will personally be taking a course on investment soon in the hopes of growing that side of my wealth.
I have researched and come up with one course I am hoping to take at the beginning of 2021!
I definitely suggest doing a bit of research before you put any of your hard-earned money into investments, it’s important to have a well-defined objective in my opinion.
Investing is definitely a long-term commitment, especially if you want to see your money grow.
You won’t be able to withdraw that money as it pleases you in case you are in a bind.
Here is a video you can quickly watch to see if this is for you or not:
10. Continue learning about finances
You want to be good at finances, which means you have to keep learning.
I look to those that have done really well to learn from.
You will find plenty of financial books for women like You Are a Badass at Making Money: Master the Mindset of Wealth.
Jen Sincero who is the author of the book was barely making enough money to scrape by until she decided to get serious about her financial situation.
Fast forward to a couple of years later and this fierce entrepreneur is now a New York Times bestselling author and you can absolutely tell that the changes she made have paid off in a big way.
I encourage you to read that book.
The 4-Hour Work Week: Escape the 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss is another amazing book I recommend.
Other places to find financial help for women is to read finance blogs for women like these ones:
Blogs like the Financial Diet are also extremely useful, and I suggest you give that a read too.
And of course this blog.
Check out all my career & finance posts and all my money-making posts here.
We hope you enjoyed our financial advice for women and how to be better.
Do you have your finances in order? Leave us a comment below.
More financial advice for women that you can read:
- 7 Tips For Single Women To Purchase Term Life Insurance Cost-Effectively
- Stop Letting Your Finances Control You – Frugal Tips for Women
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