How to Achieve Financial Independence as a Woman? 

financial independence

Do you want me to tell you what the studies show regarding financial independence among women? Well, the numbers leave much to be desired. While the politicians of today say they are fighting for women to get equal pay with men, women still get less. Also, according to the Organization for Economic Cooperation and Development (OECD), women are less financially educated than men. Apparently, achieving financial independence should start with proper self-education and planning, for sure. Let’s see what we could do here:

Read, girl, read!

I know news about inflation and stock markets might not be the most interesting thing for you to read. Still, take your time to read at least a few pieces a day about saving habits and personal finances. Read those 33 ways of saving money or how someone has become a millionaire. In other words, look at best practices and try to adopt them.

He is not going to always be there for you

Sometimes, women are used to having their men do all kinds of financial stuff. Like, remember how many times you have calculated your household’s net income? But, ladies, I have got bad news for you. He is not going to always be there for you. Of course, it’s nice to have him around doing all that difficult stuff. But one day you might have to do this all by yourself. So, just bear this in mind and start preparing for the worst.

Earn it, and then save it

The golden rule of saving is to earn money first and to spend less that you earn. It’s sometimes really hard to cut costs of several things, say not to buy those Gucci winter boots. But remember that overspending is not your goal. Just try to make a list of the most necessary items and stick to it.

Invest in yourself

This one is again about education. But this time you just need to add more skills to your skill-set. Allocate some of your resources on gaining more knowledge and experience, boost your professional value. Then use your skills to market yourself and to become more successful in your career. Find a career mentor or a role model and try to reach out for them. Ask them questions directly. It is surprising, but successful people often take the time to share some really nice tips with their followers.

Go back, check, rethink

Having a financial plan in place is cool. But circumstances might change and the things once set can be useless. As a matter of fact, you need to be ready to reconsider and revise all your steps. Being flexible enough to alter a plan is as important as making it.

Now you know how to start achieving financial independence. I do not say it’s an easy path. But it is surely worth taking!


Also published on Medium.

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