Who said that money doesn’t define success? The two are so commonly intertwined that it can be hard to separate them sometimes. And while we know money isn’t everything, having a nice financial cushion to fall back on while simultaneously making waves in your industry doesn’t sound like the worst thing in the world.
Although everyone’s money situation is different, there are undeniable universal financial habits all successful women practice—a stunning realization is that women are savvy AF with their money. Looking to take your finances and career to the next level. Regardless of what your goals are, these tips can help you make money moves and become the kind of woman you aspire to be.
1. They prioritize building an emergency fund
If there’s one thing successful women are about, it’s independence. They want to know that they can rely on themselves in all avenues of life. At the end of the day, having a nice financial cushion isn’t a luxury for successful women—it’s an absolute must. So, they’ll make adjustments to their budget as needed, avoid splurge purchases, and live below their means in order to build their emergency fund.
2. They strategically save and spend
Successful women don’t buy into the trap that money is
“bad”or “evil.”
Instead, they simply view and respect it for the tool it is and use it wisely. Optimizing to save, includes things like reassessing, canceling, or consolidating subscriptions on a regular basis, or opting to meal prep and cook at home. That said, this doesn’t mean that successful women don’t spend money—because they most certainly do. However, making these small, daily lifestyle changes helps them save more and strategically put their leftover money into whatever’s most meaningful to them. They’ll focus on spending on things that bring them joy, whether it be traveling, a night out with loved ones, and so on. This mindset also helps them avoid impulse or emotional purchases, which only boosts their bank account.
3. They don’t avoid their finances
Money blindness is a real thing—out of sight, out of mind, right?—but neglecting to check in on your finances out of fear of what you might see is one of the biggest indicators of an unhealthy relationship with money. Which is why successful women don’t avoid looking at their finances. They relish the opportunity to do so. Women who are thriving in life know that the numbers tell a story and can give them insight into ways they might be overspending or need to adjust their budget. That’s not to say they don’t get scared or anxious over what they might see—they’re still human—but they’ll remind themselves that checking in on their finances is an act of self-love. And this reminder is what gives them the courage to move forward, despite their fear.
4. They passively grow their wealth
Another universal talent successful women possess is the ability to grow their wealth without having to lift a finger. They’re financially productive in every single aspect, and strategically place their money in high-yield savings accounts, long-term investments, and retirement portfolios—
“utilizing the power of compound interest.” After all, women work hard for their money, and passively growing their wealth lets their money return the favor tenfold.
5. They take advantage of credit cards
Credit cards often (and unfairly) get a bad rap. But successful women know better.
“Credit cards can be a slippery slope for a lot of people." However, when you use them responsibly, they can reap a lot of benefits.” This is why successful women commit to making on time payments, only buying what they know they can afford, and having a low credit utilization in order to build a pristine credit score.
Furthermore, successful women also make sure their credit card fits into exactly what they need. If they’re planning a vacation, they’ll opt for a travel rewards card so they don’t have to pull from savings to float their trip. Or, they’ll take advantage of a cash back credit card to get rewards for purchases. Whatever the case may be, they make their credit card fit into their lifestyle—not the other way around.
6. They reward themselves
Contrary to popular opinion, successful women do not hoard money. While they are undoubtedly savvy savers, they also know how to treat themselves when the time is right.
“When you eventually reach one of your goals, you should give yourself credit! It may motivate you to continue working towards your goals if you know there’s something fun waiting for you once you get there,”. And though these rewards can range from simple to lavish, they will never break the bank, so successful women can continue building their wealth.
7. They trust the flow of money
Money comes and goes, and successful women know this. Rather than get caught up in how much money is leaving their bank account, they trust that more will flow right back to them. You should understand that it’s natural for your finances to fluctuate, and this belief releases you from a scarcity mindset and helps you live in a natural state of abundance. Trusting the flow of money is also what helps you make genius financial moves. Successful women are not caught up in the emotional charges of money, and handling money clearheaded gives them the ability to make financial calls to the best of their ability. When it comes down to it, they’re all about making their money work for them, saving where they can, and ultimately enjoying the fruits of their labor. Adopt these principles and apply them to your own life, and in no time, you’ll be the kind of success story that makes headlines.
Adapted From: The Every Girl
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