Women and Money: The Top 11 Smart Financial Tips For Women

Why do a lot of women give their financial security to their spouse or significant other and by doing so allow death to lead them into poverty?Why do a lot of women spend more money than they earn and later become mired into debt?

Most women that tend to make smart money choices are known to be assertive,open to change and have an optimistic outlook .It is believed that our problems with money are often a sign of problems in our lives and relationships.When we work on money issues, many other problems tend to take care of themselves or when we work on other problems,majority of our money problems take care of themselves.

For a lot of people, money is an emotionally charged issue.It sometimes represents power,love,or control especially when it comes to relationships.Our beliefs concerning money and our emotional attachments to money, strongly influences the ways in which we spend and also handle money.

If you are not exactly where you ought to be financially, try and study what drives you emotionally on issues of money.Also try to figure out the psychological blocks that are keeping you from becoming financially independent.Before you read the below tips,have a look at the importance of being financially independent through this hub :Why women who are not financially independent are likely to face violence.

Below are some of the most important things women should do for themselves and their financial future:

1. Never rely on someone else, for instance a boyfriend or husband for your financial security.Author of the book "Prince not so charming" says that women make a great mistake of giving control of their money to the men in their lives.Then when they end up single, like most do, maybe as a result of death or divorce,they aren't in a good position to take control of their finances.She encourages women to manage their finances in each and every stage of their life.

2. Set goals- Setting financial goals and building a financial plan is the key to financial success.Always write your financial goals on a paper and be specific as to when you want to get there and what you are planning to do to make it happen.

3. Never use money to make yourself feel awesome/good.Do things that promote your creativity and self respect so that you don’t necessarily have to seek those feelings through spending a lot of money.

4. Always be involved in the everyday management of your family's finances and also talk about money with your spouse. If you will not allocate time to manage your money, you will in the long run not have any money to manage.Take time to track your money.Otherwise money gets frittered away if its not managed.

5. Get an education- Women with college degrees make more money than those without degrees.Education generally expands your mind as well as your earning potential.In addition,always educate yourself about investing and money management.

6. Get an emergency fund.This will prevent you from getting into a financial hole that might be difficult if not impossible to get your way out in case you loose your job or incur a large bill that could force you to take a heavy credit debt card.

7. Don’t take your spouses or partners debt when you get married.It is advisable to wait until both of you are out of debt before saying I do or you can protect yourself with a pre-nuptial agreement.

8. Never spend more than you earn- This is one of the greatest secrets to creating wealth.You cant always have it all.Choose a fancy lifestyle and still like to become that millionaire next door.Live below your means if you plan to be one.

9. Never let the fear of the unknown,fear of loosing money or fear of failure stop you from investing.
10. Shop smart- Going for shopping without a list will definitely cost you more than when you shop with one.Shopping with a list is important as it will help you live below your means and helps you avoid impulse buying.For example you can make a list of those items you must have in your wardrobe: the number of bloused,jackets,jeans and shoes.Say goodbye to recreational shopping, and hello to increased savings.
11. Learn from the mistakes you have made in regard to money.Don't let this mistakes hobble you.
Your financial security is all dependent on your beliefs,attitudes about money and your willingness to take your financial future into your hands.