Are you struggling to keep up with your money goals? Saving money is not that easy for sure. Some of us realize the importance of money only when we are broke. Earning and saving money with the right mindset is like nurturing a baby with all the care and love.
Have you ever analyzed the Habits Of Women Who Are Never Broke? The women who are always wealthy are the ones who love their money and they take utmost care of their money. When you start taking care of your money as a mother does for her baby, saving money is never going to be a struggle.
Being broke is easy, it does not take any effort. But being systematic towards your money and being healthy isn’t very tough too.
I too had to go through some financial struggles. By end of the month, finding money in my wallet was a real struggle. I had no idea where did my money really go. I was such a careless person, I never tracked my earnings and expenses.
On the other hand, I was seeing some wealthy women (my friends, co-workers, and relatives) around me who were totally independent. They earned well moreover they saved well. They had money every time they needed it, even on the last day of the month.
I decided to follow their steps and first of all, stopped being jealous. Planning was the first step towards my money goals. I created my own money goals and plan. And started my journey towards being a woman who is never broke.
6 Habits Of Women Who Are Never Broke
I used to envy these women who were never broke. They paid all their bills on time, and never cribbed about not having money. And it was me and a few more friends who were crying over money in every meeting of ours.
I wanted to be rich, just like the wealthy women around me. I also wanted my broke friends to become richer and wealthier.
Seeing both types of women, I analyzed myself and acquired these habits of women who always have money.
She Sets Her Financial Goals
First thing first, it is important to have money-saving goals to see some success in saving money. Hence, following a few rules is the key to financial freedom.
- Dream Big
- Set Some Realistic Goals
- Set Short-term And Long-term Goals To Achieve Better Results
- Define A Time-frame To Achieve Your Goals
She Has A Solid Plan Of Action
Loose plans are never going to be fruitful. That is the fact. To achieve your goals, loose plans are not going to help you ever. A solid plan includes achievable goals and a roadmap to achieve them. It also contains short-term and long-term goals.
Make a solid money plan of action just like other wealthy women and you will be amazed to see your wealth growing rapidly.
She Saves Every Penny
One of the best habits of women who are never broke is that they value each and every penny they earn. A penny saved is a penny earned. Wealthy women follow this rule and save maximum money whenever they can.
Pro Tip – Whenever you have extra money, add it to your piggy bank. Every single coin that you have in spare should go to the piggy for your wealth creation.
She Lives Below Her Means
It seems to be a tough habit of women who are always wealthy. But trust me, this single habit has helped me to save hundreds of dollars every month.
I started considering that I have earned less than the actual amount. For example, if I receive my paycheck of $1000, I consider it as $700 only and put the excess amount into my savings account.
This way I easily save $300 each month, which is an extra amount of saving for me.
She Has Multiple Money Baskets
Yes, everyone needs to have multiple money baskets. A wealthy woman never puts all her money in one basket. She has a diversity of funds like some part is put in her savings account and some of that is invested in other places like stocks.
She Not Just Saves But Also Grows Her Savings
It is not enough to just add your extra money to a piggy bank. You need to grow your money every day. Having a savings account is the best option to grow your little savings.
Banks will pay you interest over the period of time on your savings. Another great way to grow your money is to put it in fixed deposits or recurring deposits to earn some extra interest on each penny you have saved.
A savings account is a risk-free option for growing your money every day. And the best option to grow your money involves a little risk.
Investing your money in equity markets like stocks and mutual funds can be a bit risky as the markets can be volatile. But by taking a little risk you can grow your money faster.
Dividing your savings into different types of risk baskets like No-Risk, Low-Risk, and High-Risk investment options; you will be able to have a steady growth in your savings.
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