In a world not always favorable to women, be under control of your personal finances becomes an important tool for the achievement of the dreamed financial independence, which the highest level of empowerment ever.
With that in mind, We decided to make a special Blog post for our beloved #BossBabes to help and inform you with great tips and advice in order to you spend more time and money with what really matters.
In times where women still earn less than men, it is more than ever necessary to hit the key of financial education for full control of personal finances.
Knowing this, our first tip is:
- Educate yourself about money management and investing.
Don't rely on someone else, like a husband or boyfriend, for your financial security. It will only be possible to make your money pay you off if you have full control of where it is and what is done with it. And when I say this, I refer to the importance of knowing all the bank charges of fees, taxes, percentages...
Most people give a lot of money to the bank without even realizing it through monthly fees that seem low, but you have no idea how much you are missing out on accumulating in the long run.
- Set Goals
Do you know what is the best technique to achieve a goal? See what you desire.
And so it is important to have different goals. For example, the trip you will make on the next vacation has a different deadline than your retirement planning that differs from your personal project of buying a home of your own.
So, you need to have different reserves according to the particularities of your goals.
Within that monthly amount, you have determined to save, establish how much goes for each of your goals.
- Stop the emotional spending
Emotional spending occurs when you buy something you don't need and, in some cases, don't even really want, as a result of feeling sad or even happy.
Avoid impulsive buys, don't purchase things you didn't plan to buy. Instead, stay tuned to sales and special deals. Sign up to keep posted on our offers.
Online stores are usually a cheaper choice, which always offers good discounts for their clients.
- Spend less than you earn
This is the secret to creating wealth. When you know exactly what you spend your money on, the control over it gets much bigger. In this way, you can see very well where your savings are escaping.
And the good thing is to write everything down because it is through the small expenses that you lose a lot. Do not forget that the few dollars you spend on your lunchtime coffee should be multiplied by the days of the week, and that amount should be multiplied by the weeks of the month and so on.
So the more you control, the easier it will be to accumulate and spend only what you need.
- Learn the investment game
Recent research shows that women make better investors than men because they spend more time researching investments and are better at matching their goals to their investments.
Investment is the only way to create wealth through small investments over-time. Don't let the fear of losing money, fear of failure, or fear of the unknown stop you from investing.
But be careful with the promises of fast-easy money, schemes that offer a high-value return for a short period of time. As Warren Buffett says: "When promised with quick profits, respond with a quick 'no'."
All right guys, that's all for now. We hope it will help countless women take full control of their lives through full independence. While inequalities, unfortunately, still exists, we can avoid these disadvantages through financial education.
We would love you to share this post with your friends to help us spread these words. Also, comment below your interests about the next Blog posts. This is an open community of empowerment for all Brazilian Spot Babes.
Much Love ♥