11 Habits of Women Who Are Never Broke

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We talk about women who are always successful, and in this post, we are going to talk about the habits of women who always have money.

Yes, you can be one of them too!

#1 They save like a boss.

A good rule is splitting your paycheck amount into 3 parts – not physically but more like an abstract split.

Now, out of this, 1/3^rd is what you should keep aside as savings. The other 2 parts you can use for expenses and for investing.

If you’d like to, you can even split it 4 ways and in the 4^th part you can save as an emergency fund.

You can even open a different bank account to put aside your savings so it’s not easy to reach.

#2 They set and meet financial goals.

Dream. Set Goals. Achieve. Repeat.

Set short-term and long-term goals.

Set your goals to be achieved within a specific timeframe. When you have a plan of action, it’s easy stay focused. This will help keep you disciplined.

#3 They prioritize tasks.

Here’s a handy tool/activity that will help you out immensely.

At the start of every morning, or better yet the night before, list out your tasks for the day/next day and beside each task set priorities ranging from 1 (top priority) to 5 (least priority).

Start with the top priority tasks and work your way down as you go through the day.

This will help keep you less distracted from the lesser important tasks that you might have chosen to pick up before your important tasks thereby leaving you with little or no time for what actually matters.

Checking off tasks on your list at the end of the day is just another reason to look forward to doing this or am I the only one who loves this part? 😉

#4 They know how to motivate themselves.

Positivity is something everyone, including you, needs more of especially taking into account our cynical world.

Keep yourself motivated even when you are unable to meet your month’s financial goals.

Think happy thoughts. Be inspired.

Tell yourself motivational quotes/sayings every morning. Follow people who put out influential content that exudes positivity.

#5 They get financially educated.

I cannot stress the importance of this enough!

If you have no idea where to begin, take an online class or enrol in a short educational course on this subject.

It will be of immense help. It will inform you of practices you might not have known exist or at the very least, it might help get you out of debt.

Being financially informed is so important in today’s world.

Besides, learning and gaining new knowledge is NEVER a bad thing.

#6 They keep a personal ledger.

Maintain a ledger book for yourself.

This will help you keep track of your income and expenses. It will also help you analyse where most of your money is being spent.

Using this information, you can make lifestyle changes accordingly.

You can use personal finance apps on your phone just to make sure you don’t forget to pen down an expense.

#7 They know how to set and keep a budget.

Set a budget for the entire month beforehand and make sure you stick to it as much as possible.

At a micro level, you can also set a budget for every day.

This will help you live within your means instead of feeling the urge to spend it all on girls/guys night out every weekend.

#8 They have an emergency fund.

Any incremental amount that you get apart from your salary – be it from the jams you sell as a side business or selling your previously loved clothes at a garage sale perhaps, keep it as a rainy day/emergency fund.

It will come as a relief in case of emergencies.

Got a cheque from your aunt for your birthday? You know where to put it!

#9 They invest.

Invest in stocks, mutual funds, gold, whatever you find convenient but INVEST!

You may not realize the returns in the immediate future but long-term returns end up contributing quite a bit if you come to think of it.

Be it for medical expenses or even at the very least as an emergency fund.

Let it grow! Let it grow! (sing in Elsa’s Let It Go tune from Frozen)

#10 They can differentiate between ‘needs’ vs ‘wants’.

Separate your needs from your wants. You might want that Chanel bag that you’ve been eyeing for a month now but do you really NEED it?

Make it a habit of asking yourself if you actually NEED something before going ahead with any purchase.

This will help curb your expenses in a big way because you won’t go out shopping on a whim or heading out every weekend to party just because you’ve been working the entire week.

Learn to mentally say NO to yourself to things that don’t fit in your daily/monthly budget.

#11 They trim extra costs with calories.

Look for ways to cut costs and stay within your budget.

Sales, coupons, and offers are a girl’s best friends anyway. Cut down unnecessary costs like subscriptions you don’t use or partying every weekend. It pays to be frugal (pun intended!)

Pack a lunch box from home instead of eating out.

Carry a water bottle instead of buying one every day. Walk the extra bit or cycle to work instead of taking a cab. This will also keep you fit thereby eliminating gym costs.

You can read the book Rich Habits – The Daily Success Habits of Wealthy Individuals by Thomas Corley and 7 Habits of Highly Effective People by Stephen Covey.