Move Out Already: The Basics of Financial Emboldenment for Young Females

We touched on it before, independence is priceless. 

For all women, whether finance professionals or not, financially savvy or not, financial wisdom does apply to you. Yet, as we keep trying to empower women, we often miss the point -  you already have the power; you just need to be emboldened to use it.

Let’s return to the basics:

Budget. 

Establish boundaries for self-reliance.

Track expenses. 

While many women can track every calorie or macro, expenses often go overlooked. Track them all - every single one. A daily $5.25 latte can accumulate to $2,014.80 annually, so investing that amount at 7% interest can yield nearly $140.00 per year. 

Build credit wisely.

Avoid high-interest debt, but don’t neglect to build credit. It opens doors to better loan terms and various financial opportunities. 

Live below your means. 

Enjoy life while living modestly. Owning a credit card, building credit, and still living within your means is not only possible, it’s the only way you should do it.

Learn to negotiate. 

Don’t settle for terms without questioning. Negotiation is crucial, especially when it comes to your salary. 

Diversify income streams. 

Explore multiple income sources, invest wisely, and engage in a side hustle to maximize financial potential. 

Utilize retirement plans.

Take advantage of 401(k) or Roth IRA options. Don’t assume you’ll be young forever and let free go to waste. 

Beyond equipping women for the cut-throat, boy’s club of the finance industry, my goal is to teach each woman how to grow the pie, split the pie, make more pies, handling wealth with unadulterated independence and confidence.

Remember, whether your parents have a cushy wealth you are living off of or not, independence is priceless. 

So, move out already.