GUIDE FOR WOMEN TO BECOME FINANCIALLY INDEPENDENT !!

Many people have written a plethora of books about how to boost the potential of men to become financially independent. But, what about women? Of course, nobody talks of that. But, this article is all about the mistakes that women should avoid to become financially independent.

MISTAKE 1 – EYES WIDE CLOSED

No doubt how astonishingly women try to curb the extra expenses and try to bring the expenditure to the minimum. They make an earnest attempt to stop the money from going in vain by making all sorts of calculations at the supermarket, buying only one thing rather than two if not necessary and, fighting with their partners to save money. But, instead of working hard they should get work smart by collecting at least 10% of their salaries in their bank account so that it does not pose any issue at the time of crisis and, you are at the safer side.

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MISTAKE 2 – ILLUSION OF WEALTH

It is essential to consider the fact that you cannot get away with the expenses at once. All you can do is replace or fix the cheap things. Curbing your costs can be a great exercise to manage your budget, but in long-term it is not as effective as expected. As an alternative, you can find more ways of earning and increasing it

MISTAKE 3 – ALL THAT IS YOURS IS MINE

A family savings account, all the property under your husband’s name, asking your husband even for small and miniature expenses depict the level of your co-dependence. It highlights that you are highly dependent on your partner for a lot of matters. But, now no more. The need of the hour is that you open your account to enjoy a sense of being independent. Even though, having a family account can be useful but, having it at the cost of your freedom is not a good idea.

MISTAKE 4 – CONSTANT SACRIFICE

Single women tend to have more spare money as compared to married women, as proven by research. Single women are richer because married women spend every speck of their earning on their family. They do not retain anything for themselves. The idea of sacrifice is so strong that women neglect to buy even small things for themselves. But, the game is a bit different when it comes to men. They always have some money for themselves. So, women should learn this from and give up the habit of self-sacrifice or else; it’ll be a steep road ahead. It’s high time for you to think about yourselves. Make sure that you do not forget to live for yourself as well! 

MISTAKE 5 – RESISTANCE IN VAIN

There would be times when you will get invitations to attend a party, your kitty party invitations, a family function or a party in your office. But, hold on. The letter does not come alone. Along with it comes unbearable and unwanted expenses which will do nothing except for the fact that they’ll overload your budget. Now, you need to find an appealing excuse to save yourself and escape from this situation. But, claiming that coming to the function will add on to your budget is not a sad excuse either. Afterall, it’s your money! You’ve to be cautious regarding its use. So, it’s not essential to be a part of every party. Or else, with every party, a part of your budget will destroy.

MISTAKE 6 – IMPULSIVE BUYING

Many women fix their stress by going shopping. But, excessive and impulsive shopping can take a toll on you. Remember that! Ensure that you don’t buy everything that you adore because this is not going to work to your advantage. But, it will only overload your budget. Discounts and sales are yet another manipulative way to fool women into buying a lot of commodities but, you’ve got to have control of your urge to buy such things. Beware and avoid impulsive buying.

Happy saving!!

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