6 Mistakes a Woman Should Avoid to Be Financially Independent

Injoy News | Dec. 10, 2017

You can find au00a0lot ofu00a0articles onu00a0the internet about topics like "How tou00a0help your man boost his financial growth." Womenu2019s financial independence often goes unnoticed.

Weu00a0at u00a0Bright Side want tou00a0encourage you tou00a0pay more attention tou00a0yourself and check how good you are atu00a0dealing with your own finances. Weu00a0gathered au00a0list ofu00a0the most common mistakes that many women make, thus exposing themselves tou00a0poverty.

Mistake u2116u00a01. Eyes wide closed

Women try hard tou00a0control their expenses. They count the change inu00a0supermarkets, keep au00a0record ofu00a0daily spendings, and even blame their partners ifu00a0they donu2019t express the same level ofu00a0thoroughness.

Itu00a0isu00a0commendable ifu00a0au00a0woman isu00a0determined tou00a0control all her expenses, but she should also think about au00a0wise distribution ofu00a0 income. Itu2019s better tou00a0depositu00a0 10% ofu00a0your salary directly into au00a0bank account and spend the rest according tou00a0your monthly plan. This will prevent you from tightening your belt during the month and keep your savings intact.

Mistake u2116u00a02. Illusion ofu00a0wealth

Every woman knows 101 ways tou00a0save money. But you canu2019t cut your expenses tou00a0anu00a0extreme minimum. Cheap things will have tou00a0beu00a0replaced oru00a0fixed, and you wonu2019t avoid new expenses.

All inu00a0all, au00a0severe austerity isu00a0au00a0good way tou00a0live from one salary tou00a0another. Itu2019s definitely not au00a0long-term strategy for managing your budget. Forced into certain boundaries, au00a0person will eventually break down oru00a0never break out ofu00a0them. Sou00a0away with au00a0financial shortage: better think how you can earn more.

Mistake u2116u00a03. "All that isu00a0mine isu00a0yours."

Au00a0family savings account inu00a0the bank, au00a0husband giving you money for everyday expenses, and almost all the property filed under his name isu00a0much easier... Ifu00a0you can recognize your life within these lines, all signs point tou00a0au00a0financial co-dependence within your family.

Inu00a0this case, you can learn au00a0lot from your husband. Put your foot down about personal savings. A u00a0family budget isu00a0au00a0great idea that shouldnu2019t put anu00a0end tou00a0your own interests.

Mistake u2116u00a04. Constant self-sacrifice

British sociologists were amazed byu00a0the results ofu00a0their research that showed how single women are richer than married women, even ifu00a0they have the same income! Inu00a0other words, single women have more spare money. Itu2019s sad, but itu2019s au00a0fact: weu00a0often pour everything into our home and refuse tou00a0buy even small things for ourselves. The same behavior isu00a0not asu00a0common among men asu00a0among women. Single oru00a0married, they always have some savings for personal expenses. Women should learn tou00a0dou00a0itu00a0too.

Mistake u2116u00a05. Resistance isu00a0futile

Your colleagues asked you tou00a0chip inu00a0$50 for the office party, and your friends invited you onu00a0au00a0night out tou00a0au00a0very fancy place. Constant acceptance ofu00a0such invitations will have au00a0damaging impact onu00a0your budget. There are several ways tou00a0solve this problem. First, you can come upu00a0with au00a0good reason that will excuse you. However, the direct explanation that you canu2019t overload your budget wonu2019t make you look bad inu00a0peopleu2019s eyes. Weu00a0know itu2019s easier said than done, but itu2019s better than spending au00a0lot ofu00a0money just tou00a0please others. Au00a0very strict rule applies here: unbearable expenses make au00a0short road tou00a0poverty.

Mistake u2116u00a06. Impulsive buying

Many working women like tou00a0overcome unpleasant emotions with shopping. Caution: you may not notice the moment when au00a0happy shopping trip turns into anu00a0addiction. Itu2019s totallyu00a0OK tou00a0relieve stress this way and encourage yourself with au00a0new item youu2019ve been dreaming ofu00a0buying. However, pointlessly buying everything you see during anu00a0emotional time wonu2019t work tou00a0your advantage. When you shop like this, you can beu00a0easily caught byu00a0marketing tricks, including discounts and sales. Goods ofu00a0low quality will make you spend even more fixing them inu00a0the future. Nothing pleasant about this. Beu00a0wise: donu2019t make impulsive purchases.

What financial tips help you? Share your experience inu00a0the comments!

Illustrator Ekaterina Gapanovich for BrightSide.me

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