Wanna find out the habits that can help you always have money? Check out these 21 habits of women who never run out of cash!
Habits Of Women Who Are Never Broke
If you want to take from financially successful women, the best way to do that is by adopting their habits.
Check out how they act and adopt those habits of women who always have money to become financially successful too!
1. She Saves Like A Millionaire
Women who always have money know how important it is to save. A great rule of thumb is to spend 50% on your essentials, 30% on others, and 20% on savings – also known as the 50/30/20 rule.
2. She Diversifies Her Income
When you’re focusing on getting more income, it’s important not to put all your eggs in one basket and diversify your income.
When one source of income is not going as planned, that means that you have other sources of income that you can fall back on.
Sources of income can include:
- Dividend investments – where you receive monthly or quarterly dividends for your investments in the stock market. I’m a huge fan of low-cost index funds.
- Passive Income – where you receive money regularly without doing any active labor. This is like making money while you sleep – who doesn’t want that?
- Rental property – this can be a long-term or short-term rental (like Airbnb).
- Selling items from your home – anything that has value and you don’t need anymore.
3. She Tracks Her Income & Expenses
Tracking your income and expenses will give you so much insight into your behavior around money. Where are you spending the most? What money is coming in?
If you catch yourself spending more and more money and inflating your lifestyle, you can change your behavior if necessary (and desirable).
4. She Knows The Importance Of A Budget
A budget is crucial if you are beginning to get insights into your spending. Try to start by creating a budget for your personal situation and adjusting it monthly as you find out where you spend the money coming in.
The most important thing is that you can use your budget to reach the financial goals you have set for yourself. Whether you want to pay off debt, start investing, or start building up passive income.
5. She Can Wait Before Buying
It can be hard to avoid buying things right when you see them. When you have the money in your bank account, this can be hard to resist for many.
When you want to buy something, the rule of thumb is to wait two weeks. If you still want it, you can get it. You will often find yourself being perfectly fine without the item and even forgetting that you wanted it in the first place. I speak from experience.
6. She Knows What She Values
Women who are smart about money know what they value. She knows that there are some things that she loves spending money on, and she absolutely has no problem spending money on that.
On the other side, she knows what she doesn’t value and doesn’t shy away from cutting back on that.
If you value getting your hair done, taking that dream holiday, or taking good care of yourself – go for it! Spend aligned with your values, and you will get there!
7. She Knows When To Say No
Another habit of women who always have money is to know when to say no.
Saying no is just as important as saying yes. As a wise friend once told me, if you say yes to others, you are saying no to yourself.
You have to know what you want and act accordingly.
8. She Knows How To Deal With Her Debt
For many of us, it is impossible to start our post-college life debt-free. This is nothing to worry about; all you need is to know how you want to deal with your debt.
Start paying off your highest-interest debt first, and move on to the next big interest rate. Or, if you like, you can start by paying off the smallest amount of debt and move on from there.
9. She Knows What She Is Worth
One side of the equation is to save money, and the other side is to make money. Financially successful women bring in as much money as they can.
It is important to stand up for yourself and ask for what you are worth.
Many women find it hard to ask for these kinds of things. Please do! If you don’t ask for it, the answer will be no for sure.
10. She Sets Financial Goals & Works Towards Them
When you want to pick up your financial habits, you should set goals for them. Whether you are setting up new years resolutions or setting short-term goals, having a plan is super important.
If you have a hard time setting goals, ask yourself this: what does my ideal day look like?
From there on, you can dream about what you want to achieve in life. Set goals based on that, and you will work towards your dream life and design the life you love.
11. She Prioritizes Her Tasks
When you have set your goals and are working towards them, it is easy to get overwhelmed. To avoid overwhelm, list out the tasks you want to be doing the next day.
Instead of writing down 30 things that you want to do that day, focus on 3 things that will move the needle for you.
This will make sure that you spend time with the most impact, and you will reach your goals faster.
12. She Gets Up Early
You know that saying: win the morning, win the day. It would help if you lived by that.
Put in the work and reap the fruits of your labor later. Get up early and create that amazing morning routine so that you start your day in the best way. Meditate, start a gratitude journal, and write down the top three things you want to get done that day.
13. She Can Motivate Herself
There are times when you can’t reach your financial goals, and you still keep yourself motivated despite that.
14. She Has A Positive Money Mindset
A positive money mindset is essential. It is all about your relationship with money, and you are responding to money.
Make some time to repeat affirmations daily to attract wealth and money into your life, or read a book about the Law of Attraction to learn about manifestation.
15. She Is Financially Educated
When you want to excel at something, education is crucial. You get a basic education on any topic by googling and doing some research yourself. Taking a course on it could be a great alternative as well.
It does not have to be a big thing. Something as simple as freeing up 15 minutes a day to learn something new can be enough. Either way, they know what needs to be done with their money to save and invest.
16. She Has An Emergency Fund
If you want to be one of the women who always have money, you must have an emergency fund. There will be times when you need a rainy day fund.
Even when it is not needed, it will give you huge financial peace knowing that you will cover unexpected expenses when they arise.
17. She Invests Her Money
Know how to invest your money, and you will be fine! I know the stock market can be scary for some. Get over your fear of the stock market and start investing right now.
Many think that you need to be rich to invest in the stock market, but this is far from true. I started investing when I earned a $26,000 salary and am doing perfectly fine.
18. She Knows Her Net Worth
Your net worth is basically all your assets minus all your liabilities. Assets are things you own, like your savings account and your investment accounts. Liabilities are things you owe, like your student loan debt, mortgage, or credit card debt.
It is a great idea to calculate your net worth and know where you stand financially. Your net worth is a great financial snapshot to know where you are at this moment.
19. She Has A Side Hustle
Whether you have a 9-5 job or have your own business, there is always room for a side hustle.
There are a million ideas for successful side hustles. Think about the hobbies you have, the passions you want to teach others about or put some time into something totally different, like walking dogs or delivering meals.
20. She Always Gives Back
If you are giving to others, it will come to you. That is truly what I believe. This can be in the form of acts of kindness, volunteering, or giving money.
Whether you tip generously, give money to charity, or take your friend somewhere for her birthday. The money you spend will come back to your twofold.
21. She Saves For Retirement
Saving for retirement is extremely important, especially for women. Women live longer, they are more likely to need to provide for others, and then there is the gender pay gap where women earn $0.80 for every $1 a man earns.
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Founder of Spark Nomad, Radical FIRE, Journalist
- Expertise: Personal finance and travel content
- Education: Bachelor of Economics at Radboud University, Master in Finance at Radboud University, Minor in Economics at Chapman University.
- Over 200 articles, essays, and short stories published across the web.
Experience: Marjolein Dilven is a journalist and founder of Spark Nomad, a travel platform, and Radical FIRE, a personal finance platform. Marjolein has a finance and economics background with a master’s in Finance. She has quit her job to travel the world, documenting her travels on Spark Nomad to help people plan their travels. Marjolein Dilven has written for publications like MSN, Associated Press, CNBC, Town News syndicate, and more.