How to Empower Yourself Financially
In celebration of Women’s Month, we’ve jotted down a list of some of the best money quotes and advice from powerful women to motivate you. In fact, these quotes might just give you that little push of motivation you need to take charge of your finances!
Be the boss of your money.
“Women often make the mistake of ceding control of their money to the men in their lives. Then, if they end up single later in life because of divorce or a death, they’re not in a good position to take control of their finances”. Kathleen Grace, financial planner and author of “Prince Not So Charming’’
That’s why she recommends continuing to manage your own finances throughout every stage of your life.
Prioritise your purchases.
“I like to stop and consider whether or not an expenditure makes sense in terms of my values, priorities and goals.“I’ve decided not to spend just by taking the time to reflect on whether or not a purchase helps me reach a goal or meshes with my priorities.” – Miranda Marquit, Award-winning financial writer.
As women, we’re constantly bombarded by marketing encouraging us to buy, buy and buy some more. That’s why it’s important, as Marquit said, to identify your priorities. If your priority is retiring early or travelling more, make sure you’re not getting tempted by a sale at your favourite store. Always remind yourself of where you want your money to go.
Extra cash? Don’t get into extra debt because of it.
“My favourite money-saving tip is to earmark windfalls and raises for specific financial goals, such as saving for an emergency fund or paying off debt.” – Natalie Bacon, financial blogger and certified financial planner.
Have you ever received a bonus at work? What about an inheritance or a refund you weren’t expecting? While it might be exciting in the moment to receive a big pay-out, try to use it in a smart way to better your financial life long term.
Take a snapshot of your finances.
“The only way you will ever permanently take control of your financial life is to dig deep and fix the root problem.” Suze Orman, financial advisor and motivational speaker.
It’s impossible to map out a route to your destination if you don’t know where you’re starting from. So take a “before” picture of your finances. That means opening every single financial statement—bank, credit card, school fees, store account—and take a look. Only when you have everything in front of you can you set priorities about what to do next.
In-debt and want to take control of your finances? Meerkat can help you! Contact us today and let our professionals help you feel more empowered regarding your financial future.