Financial freedom for women as a major goal has been on the rise in the past 10 years, all over the world. Back in my parents day it wasn’t something many thought of because the norm was that once you married your husband would become the provider. That old stereotype no longer suits us. Women stay single longer or become single parents on a regular basis. It is good to see that many now take charge of their financial outcomes. In saying that it’s a major goal for women to become financially free, it is also something that seem to elude many even after setting it as a goal. In this post I would like us to discuss why this is the case.
You probably were told the old story to go to school, get good grades, get a good job and work your butt off. So you went and got decent educational qualifications (which more than likely landed you in debt – in the US for example, people are now more qualified than ever, yet have the biggest debt levels ever!) – Let’s say you even got a decent job with decent benefits. Yet it is still difficult for you to get a handle on your finances.
As a woman in 2017, you might have found yourself asking, “Why am I still broke when I earn a decent salary?” and “How can I change this?” The answer to both is within YOU. Financial freedom for women begins with you.
The impulse purchases, poor or lack of saving, frequent trips to the ATM, unwise loans, late payments, postponed meetings with your financial advisor or deferred personal audits, and other financial mishaps can directly be attributed to your underlying and subconscious values, understanding, and beliefs about money. The good news is that once you realize that the first steps to financial freedom for women is to get out of your own way, the positive financial results start flowing in.
So what can you do to start turning things around financially?
- Understand your spending habits
The survival of a capitalist economy relies on high levels of consumption. Big business relies on the media to assist in achieving this end. Newspapers, magazines, television, and radio bombard consumers with images of products, services, and goods in an effort to convince them that they would be happier, more interesting, smarter, and sexier once they purchase, and consume. Essentially, the media attempts to reprogram the average consumer to believe that material items will make them complete, happy and at peace. Financial freedom for women is within your grasp once you are aware of these factors and avoid getting caught in the web.
Before you go on your next shopping spree, here are some questions to ask yourself before you hand your credit card over to anybody:
Do I actually need this item?
Am I feeling inferior to (person’s name) because she/he can afford (material item)? How long will this item relieve me of this feeling (and I can tell you, it will be till the first time you wear it, when you decided that it doesn’t look as good on you anyway!)
Do I want to buy this to make the people that I want to attract like me more? If I have to pretend to be someone else I am not and go in debt for them, are they really worth it?
What is the real feeling I am trying to cover up with these purchases right now?
Would this purchase move me forward to my goal of financial independence?
Where could I better use this money I am about to spend
- There is strength and greater perseverance in numbers.
Tell your closest friends about the importance of financial freedom for women, tell them your goal in becoming financially free and get them involved. If they then still urge you to spend when you told them not to, reconsider their friendship! Real friends support each other, and don’t encourage negative behavior.
You are probably not the only one going through this transition and the support of like-minded people will optimize your chances of successfully attaining your goals.
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