Women benefit greatly when they take charge of their finances.
This applies to women from all walks of life, whether they are fresh out of college, a working professional, a homemaker or even a retiree.
As a Certified Financial Planner Practitioner, I’ve found that the advice I give my clients often sounds like what you get on a plane before takeoff: “If the oxygen masks fall off the plane, you need to help yourself before helping others.” . others.”
The same goes with your finances. If you can prioritize helping yourself and taking charge of your finances, you will be better able to serve your loved ones throughout your life.
After all, women statistically live longer than men. At some point in her life, a woman is likely to be the manager of her own finances.
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I am convinced that the decision to be proactive with your finances, rather than reactive, will be beneficial.
Women are best served when they can do the following three things:
Know where you stand today
Ask yourself the following questions: What is my cash flow? What is my net worth? How much am I saving? How much am I spending? Is my emergency fund enough?
Knowing where you are today will help you take control of your money and be intentional with your current and future financial resources.
Make and achieve goals
Think about what you want to achieve with your money: Is your goal to buy a new car or a new house? Is it to retire at a certain age? Or to save for your children’s college education?
Regardless of your goal, being able to achieve it requires planning. The sooner you are able to identify your goals, the sooner you can work towards them.
Prioritize financial independence
Whether you are single, married, divorced or widowed, education and knowledge will always be powerful.
The ability to make your own financial decisions confidently as a woman is important – so make it a priority to fill in any gaps you may have around money to help build that confidence. The only constant in life is change; Financial independence means being financially stable regardless of the situation.
Taking responsibility for your finances is an important part of living a balanced and fulfilling life.
I invite you to empower yourself and learn more about your financial statement today.
If you’re not sure where to start, consider working with a financial advisor who can help guide you to a life of financial goals.
Jenny D’Ambrosio, a financial advisor at Warbuton Capital in Tulsa, is a certified financial planner practitioner and a qualified financial planner through Kaplan Financial Education. She is focused on working with wealth collectors, retirees, women and young professionals.