Chapter 4. Financial literacy strategies for women

 

There are many strategies to help women financially and guide them to financial security and freedom. Education and empowerment of women should be the crown jewel of any financial plan. 

 

How to

Financial education about money management, investing, and protecting are not always offered at school or available at home. They are left for each person to experience. This information is stumbled upon in many cases, but women learn valuable life lessons through the process while desiring a safe financial passage. 

Here is a list of options to choose from or complete, depending on where you are in your financial cycle:

1. Reconcile your relationship with money
2. Set financial goals and evaluate your personal financial cycle
3. Adopt a budget and keep pertinent records
4. Understand your tax obligations and benefits & think of how to increase your take-home income lawfully
5. Eliminate debt for the purpose of living beautifully with financial security and freedom
6. Adopt an emergency fund and use it wisely
7. Establish a saving methodology for each goal
8. Always keep health and other insurances active
9. Establish a personal retirement account in addition to a workplace retirement account
10. Create an emergency financial kit & keep all documents up to date

 

Practice

Now you know many ideas and strategies to help yourself and women reach for financial security and freedom. Think of paying it forward and discuss your experience with a friend or a family member.

 

Congratulations! You can move on to Chapter 5. What can women do collectively?

To review the full module on Financial literacy for women, click here.