Financial Budgeting For Women


Life is hard enough for a woman without having to budget. However, a lot of women find themselves in debt during at least one point in their lives. Finding a good medium of comfort and financial stability is key to having a solid monetized future. So where can women cut costs without feeling like they’re missing out on something? The answer isn’t as hard as you would think. Here are five of the biggest mistakes that women make when it comes to finances.

Don’t Assume That Job Will Last Forever

This is a huge mistake that both men and women make. If you have a great salary, make sure that you are putting money away. Even the safest of jobs are seeing layoffs right now. Don’t assume that you’re going to have your current finances are permanent. Put money away for hardship and don’t touch it. Pink slips come on a whim and you want to be ready for them in the event that they make their way to your office mailbox.

Frivolous Spending

This doesn’t meant that can’t have lunch at a fancy restaurant every once in a while, but you don’t need to eat there every day. Cut out the frivolous spending by planning ahead. If you cooked too much food the night before then save the leftovers for work the next day. Do you really need that new dress or that new handbag? You probably don’t need it. You may want it, but you don’t need it.

Leave Your Credit Cards At Home

Only have one credit card in your wallet at a time. If you have a lot of credit cards, you are going to be more likely to spend. You should always have a credit card on you because of emergencies, but having open lines of credit at such easy access could prove too tempting. Leave them at home or close out your accounts all together. Only use credit cards that offer cash back or have a great rewards program for your daily purchases.

Don’t Wait Until Tomorrow To Save

Act right now! Everybody is guilty for putting of his or her saving technique. “I’ll start next month after I pay off my credit card.” This is a very common philosophy. Don’t wait to save money. This is something that you should have already been doing. Start today and you will feel better about yourself.

Not Using A Detailed Budget

People have a way of thinking in generalities when it comes to their budget, if they use a budget at all. Factor in everything from your daily food consumption to your entertainment to your future investments. There should be a section for stuff that you want, but there should also be a section for things that you don’t expect. Some of these could be car repairs, home improvements, or medical bills. When you use a detailed budget, you utilize every aspect of your salary and your wants over your needs.

Utilizing Convenience

Many people will overpay for products or services because they are convenient to them. This could be a charge at an ATM machine, paying a delivery fee for a pizza, or even buying items that are cheaper elsewhere. Many products can be found for an extremely discounted rate online, but people want that instant gratification. If you want something and you don’t need it immediately, search for it online. You could be saving anything from twenty dollars to one hundred dollars in an instant.

Saving money is hard, but it will pay off in the end. One of the biggest reasons people have a hard time budgeting is because they do not think before they purchase. Considering the future is essential for obtaining financial stability. Keep on top of your finances and make a detailed budget that you can follow for the best results in the long run.

This post was written by

jason – who has written posts on Budget Clowns.
Father of three and married to a lovely women. Always looking for ways to save money, and invest it properly for my children's future.

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