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7 Common Money Mistakes Women Make & How To Avoid Them
Alright friends, let’s get real about money. Today, we’re diving into seven oh-so-common money traps that we ladies often fall into – and how to sashay 💃 around them like the financial queens we are! 👑 Let’s talk about the 7 financial mistakes women make:
1. The ‘Budget? What Budget?’ Syndrome
- So, you’ve been giving your budget the cold shoulder, huh? We get it, numbers can be scary. Most of the time, we find clients just want to avoid it. It’s “easier” that way. But here’s a secret: budgeting can actually be your BFF. Start with something super simple (like, kindergarten-level simple). A one-page budget is your gateway to being the boss of your bucks. We want you to simply start. Just get a rough draft on paper. You can edit it later. Set a ten minute timer and see what you can get done. Trust us, it’s MUCH better than letting those wrecking balls (anxious thoughts) bang around in your head.
2. The ‘Oops, Spent Too Much… Again’ Slip-Up
- Ever find yourself playing a guessing game with your spending? Spoiler alert: it’s a game you won’t win. Many women simply underestimate what they actually spend or they don’t set aside personal spending money for themselves. Worse, the kids end up draining your money because of that last minute birthday party or the hole in their shoes. So adjust that budget, girlfriend. Be realistic!
3. The ‘But It Was On Sale!’ Impulse Buy
- Raise your hand if you’ve ever felt personally victimized by Facebook Ads or Amazon suggestions? They know how to get you! That’s okay, you can try our “Add to Cart” method. Next time that impulse buy whispers sweet nothings in your ear, add it to cart and then take a 24-hour chill pill. Do you really need it? If yes, it’ll still be there tomorrow. If not, congrats, you just saved some moolah! 🛍️
4. The ‘Talk Money? Eek!’ Taboo
- Money “talks” in a relationship can feel like walking into a spider web (yikes!). Here’s a fun twist: turn it into a date night! Budgeting over pizza and a glass of wine? Yes, please! Make it a gabfest about dreams, goals, and yes, those pesky bills. Love and money can be a match made in heaven. 💑 Not partnering up & learning to communicate about money is a big financial mistake women make.
5. The ‘Credit Card is My Soulmate’ Myth
- Oh, credit cards. So shiny, so swipeable, and so… sneaky. They promise fun now but always bring pain later. Remember, debt is not a financial plan. Debt clutters up your life and your budget and your bank accounts. Also, debt robs your future self. If you have to use credit cards, that means you can’t afford it. So, stick to using cash and savings buckets!
170 | 7 Common Financial Mistakes Women Make & How To Avoid Them – Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans
6. The ‘I’m Bad at This’ Blues
- Feeling like you’re not the sharpest tool in the shed when it comes to money? Stop right there! In fact, stop speaking anything negative about you & money over yourself altogether. We all start somewhere, and hey, making mistakes is part of the learning curve. Budgeting and personal finance are not a natural talent, they are a learned skill. So give yourself some grace and allow yourself to be a beginner!
7. The ‘Help? Who, Me?’ Hesitation
- The last of the financial mistakes women make is not asking for help. Lord help us, this is the mistake we ALL make in ALL areas of life, right? But the sooner we just cut ourselves some slack and allow ourselves to ask for help, the sooner we can sign in relief and start making progress! If you don’t get help, things might get worse. In fact, ask yourself: If you keep doing what you’re doing, where will you be in ten years? Also, imagine having someone to shoulder the stress and anxiety you’ve been carrying around. That’s where we can help!
So there you have it – seven sneaky traps and how to give them the slip. Remember, managing money is a journey, not a sprint. Grab your financial cape, and let’s fly high above these traps. You got this, girl!