If you’re in your 20s or 30s, chances are nobody taught you how to truly master your money. Maybe you grew up in a household where finances were never openly discussed, you learned about credit cards the hard way in college, or maybe you’re drowning in adult responsibilities like rent, student loans, and car payments. You wonder – How do other women have all these aspects of life figured out? Well, the truth is they don’t have it all figured out, but they do have something you can learn.
I used to have a “situationship” with money that was complicated and sometimes stressful. Growing up in a middle class family, money wasn’t something that was discussed. We had what we needed, and I was grateful, but I never learned about financial empowerment. I entered college in the 90s and as we purchased our books at the bookstore, we were often given credit card applications. Now, I was tempted as any teenager would be and started swiping, but then came the reality that I only had access to my own money from working a job at a local clothing store in the summer. That means no steady income. Sounds familiar?
Even though I was naturally cautious with spending, I still found myself caught in the uncomfortable space between wanting financial security and feeling overwhelmed by “adult” bills that started to pile up – rent, utilities, student loans, and car payments. You know, life keeps “lifeing.” As a teacher, it was necessary to navigate all of this while getting paid once a month.
Over time, I learned that your relationship with money doesn’t start with your paycheck – it starts with your mindset. Here are some things that I’ve learned about money:
- You have to discover your money story
Look at the patterns that have been running your financial life. Begin with those lessons you may have learned in childhood or through trial and error. Knowing why you feel the way you do about money is the first step to making a change.
- You need to know your numbers like you do your “bestie”
Be clear about your income and expenses. No guessing, no tossing bank statements to the side. If you know where your money goes, you can direct or redirect it to where you want it to go.
- You need to create your debt freedom strategy
Turn overwhelming debt into a manageable, step-by-step plan. Be it student loans, car payments, or credit card debt, learn proven strategies to tackle debt with sacrificing your quality of life.
- You have to build your support system
Find your accountability partner and create a community of women who are also on their financial empowerment journey. Remember, you don’t have to do this alone. It’s up to you to change the narrative and define what wealth means to you.
