Trying to figure out how to save money as a woman, whether single or in a relationship, is always going to be a smart move.
And thankfully, there are other woman who have incredibly healthy money habits you can learn from.
So even if your mom didn’t teach you, you can always learn from others and their financial success
And whether you want to have a good financial cushion, get ahead in your investments, or just want to cut out bad spending habits, these money saving tips are gonna help you out.
And lastly, while becoming this kind of women does takes commitment, just know that it’s going to be so worth it in the end!
1. They Avoid Paying Interest
These women are conscious of how they spend every single dime, and this makes them use their credit cards less.
And when they’re not paying interest, they begin to use more of their money for investments, ultimately earning more interest (in profits) for themselves.
These women want to have financial independence, and this is one of the steps they take to makes sure they reach that goal.
2. They Love Homemade Meals
If you want to be one of the women saving money, then you need to make sure you adopt this habit.
Eating at restaurant all the time can quickly make you short on cash, so these women avoid doing this.
They cook their meals at home and this helps a lot because they can give their body the nutrients it needs while also saving money for more important things.
Also, if there is a dish or type of cuisine they really like, instead of always going out to satisfy those cravings, they learn to master those recipes at home.
3. They Make Sure to Have a Budget
Budgeting is just like laying down the first brick of your house.
Women who always have money have all their financial paperwork organized, know what bills are due, and what their income can accommodate.
Making a budget and then strictly following it is the most vital first step in saving cash.
4. They Put Money in an Emergency Fund
One of the first things they budget for is their emergency fund.
They figure out any way they can to get to $1000 or more for an emergency fund so that if something does pop up, the rest of their savings doesn’t go out the window. Or all that money they paid off from their credit card debt isn’t for nothing.
5. They Have a “Fun” Section in Their Budget
Now you might be thinking that these savvy savers never go out or do anything fun, but that is far from the truth.
These women budget for the fun things and treat themselves, and this helps them to not feel deprived (and then overspend).
Also, when you’re making it a habit to save, you end up having more money to spend on getting your hair done, finally buying that pair of shoes you’ve been wanting, or taking a day trip to a nearby city.
6. They Do the 2-Week Wait Method
Impulse purchases are kind of the norm and it can be hard to avoid them.
But one great attribute of these women is that they give it 2 weeks and see if they still want the item.
You have NO idea how many times this has saved me from buying things I didn’t really want or need.
7. They Love Finding Free Things
They’d rather spend their time at the beach, botanical gardens, or a festival instead of going on expensive trips all the time.
They love finding fun free things to do and this helps them save more money in the long run.
8. They Make Plans to Save
They never joke around with their savings, every penny counts.
This makes them set up reminders to save throughout the month. It really is a great way to remember to put cash into savings.
You can’t get ahead without making plans!
Side Note: Or they just set up an automatic withdrawal every time they get paid. Then the money goes right into their savings account without them even having to think about it.
9. They Try to Have a No-Spend Day Every Week
Sometimes it can be monthly, but this tends to help them think more about their expenses and what is and isn’t necessary for their lives.
And if you want to try a no-spend day (or week) yourself, this can be a great way to curve bad spending habits and help you see where you could be more frugal.
10. One Source of Income is Never Enough
Make sure that you are secure with different income streams.
This could be anything from rental properties to investments that you build up over time. Or even a side hustle that turns into an incredible revenue stream.
And if anything financially stressful happens, you’re covered.
Also, you just wanna make sure you’re being financially productive and strategic. So make sure you’re placing it in things like high-yield savings accounts or retirement portfolios
11. They Try to Fix First Before Throwing Away
Whether it’s their broken heels or a laptop screen, there’s always a way to get these expensive things fixed before being thrown out. So before tossing, see what can be done to restore your belongings.
12. They Don’t Have Shopping Apps
If your iPhone is full of online shopping apps you’re in trouble.
A $20 dress might not seem like a lot, but it can eventually create a snowball effect and before you’ve noticed, you’ve spent a huge chunk of your income on things you didn’t really even want.
13. Buy, Not Lease
Of course, not everyone has the spare money to buy a house or a car with a full down payment, but think about it this way: it’s actually better to buy a smaller house in a cheaper area or a used car than spending a fortune long-term on renting and leasing.
14. They Have a Plan for Debt
Paying off your debt should be one of your top priorities when it comes to managing finances. Increased interests will suck all the money out of your account; it’s a trap!
So separate an amount from your salary for this purpose every single month. It takes discipline but it’s very satisfying in the long run.
15. They Don’t Lose Sight of the Bigger Picture
Saving money can be hard when you don’t have a lot coming in. But the woman who knows the importance of positivity and focusing on their goals makes it a lot easier.
Most of their motivation comes from believing in their end goal and not losing sight of it when things get discouraging.
16. They Are Not Shy to Ask for What They Deserve
The woman who saves the most money is also the woman who makes sure that she’s bringing in as much money as she can (so she can save even more).
So if she’s working hard at her job and doing incredible, then she’s gonna make sure she’s asking her boss for a raise. And she’s not shy about it!
17. They Get Financial Education
Education is essential to excel in anything, and it’s no different when learning about money.
These smart women make sure to get their basic education either by enrolling in a course or doing extensive research and reading books. But one thing is for sure, they’re aware of everything that can be done with their money when it comes to saving and investing.
18. She Doesn’t Say, “I Deserve It!”
It’s so easy to tell yourself this big lie, “I deserve it.” Especially after a hard day!
But in reality, financially smart women know that they deserve a financially free future that’s safe from money stress and worries.
19. Bonuses Are Not for Spending
Even before your bonus comes in, you might have plans like buying a new watch or bag.
But the thing is that these women who don’t go broke save their bonuses. Yes, they may have a small splurge, but they put the majority of it into their savings.
Because once it’s gone, it’s gone.
20. Tax Prep Like a Pro
Rather than getting frustrated with how much government takes, look for tax deductibles that you can take advantage of.
There are so many things you might not be aware of, so check it out. It honestly can’t hurt!
21. They’re Saving for Their Happiness
Some might think that saving will keep you from having fun, which can end up making you not want to create a budget yourself.
But the truth is that people who have more money in the bank aren’t stressing about living paycheck-to-paycheck. They’re living a lot happier of a life and have money for the things that actually matter.
They’ve created an abundance mindset that helps them stay out of debt and keeps them building up their savings and living a much better life.
Grace Moser is the author and founder of Chasing Foxes, where she writes articles to help women create a life they love in big and small ways. She's been a full-time traveler since 2016 and loves sharing her experiences and exploring the world with her husband, Silas. Her lifestyle and travel advice can also be seen on sites such as Business Insider, Glamour, Newsweek, Huffpost, & Apartment Therapy.
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Thank you so much for this
Also, have money set aside each month for future to a 401 k or 403 b Tax deferred that can grow over time. In 20-30 years you’ll have a nest egg for retirement.
I never pay interest on my credit cards. When I use them, it’s only if I have the ability to pay the balance each month. I make home cooked meals and bring my lunch to work everyday. You save money and eat right when away from home during the day.
The wait to purchase is a great tip, I can really use this. Thank you.
I love the tips on not paying interest and having no spend day. This way I spent money only on necessities and save for a day at the spa instead.
I love the no-spend day and home cooked meals, they save you up to R2000 per month! Take-aways are expensive.
It really is!
Awesome tips! Thank you.
I love “2 weeks thinking before purchasing an items”. I save a lot by this rules. It’s true!