281 | Practical Tips for Women to Build Wealth and Confidence with Money

Financial Coaching for Women: How To Budget, Manage Money, Pay Off Debt, Save Money, Paycheck Plans

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Hey budget besties! This episode is all about breaking down the barriers and fears women have around the concept of wealth. We’ll dive into why the word "wealth" can be intimidating, share personal stories, and offer practical steps to help you start building the financial future you deserve.

This episode is from a conversation we had with our friend Holly Logan from the "Lead with Empathy" podcast. Go check her out on Spotify!

Key Takeaways:

1. Redefining Wealth:

2. Wealth isn't just for the elite—it's for all of us! It’s about living the life you want and achieving your personal goals.

3. Women often shy away from the term "wealth," but it’s time to change that mindset and own our financial power.

4. 90-Day Review:

5. Start by doing a 90-day review of your bank and credit card statements.

6. Categorize your spending to see where your money is going. This is the first step to creating a realistic budget.

7. Creating a Budget that Works:

8. Use real numbers from your 90-day review to create a budget.

9. Prioritize your values and allocate your money where it matters most to you.

10. Bougie on a Budget:

11. Yes, you can enjoy the finer things in life without breaking the bank!

12. Identify areas where you can cut back and redirect that money to what truly makes you happy.

13. Automating Your Finances:

14. Set up multiple accounts for different purposes (bills, spending, savings).

15. Automate transfers to ensure your money goes where it needs to without constant manual effort.

Practical Tips:

1. 90-Day Review:

2. Grab your bank statements from the past three months.

3. Use different colored highlighters to categorize your expenses (bills, groceries, gas, fun money, etc.).

4. Identify areas where you can cut back and reallocate funds.

5. Budgeting:

6. List all your income and essential expenses first.

7. Allocate remaining funds to your priorities and goals.

8. Use a budgeting tool or app to keep track of your spending.

9. Automating Savings:

10. Set up separate savings accounts for different goals (e.g., vacation, emergency fund, holiday shopping).

11. Automate transfers to these accounts on payday.

12. Managing Debt:

13. Decide whether to focus on paying off debt aggressively or balancing debt repayment with savings.

14. Remember, it’s about what works best for you and your financial goals.

4 Ways To Connect With Us:

1️⃣ FREE CALL: Book your FREE 20-Minute Financial Coaching Call now! Get personalized advice and start your financial journey ➡︎ https://www.budgetbesties.com/freecall

2️⃣ FACEBOOK: Become part of our Supportive Facebook Group. Connect, share, and learn with others mastering their budget skills ➡︎ https://www.budgetbesties.com/facebook

3️⃣ BUDGET: Grab our Signature Budget Template! It's your key to organizing and optimizing your finances effectively ➡︎ https://budgetbesties.com/budget

4️⃣ COACHING: Ready to dive deep into your finances? Sign up for 1-on-1 or Group Financial Coaching. It’s the accountability and guidance you need to make real progress ➡︎ https://budgetbesties.com/coaching

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