We love it when women share their knowledge to help other women and a thread on Reddit’s Ask Women section is doing just that. It asks, “Women, what is the best financial move you’ve ever made?” Hundreds of responses have come in offering good advice and these are some of the best.
- "Getting laser focused on long-term goals versus the 'But I want it NOW' mentality."
- "Putting away 10% of my income the second I get it. I don’t even think of that money as mine, built quite the buffer over the years."
- "Rule #1: Always stay on budget. Never feeling like I need to keep up with the Joneses. Being happy with what I have and not always having the latest and greatest. Less time working and less money needed to maintain a certain lifestyle makes me happiest."
- "Learning how to use credit cards effectively. I used to carry balances and all that jazz. Now, I pay them off every month and rack up points to use for other things."
- "Getting divorced! Not having to support my husband freed up a lot of money."
- "Every purchase, every vacation, every utility, every car...all paid for in cash, and only after looking for the biggest bang for the buck."
- "Planning meals in advance so I could avoid impulse buying or eating out. Also, buying second-hand clothes for my kids and me unless it's for special occasions."
- "Keeping cars until the wheels fall off. Most people don’t realize how much money they put into a car that they trade in every few years."
- "Choosing a field that makes $$$. Go for it, ladies. Go for high paying fields. Get your money. Invest it properly. Don't rely on anyone else. Even if you get married and have kids. Always have your own money. It will save you if and when things go sideways."
- "Quitting drinking and smoking. Seriously."
- "Buying a property the moment I could afford the deposit. It seemed like a bad time to buy but I did it anyway. Best thing I ever did financially for sure."
- "Not having kids and marrying someone who has the same ideas about money as I do."
Source: Reddit