5 important traits of financially savvy women
- Paul Cunningham
- Apr 5, 2019
- 3 min read

Financial acumen helps you make important decisions throughout your lifetime. Being financially savvy means different things to different people and for women, it's enormously empowering.
Regrettably, most of us didn’t grow up around a financially savvy female role model, we usually had to figure things out the hard way and this has meant many of us have missed opportunities to accumulate wealth.
But don’t despair though ladies – it’s never too late to become financially savvy. You can choose to take matters into your own hands by taking a new approach to managing your money and developing good financial habits.
So, how can you become more financially savvy and get by on your own?
1. You stick to a realistic budget
Financially-savvy women know how much it costs to run their household, how much they’re bringing in each month and how much of that income is going out to pay bills. Importantly, part of that budget is allocated to savings and investments.
If you're not combining income and running joint accounts, you should also have that same knowledge about what your spouse or significant other is doing with their income. Don't keep your head in the sand about your mate’s finances and let them know what your doing with yours.
2. You're not addicted to credit cards
Financially-savvy women know how to live within their means, even when everyone around them seems to be living the high life. As a financially smart woman, you use credit cards as a convenience and keep them in control. You know if you can't clear the balance owing at the end of each month, then you're better off without them. That’s because you know the importance of paying debts on time helps you maintain a great credit rating.
3. You have an emergency fund
Life is full of unexpected surprises, some of them you welcome, some of them you need extra cash to deal with. That's why financially savvy women know to set aside income towards an emergency savings account. A rule of thumb is to have at least three months’ living expenses stashed away in a savings account is a great start. You cant build up money like this overnight, but set aside some money every month to deal with the unexpected.

4. You save before you spend
Financially savvy women don’t save after paying for expenses; you save before paying for expenses; you call this - paying yourself first.
paying yourself first isn't the same as spending money on yourself. Paying yourself first means saving before you do anything else. As a financially savvy female, you know that paying yourself before anyone else; not the hairdresser, not nail artist, not the gym instructor, NOT ANY ONE, gets a cent of your hard earned money, is the best way, the only way, to financial freedom.
5. You think long term
Financially astute women don’t just sit and ponder each month without taking action, you take the proper steps to make sure you do whatever is necessary to protect yourself, your family and your assets.
You've created a will; you make sure your insurance is appropriate and in order for your age and life stage; you're on track to save for the things that are import and to you like your kids’ education; holidays and lifestyle and you invest for retirement.
Habits can make you, but they can also break you – you do not just become what you think about consistently, you become what you do consistently. In other words, your financial behaviour can either make or break you. Isn't it time you employed the habits of financially savvy women and start increasing your wealth!
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