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6 Money Management Tips For Women

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money tips for women

From home management to businesses, the modern woman is breaking grounds and changing all traditional concepts about the “weaker” sex. The subject of a woman making and managing her own money is no longer taboo.

In this article, we look at some of the best money management tips for women, no matter what your finances are currently saying.

What is money management?

Money management refers to the process of saving, investing, budgeting, spending, or overseeing the use of funds by an individual or group.

As a woman, here are some ways you can manage your money:

1. Create a budget

To do this, you need to make an estimate of the amount you spend every month based on your income, lifestyle, and needs. You review what is necessary and what isn’t. Then make a plan on how and what to spend. This keeps you in control of your finances, which is something you need to sustain that baby girl or rich aunt lifestyle.

Learn more about how to create a budget.

2. Don’t blow your backup

As a rule of thumb, you should always save some of your monthly income. Being a woman has its demands not to talk of being an independent woman. You need to always have the money you can spend later. By doing so, you are keeping yourself prepared for any emergency expense. Get rid of any chance of exceeding your budget or overspending. Don’t blow your backup (or vex money).

3. Make good use of saving platforms

There are several online saving platforms that you can make use of to save and invest your money. With Cowrywise, you can create multiple saving plans and automate them. We put your money to work to help you achieve the financial life you want.

4. Invest

See it like this: Whatever saving does for you, investing almost always does better. Have some of your income go into investments. And it is advisable to start early. Investing early tends to give a better ROI in the long run than if you waited till five or ten years later. Don’t let all your money sit in savings. You won’t be managing it well that way.

5. Avoid debt at all costs

Be careful with anything that involves borrowing or taking loans. Most of the time, the high interest on repayments can eat a lot into your savings. In all you do, avoid debt. If you must take on a debt, ensure you have done your permutations and seen that the reason would bring you higher returns. If it is to fund a lifestyle just because. then you are playing with being broke.

Learn more about what to ask before taking a loan.

6. Avoid unnecessary spending

You already know why this is important for women. Have your money priorities right so you can overlook the frequent hangout with the girls, shopping sprees, and incessant clubbing.

All these frivolities would eat up your savings and drag you into a financial abyss if you let them. Be intentional with how money leaves your account.

Bonus tip: As a woman, invest in financial education.

At what age should a woman start managing her finances?

You should start managing your finances from when you start making money. There is no specific age. It is only advisable to start very early so you can build your wealth longer.


Managing finances is a key aspect of a woman’s life because you are saving for the rainy days. A woman can be financially stable if she develops saving and investing habits at an early stage, and is judicious with her spending while consistently investing in her financial education.


Financial Independence for Women

Wealth Creation for Women

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