• Food
  • Family
  • Beauty & Health
  • Style
  • Great Women
  • Events/Win
  • Domestic Diva Awards 2022
  • Food
    • Eating Out
    • Cooking Tips
    • Festive Food
    • Asian Recipes
    • Food
    • Celebrity Recipes
    • Dessert Recipes
    • Healthy Recipes
    • Quick & Easy Recipes
    • Western Recipes
  • Family
    • Family
    • Save Money
    • Parenting
    • Sex & Marriage
    • Travel
  • Beauty & Health
    • Beauty & Health
    • Skincare
    • Makeup
    • Hair
    • Awards
    • Diet & Nutrition
    • Fitness
    • Wellness
  • Style
  • Great Women
    • Career
    • Great Women of Our Time
    • Real Life
  • Entertainment
  • EVENTS/WIN
  • #SchoolForLife
  • Hair Awards
  • Great Escape
  • Explore Singapore
  • Also available at:
Privacy Menu
SPH Media

Copyright © 2023 SPH Media Limited. Co. Regn. No. 202120748H. All rights reserved.

  • Food
  • Family
  • Beauty & Health
  • Style
  • Great Women
  • Events/Win

Family

8 Financial Decisions Every Woman Should Be Making

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Family

8 Financial Decisions Every Woman Should Be Making

June 26, 2018

Personal finances can be a touchy topic and something you usually avoid discussing with colleagues or friends, but realistically managing your bank account(s) shouldn’t be something that brings you out in a cold sweat. If it does, some simple money maintenance could be all you need to get your financial confidence back again. Here are our top tips for eliminating your money worries so you feel in control of your finances.

READ MORE:
The 10 Types Of People Everyone Encounters In The Work Place
The Right Way To Get Your Boss To Like You Without Sucking Up
How To Get Your Bosses To Listen To You

https://www.womensweekly.com.sg/gallery/family/8-financial-decisions-every-woman-should-be-making/
8 Financial Decisions Every Woman Should Be Making
Start saving (if you’re not already)
image

In theory, everyone should be contributing to a savings account. You may be doing so already – in which case, great, but ask yourself can you afford to save even more? A quick calculation on how much you spend on coffee each week will probably soon shock you into saving more!

Even if you can only spare $50 a month, it’s a great start and you’ll get some return investment on your money by adding it to a reward or incentive account. Plus, like chocolate, saving is addictive. The more you see your money grow, the more you’ll probably want to contribute.

List your future aspirations
image

A big task, yes, but it will help your financial future tenfold. Would you like to have children? Travel the world? Own multiple homes? Reach a savings goal?

By writing down a list of five things you’d like to achieve in the next five years, you’ll automatically start thinking about how much money you’ll likely need to achieve your dreams. It will help you think about your financial goals and how much you are willing to budget.

Think about the company you work for
image

Retirement benefits don’t tend to be an important factor when accepting a job, but if you think about it, it’s one of the main things you should consider before agreeing on any new offers.

Retirement benefits are vital to your future wealth-building and will help give you security if you can’t quite save as much as you’d like. You should always make sure your company offers your super on top of your salary package, too. This way it’s not coming out of your wages.

Be mindful about sharing everything
image

Joint accounts are often part and parcel of being in a couple, but it’s important to still have some sort of financial independence. New Westpac research shows that two in five women have no access to private funds, leaving them financially vulnerable.

It’s also a sad fact that 91 per cent of women would experience some form of financial strain on their family if they were to separate. You don’t have to scrap the joint account altogether, but consider a personal savings account – a guilt-free shoe fund – or make additional top ups to your super.

Don’t be afraid to ask for help
image

Feeling overwhelmed by your own money situation? You’re not alone. And you shouldn’t feel embarrassed about it. In fact, there are online sites out there that are specifically aimed at helping women feel empowered when it comes to finances.

They’re packed with heaps of tips, ideas and female-specific scenarios that could help you understand your financial situation and how to manage it better.

Embrace credit cards
image

When used properly, credit can offer plenty of rewards worth taking advantage of. They’re essentially the fastest way to borrow money, making them a great back-up, particularly during busy times like Christmas or holiday season.

That is, of course, if you can trust yourself to pay off any debts on time, as, late payment fees are notoriously steep. If you’re responsible with your credit cards though, you can actually gain more than you spend thanks to incentive perks such as bonus air miles. Plus, they’re a great way to track and understand your lending pattern, a vital tool on the road to financial stability.

Learn how to invest
image

Even if you’re not in the position to invest right now, knowing the difference between fixed and variable interest investment and shares is never a bad thing. Head into your local bank and ask them for a quick crash course on investing basics.

Some banks also hold webinars around specific investments, such as property investment, which are a great resource if you’ve decided to go down that avenue, too.

Track your spending
image

Making a conscious decision to analyse every single thing you buy can be daunting, but the result will likely be fewer frivolous buys and more considered spending. Create a spending diary and record all of your daily purchases for two weeks. You’ll soon be able to identify areas where you could cut costs and save.

  • TAGS:
  • financial
  • financial decisions
  • money
  • saving
  • savings
  • Shopping
  • work
SHARE THIS ON

What’s Hot

Family

How To Address Family Members In Mandari...

Family

Chinese Zodiac Forecast For The Year Of ...

Family

10 CNY Traditions That Are Disappearing

Family

Witty Comebacks For Nosey Questions At CNY

Family

15 Chinese New Year Superstitions And Taboos

Family

Can You Keep The 'Family' In The Family ...

Family

Spring Cleaning 2023: Vacuum Cleaner Dea...

Family

Black Friday 2022: Everything Worth Buyi...

Family

Black Friday 2022: Best Vacuum Cleaner D...

Family

5 Ways To Reduce Your Income Tax In Sing...

Family

The Best Gifts Under $20 For Every Occasion

Family

The Best 11.11 Deals For Everybody In Th...

Editor’s Picks
  • Food 20 Kid-Friendly Restaurants For Parents Who Need A Break
  • Save Money 10 Things To Know About Giving And Receiving Ang Bao This CNY
  • Home Ideas 14 Kid-Friendly DIY Decorations To Make For CNY
  • Fashion 15 Best Places To Get Matching "Bunny" Outfits For The Family This CNY
  • Fashion Local Celebs & Personalities With The Cutest CNY Family Outfits
  • Entertainment All The Celebs Expecting Babies In 2023
Don't Miss Out Ever Again!
Tips & tricks to stay sane + win invites to our events!

By signing up, you indicate that you have read and agreed with our Privacy Statement
Footer Menu
  • About Us
  • Contact
  • Conditions of Access
  • PDPA
  • Privacy Policy
?>">
SPH Magazine

Copyright © 2023 SPH Media Limited. Co. Regn. No. 202120748H. All rights reserved.