5 Ways to Become a Financially Independent Woman

Becoming financially independent is certainly everyone's hope, including women. Everyone's financial ability cannot be generalized, but having their own income can be a starting point for women to become financially independent. 

Being financially independent is not only a matter of how much money you have, but also how to manage your finances well. Financial independence also has many advantages, including for women.

Ways to Become a Financially Independent Woman

5 tips that women can do to be financially independent are:

  • Have Your Own Income
  • Keep Learning and Sharpening Your Skills
  • Set Financial Goals
  • Have Savings
  • Understand the Importance of Investment

Why Its Important?

The advantages include making us become more confident individuals, have adequate reserve funds, can be an inspiration to many people, and so on. 

Therefore, being financially independent, of course, also gives you the strength not to depend on other people. To make this happen, here are tips that can be followed in order to become a financially independent woman.

1. Have Your Own Income 

Women who have their own income will certainly benefit themselves, whether they are single or married. One of them, can help the family economy.

You are also more flexible when buying needs for yourself or for your family. Apart from that, you can also have emergency savings when something unexpected happens. 

This income can not only be obtained from working in the office. Currently there are many ways to earn income without having to work outside the home, such as selling online or working part time. 

You can also open your own business, for example, then market the products you sell, such as food, knick-knacks, or others through e-commerce.

2. Keep Learning and Sharpening Your Skills 

It is important to know the potential and know the deeper value in yourself. This can be useful for earning. 

As a woman, sometimes there are conditions that make you have to step back from the professional world for a while. However, try to keep updating with the industry you like so that it feels easier when you decide to return to work. 

Keep learning, for example by attending webinars and various trainings to explore your potential. This also opens up opportunities to increase self-worth from a financial perspective.

3. Set Financial Goals

When you already have your own income, make financial goals. This is important and must be in your financial planning.

To have effective financial planning, you need to determine what goals you want to achieve. In other words, don't run or collect a lot of money without a clear goal, both for the short and long term.

Long term goals usually have a timeframe of more than 5 years. For example, funds to buy a house, tuition fees and preparations for the pilgrimage. In the short term, for example, you want to have 1 million in bank savings in five years.

4. Have Savings

Even if you have your own income, don't be extravagant and don't spend it impulsively. Have a good habits like saving. Don't forget to save when you already have income. 

You need to manage your income wisely, then set aside about 20 percent for savings. Some income allocation methods suggest that about 20 percent is set aside for savings.

5. Understand the Importance of Investment 

In addition to saving, you should also set aside income for investment. Investment can be a provision for a bright future because it makes finances more measurable and focused. 

There are many investments to choose from, just adjust according to your risk profile. Some of these investments include gold, stocks, mutual funds, deposits and insurance. 

Having your own income is important, but remember not to push yourself too hard. You still have to pay attention to physical and spiritual health. Take time to be quality time for yourself and your family.

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