​The 5 Best Money Success Tips for Women in Business

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“If you cannot control your emotions, you cannot control your money.”  Warren Buffet

Over the last year, I’ve been asking financially successful women what they think women need and want to know about their money and here’s what they shared.

  1. If your company has a 401K make sure you set up an automatic monthly contribution. Remember employers match your contribution. That’s FREE money and you’re never too young to start. Better to start small than not at all. Really – $25.00 a month is better than $0 dollars savings a month!!
  2. Women need to value themselves more and that will show up with their money. Sheryl Sandberg, COO of Facebook, says women don’t ask for what they’re worth when interviewing or getting annual reviews. I see that self-employed women tend to give too much money (discounts) & time away.
  3. Pace yourself. Do you need everything NOW? When looking for your first home and furniture, or redecorating - think about not just what you want, but how it’ll feel every month making the payments.
  4. Have Life Insurance and Disability job insurance in place. I know, not as exciting as facebook or hanging with friends. We never like to think about the what-if’s. But they happen. We often insure husbands, but not ourselves. Yet, last week a friend shared a young woman with two children died. Grief is hard enough without financial struggle. (Check out Umbrella insurance – it provides an added layer of liability protection)
  5. Have a budget. I know, I don’t like the budget word either, so think of it as a plan. Many women don’t want to feel limited so live for today and spend, spend, spend. ATM’s and online shopping allow money to slip right through your fingers. LearnVest.com recommends a simple formula: 50% of take home pay for fixed expenses like mortgage, rent, utilities, food, insurance. 20% of take home for a savings cushion (6 months expenses) and retirement, 30% for Lifestyle Choices – dining out, gym, fun.

Money Challenge:  You may have heard these money tips before, but have you taken action? Pick one of the Money tips and Start It Now!!   Post on FB or SHARE this article to support your women colleagues/friends to do better with their money.

BONUS: Every small change with your money makes a difference today and for your future. Here's my gift to you -  Free PDF 50 Ways to Boost Your Money! 

Get a FREE Peek at Lynn’s eCourse: Prosperity, Power & Peace: The Women’s Guide to Financial Freedom Special Bonus Rate:  CTPPP2015

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Certified Money & Business Coach, Professional Speaker & author, Lynn Telford-Sahl, writes thePowerUP Your Money blog for women in sales and small business. If you’re ready to PowerUP your Money, your Business & your JOY get your FREE Financial Strategy Session with Lynn at www.powerupyourmoney.com or take The Money Quiz to find out your Money Strengths & Challenges.