There has been a ton of research around women and finances. One study, conducted by the National Center for Women and Retirement Research, showed a direct correlation between a woman’s personality characteristics and her financial habits. The study also revealed that some unique qualities tend to lead to smarter money choices: assertiveness, openness to change, and an optimistic outlook.

Money, in general, is an emotionally charged subject. Some experts say the beliefs that women have about money and their emotional attachments strongly influence how they spend and handle money. If you’re not where you want to be financially, do a quick assessment of what drives you emotionally when it comes to money. Try to figure out the roadblocks that keep you from becoming financially independent.

With that, here are 10 tips (not in order of importance) that can aid you on your journey to becoming a financial rock star:

  1. Be involved in the day-to-day of your family’s finances. Talk about money with your spouse or significant other.
  2. Don’t rely on someone else (spouse or significant other) for your future financial security.
  3. Set financial goals and track your progress along the way; They can break down as such: (a) Quick Win – a goal you can accomplish today, tomorrow, or within the next 1 or 2 weeks (b) Big Win – goals you can achieve within 1-month, 3-months, 6-months or 1 year.
  4. Don’t let the fear of (1) losing money, (2) of failure, or (3) of the unknown stop you from investing. The stock market (in the long run) is your friend.
  5. Consider taking on some DIY (do-it-yourself) projects around your home. Try fixing minor issues yourself. YouTube has a TON of DIY videos that can assist you and if you’re still not comfortable, ask a friend or family member to help out.
  6. Build a substantial emergency fund; 3-months is good, but 6-months is even better.
  7. Focus some attention on your retirement savings; a rule of thumb – put away 10% of your earnings each year.
  8. Pay yourself first! Since you pay your bills every month, you should be one of those “bills” that get paid.
  9. Having a day job is great but think of other creative ways to earn additional income.
  10. Get your debt in check. Don’t spend money you don’t have (that one was for the credit card abusers). And, if you have student loans, know that you may have them for a while unless you’re working in a position that receives bonuses or commissions OR you receive a windfall of money.
  11. BONUS tip: Marry well! (Believe it or not, this is a strategy for some women)

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