Things Women Should Know About Money & Personal Finances

Tired of living paycheck to paycheck and mismanaging your personal finances? 

Struggling when it comes to spending, saving money, or paying off your debt? You are not alone, most people struggle with money and have little to no education on how to manage their finances. I have a passion for educating women on how to manage money so they can confidently make money decisions and live a comfortable life!

Here are the things every woman should know about money & personal finances that personally helped me understand and manage my own money! All of these tips are from my own experiences because like I said, this is a common problem for most people and I am no stranger to them. I have done so much research in my pursuit to live a life that doesn’t involve fear or stress around money and it is my hope to empower you to do the same! So let’s get into it!

Things Women Should Know About Money & Personal Finances

1. Money Now. 

What are you doing with your money now? 

If you do not want to live paycheck to paycheck, then start figuring out how much money you are spending on your daily activities! You will never know how much money you could be regularly saving until you start tracking your expenses. If we were to get a definite number of how much we were spending, we can divide that by your monthly income and know what percentage you are spending on that particular activity.

The best tool that I like to use is, where you can put in all of your accounts- credit card accounts, bank accounts- and it will give you an aesthetic pleasing chart that will show the actual numbers of how much you are spending. 

Other tools that you can use in categorizing your expenses:

2. Fear of Money. 

Figure out what your fear of money is and where you stand on the spectrum.

If you are coming from a Lack standpoint these are the common fears..

Fear that we don’t have enough

Fear that we are mismanaging our money

Fear that we are losing money

If you are coming from an Abundance standpoint these are the common fears...

Fear of becoming wealthy

Fear of many will not like you because you have money

Fear of more money, more problems

If you are in the lack’s standpoint, then chances are you are not doing #1. Knowing what you are doing with your money now. By utilizing the tip from number 1,  you will be able to have a feeling of control over your spending.

If you are in the abundance’s standpoint, then you have to understand where your mindset is coming from. Spend some time thinking and writing down where these fears started and how you can work through them.

Remember, you don’t have to be part of a 6-figure club to have more money, you just have to learn how to manage it.

Trust me, if you do not know what you are doing with $100, you will not know what you are doing with a thousand dollars.

3. Relationship to Money 

Going back to number 1, knowing what you are doing with your money can help you mend the relationship you have with your money. And number 2, taking away fear. You are in either abundance or lack. You need to understand your relationship with your money because this is how you are using it, spending it, and neglecting it. 

Understand first what you are doing with your money, understand your fears, and then you can now easily understand your relationship with your money.

4. Managing Money. 

Managing your money is very important. 

“You might be richer than you think” - David Bach

You’ll be surprised by what you can do if you know and learn how to manage your money. How can you do it? Go back to number 1 through 3. Use these tips to help you manage your money successfully!

5. Spending Money.

The way we spend our money has to be intentional for you to slow yourself down, not just buy everything that you see. This is something that we are all guilty of, hello impulse buying! Am I right?

If we don’t spend intentionally, chances are we will be stuck in a continuous cycle of Spending > Not saving > Paying off debt > Repeat

6. Saving Money 

I always suggest that you save your money that fits your needs and does what feels right for you.

Ways to save money that I recommend:

  • $10 a day challenge

Imagine you save $10 every day, at the end of the month you have $300.

At the end of the year, you have $3650 in savings. 

Why is saving money important? In case something happens to you, you lose a job, you want to change your career, or if anything unfortunate happens. No one's going to lend you money. No one's going to just hand over tons of cash. That’s why having savings is so important. Having a good savings account creates internal peace that allows you to move in different directions and move into the bigger picture of your financial path. Make sure you are creating a savings account for yourself that is practical. Small steps that won’t feel so big for you but will make a big impact later on.

7. Paying Off Debt  

This is a very important and very crucial step in the process because you want to be able to give yourself freedom long-term. Don’t let your debt get a hold of you. But be mindful that you have debt and understand that as long as you have your money saved and have enough of it to cover your essential needs now you can make a change and cover your debt.

Remember that this can be your first step to your financial light if you understand and start applying these practices throughout your financial journey. Always remember that the first key to financial success is how you manage your money now. It doesn’t matter how small or big the amount is, if you manage it in a wrong way you’re most probably still going to lose some money. If you want to start your path to financial freedom and confidence check out this financial roadmap!


- Damari Gold Finance & Tax Expert   


Damari has a unique perspective on Money and Personal Finances. She holds a Master’s Degree in Accounting and Finance, has been a practicing tax accountant for over ten years, and owns a firm, The Gold Standard Accounting & Tax Inc in Huntington Beach, CA. Damari is passionate about helping small business owners, more specifically women-owned businesses, in understanding their money. As a first-generation American and an entrepreneur herself, she understands the difficulties that are faced. Money goes beyond business; that is why she is determined to help others Be Confident Money Women.


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