The gap of financial confidence between men and women is shorter than ever, and confidence is key to achieving financial freedom. Women are out here making serious strides in their financial journeys. So if you’re looking for a boost, we have 3 money moves you can make right now to help your confidence.
- Start by getting your mind right to build your bag. Call in the experts, but also talk to your friends. Gatekeeping is out, and things like salary transparency, budgeting, and saving hacks are in. Learn from their best (and worst) money moves and set financial goals of your own. Financial confidence can come from having the money you need to feel secure in your life, but it also comes with knowing how to make financial decisions that align with what you want for yourself now and later.
Here are 3 things you could consider:
- What kind of work / life balance do you want? Some people value flexibility – work from home, shorter work weeks, and more – over the ability to make more money. Consider this when looking at a day job as your MAIN source of income or when seeking other sources of income.
- Think about income over salary. Besides salary, there are other benefits that come with your 9-5 that may give you a chance to save, earn or help grow your income. And look outside of your day job for other ways to earn money–from side hustles to investments and more.
- Take the money you earn and start growing it. It’s easy to get overwhelmed with the options out there, but a high yield savings account can be a great place to start with a higher interest rate that allows your money to grow while it sits in your account.
- Up your credit score. Think of it as your financial footprint. Know your score and how to improve it, so you can manage your money today and plan for tomorrow.
Here are 3 things you can do to help make a legit impact:
- Pay your bills on time. Better yet–evaluate your expenses and reduce them.
- You might find there are places to trim without settling for less.
- Look at your credit utilization. Use less than 30% of your limit – the lower, the better – on any credit card. And pay balances strategically before the billing cycle ends.
- Dispute credit errors. Yeah, they’re a thing. Check your report and call out discrepancies to up your score. Major credit bureaus offer free reports so take advantage!
- And consider investing. Make your money work for you 24/7 so you don’t have to. You don’t have to have a lot of it to get started. You can start small! With MoneyLion RoundUps, you can invest your spare change with every swipe of your card, like that .75 leftover from your cup of coffee OR .99 from the plant you bought to fill a void. Every little bit adds up, so start where you can and explore other ways to invest your money.
They say knowledge is power, so we say start learnin’. Financial confidence puts the power back in your hands to take charge of your financial journey and get the freedom you’ve earned along with your money.
Find more money moves, saving strategies and hacks right now in the MoneyLion app.