Who does not want to be rich? Who does not want to be in abundance? Everyone on this planet except sages, monks, and nuns wish to be rich and enjoy life in abundance of wealth.
I remember the times when I used to always be broke.
But it’s been some years now I have been enjoying abundance and I have not gone broke at all in the last couple of years since the time changed my money beliefs, worked on myself and worked on improving my financial situation.
Trust me, it’s an all-around process.
My simple good habits have helped me overcome financial crisis. So today in this post I want to share certain habits of women who are never broke.
Habits of Women Who Are Never Broke
1. They automate their savings
The woman who is never broke has learned the art of saving money.
When money comes, they don’t think that the money is for spending, but they keep aside a certain percentage of money separately for savings.
To ensure that they are saving money, they automate their savings so it gets deducted automatically from the bank.
They also save money from overspending by not going by impulse to buy things which are not needed right now.
2. They follow a budget
Women who are never broke always follow a budget.
They have a set budget to follow every month. Most of them follow the 50/30/20 budget rule which is 50% of the money goes towards needs, 30% for wants and 20% for savings.
I have kept a separate budget for the many things I want to keep money aside for and they are money for Simply saving (emergency), travelling, investment, donation, money for my personal use, tax savings and even a separate amount of money is kept separately for our pets.
This way we use money from only the specific category allotted and it keeps my money manageable.
3. They have an emergency fund
All women who are never broke have an emergency fund which they keep adding every month from their income.
They started their emergency fund at one point in time by saving even just a small percentage of their income and slowly started building from there.
You can start by saving 10% from your monthly income for your emergency fund.
You can also challenge yourself to save $10 or $20 each day and it will be $300 and $600 at the end of the month which amounts to $3600 and $7200 at the end of the year!!
Over time it grows and so whenever the time is too hard, they never go broke because they have their emergency fund!
So start building your emergency fund today even if it by saving just $100-$500 dollars every month!
4. They set financial goals
The women who always have money and who are never broke are so because they set financial goals.
They don’t just spend their money and live paycheck to paycheck.
They set financial goals like saving $3000 by this year, building another stream of income by ___ year, and setting certain income goals along with action plans.
They are keen on growing their wealth, and not just becoming rich.
5. They have a positive money mindset
The women who always have money are those who have a positive money mindset.
They never talk about what things are lacking, and especially not about financial lack.
They are always talking about abundance and working on their personal growth.
These women have changed their perceptions about money, that money is bad, that those who have money are greedy, or that it’s very hard to earn money.
These women believe in positive affirmations and always keep a positive money mindset believing that money comes easily to them.
And thus it does happens that way!
This is the first thing you need to have if you want to change your money situation.
6. They note down their needs and wants
Women who are never broke don’t get mixed with wants and needs.
They know that their wants will never be exhausted, so they keep a check on it.
They have a journal, and they note down their wants and needs separately.
This helps them get clear on what they need Vs. what they just want for pleasure or to feel good.
When they spend money, they are wise in spending, in the sense that they first spend their money on needs, and then if their budget permits, on their wants, every month.
7. They track their expenses
They track their expenses diligently.
They have over time built this habit of tracking their expenses on the go whenever they get spent, or they note down their expenses at the end of the day which has separate categories for personal expenses, transport, grocery etc.
8. They invest money
Women who are never broke always keep a certain percentage of money to invest which helps in multiplying their income.
A good percentage is to keep 10% of income for investment purposes. This money is strictly spent only to build more money, and not for shopping, home expenses or anything.
Ever since I have done this, I have personally experienced my money grow.
At first the amount of money I kept for 10% was a small percentage, but over time this money I kept for my 10% investment started to grow.
Now this 10% of my money even exceeds my total income from the time I started saving.
It really is true. Money grows money.
9. They read personal finance books
The women whoare never broke learned to improve their financial life because they became financially educated.
They read good books on creating personal wealth, diversifying their income and reaching financial goals.
Some of the best personal finance books are:
- The Richest Man in Babylon
- Think and Grow rich
- Rich Dad, Poor Dad
- The psychology of money
- The millionnaire Fastlane
Final thoughts on how to never be broke
These are all the habits that I built on my journey towards financial abundance which helped me to not get broke at the end of the month.
One thing I also used to do is that my friends and family never found out that I was broke. I never behave like a helpless, pitied woman with no money in her purse. I never complained about my financial crisis.
If you are in this situation like I was before, have faith in yourself. Be the best version of yourself no matter what the situation is and keep believing that you will have all the ease and comfort in your life.
Never complain that money is bad or evil. Money adds to our happiness and it is our right to live in abundance.
Build these simple habits and you will be on the road to greater prosperity. Above all, never give up on your goals and always dream high.
