I’ve talked about my past in some of the posts that I’ve done on here. If you’ve paid attention to what I’ve written, you know that I wasn’t always a frugal person that knew how to save as much money as possible and take control over my own finances. Instead, I made a lot of mistakes at first and I only wish someone would have helped me out, before I had to go down a dark and dreary road of debt and mismanagement. That’s why I teach my kids about the importance of money, so hopefully they will learn from the mistakes I made in my past.

Today, I’m going to do the same thing. If you’re in your 20’s I’m going to give you some tips that will help you manage your money, so you’ll have a bright future ahead of you with less headaches than what I had in my 20’s.

Live Frugally

Okay, so you’re fresh out of college and you just got that fancy new job that requires you to live an entirely different lifestyle. Chances are, you’ll have to purchase some new clothes that are more professional and you’re maybe even thinking of going as far as getting a new car. Instead of doing all of this, you should live frugally. Pretend you’re still a broke college student that’s just trying to scrape by. Do this until you’re more aware of your salary and all of your expenses.

Live at Home

Did you know that as many as 85% of students that have graduated college actually move back in with their parents? This is a good option, because it will allow you to save some money that you could use to pay back student loans and prepare for the future.

Get a Credit Card, but Avoid Using It

A lot of students get credit cards and get themselves into a ton of financial trouble, because they end up owing a credit card company a ton of money with high interest rates. Get a credit card and avoid using it unless it’s an absolute emergency.

Get Out of Debt

It’s important that you start trying to get out of debt as soon as possible. Try to double up on your loan payments or do whatever it takes. That way, you can avoid extra interest charges and be out of debt sooner.

Have an Emergency Fund

Open a savings account and put as much extra money in there as possible. I suggest always keeping $500 in an emergency fund at the bare minimum. You never know when an emergency could come up, such as car repairs, so it’s always best to have some money saved just in case.

Create Goals

It’s important that you sit down and create some goals for yourself. That way, you know exactly what you need to do to achieve your long term dreams and you’ll be more likely to reach them. Just make sure your goals are realistic and give yourself plenty of time to accomplish them.

Today, I’m going to list out some financial tips that will help us ladies build a solid financial foundation. The advice in this post is going to be fairly broad and isn’t going to be targeted at any specific set of people. Instead, it’s going to be geared towards different women at different stages in their life. Whether you’re a full time employee, business owner, or a stay at home mom trying to manage family finances, the information in this post will be beneficial to you. Scroll down now to get starts on this list of financial tips that are for women.

#1. Actively Participate in Money Management

A lot of women will allow their significant other to take care of all the finances, but this isn’t such a great idea. Some women end up in big trouble, because they end up getting a divorce or their significant other dies. If this happens, you could find it very difficult to become financially secure and financially stable. That’s why I suggest that you take part in money management throughout your life. If you want, you could sit down with your significant other and you could both work on the finances together.

#2. Don’t Keep Secrets from Your Significant Other

Did you know that a ton of women out there will actually keep financial secrets from their partner? This is especially true in the early stages of a relationship. If you’re in a serious relationship, such as living with your significant other or you’re married, you shouldn’t keep financial secrets from them. If you have an overspending problem, you should tell them about it. If you have some past credit card debt, you should tell them about it. It’s important that you be open about your financial situation.

#3. Get Out of Debt

A ton of women out there are struggling with debt right now. Debt is a huge burden that you need to get off of your shoulders as soon as possible for many reasons. Chances are, you’re paying interest on your loans, so the longer you take to pay off your loans, the more interest you’re going to pay out. Also, debt causes a ton of stress. Once you’re out of debt, you’ll definitely be in better spirits.

#4. Save Money

It’s important that you save money. I highly suggest opening up a savings account and storing extra money in there. Life is full of surprises and you never know when an emergency could arise and you need money to get you out of a sticky situation. Having a savings account with money in it will give you peace of mind.

#5. Create a Budget

Create a budget for every single month and stick to it. That way, you know where your money is going to go for the month in advance and you will know how much money you’ll be able to save. Stick to the budget to save more money. Having a budget will also make your life less stressful.