If, say, you started talking about your relationship and hinted that you were open to receiving advice, everyone from your mother to the local barista would have something to say. But if you started asking directly for their best money advice, chances are you’d be met with deafening silence or “I’m not sure.”
Talking openly about finances remains a taboo subject in many social circles. (I once had a classmate say she was more comfortable asking strangers about their sex life than she was asking how much they make.) Money can admittedly be a loaded topic rife with feelings of guilt, shame, fear, or plain confusion, but it’s one that we’re all better off talking about more. Investing can sound scary (though it doesn’t need to be). We freak out about discussing money with our partners (though we really shouldn’t). And, to make matter worse, we’re faced with the myth that women are “bad with money” (though, yep, that’s a lie).
Granted, there’s no denying that some money matters, like taxes and portfolios, are best left to an accountant or licensed financial adviser to handle. But there are many, many practical little steps we can all take to get a grip on our financial situations and seek out the best money advice the world has to offer.
To round up some of the best money advice out there, we asked Girlboss readers to share their favorite bits of financial wisdom that have helped them over the years. Here’s what they had to say:
Always, always, save—something
Save SOMETHING every month. Even if it’s a fiver. — sarah louise 🥝 (@quesarahsarahx) March 12, 2018
Treat your savings account like you would a monthly bill. Put 10% of every paycheck toward your savings, or designate an amount to save monthly. — GD (@gab_diz) March 12, 2018
Live within your means
Never spend more than what you have. It’s not the salary that make you rich, it’s your spending habits. — Fernanda!• (@ferdurazor) March 12, 2018
Turn your savings habits into lifelong habits
After you get a promotion, continue living as though you were at your prior pay. Save the increase of money that you receive from each check until you have enough in savings to cover 6 months of your expenses. Then strive to save a year’s worth. — Miss April (@vogueandcode) March 12, 2018
Choose friends with the right priorities
Choose friends who you don’t feel you need to look good for. You’ll avoid spending on keeping up appearances (cars, house, gadgets, private school, holidays) and get to be yourself. — deardaughters (@deardottrar) March 22, 2018
Tackle your credit card debt first
If you have bad debt (e.g. credit card debt), pay it off before you start saving. It seems counterintuitive, but actually the math works out that you’ll be better off long term! — Nina Mohanty (@ninamohanty) March 13, 2018
A small amount of money spent is still money spent
Make a chart of how much money you spend. I did with Starbucks and realized how much I stupidly spent there. Ask for the cheap coffee which has a refill if you buy it with your Starbucks card. You’ll spend 2 dollars on two coffees rather than 5 or more in one. #FreelanceLife — lucifer (@luzandrea93) March 12, 2018
And finally, remember, saving is not the be-all and end-all
I’m a super budgeter which is good in many ways, but I can be a bit rigid sometimes. My husband reminds me that the joy of having money is to spend it on things that matter — visiting family members, experiences. Those moments are priceless at the end of the day.— Liz Miller (@izabemiller) March 13, 2018
