It is a general belief that the female community needs to be empowered. Yearly budget especially in the African countries carries different empowerment programs geared towards raising her and given her voice financially in the society. Now how effective are these policies and programs? As an individual who is pictured as a weaker vessel, how well have you transformed what you have benefited from different programs to sustain you financially? The little you have can be multiplied if you are cautious of some financial mistakes you might be making. You cannot avoid them if you don’t know what they are.
Below are three important financial mistakes every lady must avoid.
- Absence of Savings
When you don’t have a spare fund, you either deplete your bank account or go into debt. No matter how little it could be, never ignore the importance of savings, when you start watching your savings grow, you will feel much better. And don’t forget about a retirement fund. It is also important.
- Getting into more debts
Sometimes debts are unavoidable, but try to distinguish between unnecessary debt and necessary debt. It is really hard to save up for something you want but don’t get into debts! Many debts are as a result of making purchases without thinking it through. Think it through before making the decision.
- Having wrong attitude towards money
Having wrong attitude towards money is another major attitude. Money is to aid your life. Don’t be consumed with the urge to acquire more by giving out of your way to acquire it. While it is okay to strive for more, you should not let it consume you. The lists are inexhaustible; however these little points should be checked and worked on to have a financial life without stress.
