3 Lessons For Women: How To Empower Yourself Financially


3 Lessons For Women: How To Empower Yourself Financially

This may end up being the most important article you read all year. Really!


3 Lessons For Women: How To Empower Yourself Financially

Minimize and Track

As glam girls on the go, we’re exposed to so many fabulous products and services that we often have too many choices to choose from. But the problem is, not every product and service is good for us, even if it is good to us.

I know, I know: I sound like such a MOM. Ug. But let me explain what I mean.

Skipping those three trips to Starbucks a day, or packing a lunch instead of buying one, will save you almost $20 dollars a day; invest the $600/month you saved, tack on compounding interest, and voila — in 30 years you’ll have over a million dollars saved.

Wondering how we came to that? It’s easier than you think. Check out this handy calculator. All that saving, if invested well with a good financial planner, could add up to a lot more than you imagined it would, over time. Just imagine what you could save if you skipped those a few (admittedly, unnecessary) seasonal Montclair or Prada purchases and invested the money instead!

It sounds banal, but it’s time to start taking full responsibility and accountability for your spending.

Step #1 is to set up a budget. It’ll help you figure out where all your money is going and where you can cut back a little. Until you step back and properly assess your financial situation, you won’t be an effective saver.

Radius Bank‘s banking platform has built-in budgeting features, and doesn’t drip-drain your bank accounts by charing hidden fees. Instead they drip money IN and help your savings grow by adding interest! Ka-ching!

Step #2 is to emotionally commit to living a low-waste lifestyle. There’s a big movement amongst bloggers and other influencers to lead a less consumer-focused lifestyle. Minimal is the new luxury! Between the book The Life-Changing Magic of Tidying Up (seriously, read it!), which caused an absolute sensation, and all the news about the zillions of pieces of plastic packaging in the ocean, this is a trend that’s here to stay.

If you want to build (and keep) your financial worth, don’t spend much of your money on non-appreciating assets like luxurious clothes, cars, toys, yachts, or a giant collection of designer handbags. Before you buy an item think, is it a want or a need? What about that gym membership, club renewal, or that third pair of cute little black heels? Cancel your $150 cable subscription and get Netflix instead. Use my tips to shop on eBay and get your heels for 90% off. Cut and color your hair at home to save on expensive salon fees. I do!

Radius offers a free Money Management Academy, and I highly recommend you check it out. It’s full of useful info that could make the difference between you saving enough to upgrade to the house of your dreams, versus getting stuck with ‘that house that was all you could afford’.

Once you’ve mastered the art of consumer minimalism, and seen how much money you were actually wasting of stuff you don’t need, it’ll be easier to spend less and save more. As they say — a penny saved is a penny earned!

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A writer, artist, and designer since she was young enough to put pencil to paper, Hilary taught herself code and created Urbanette when she was a teenager. Currently, she spends most of her time traveling around Europe, with pied-a-terre's in Zurich, London, Milan and Lyon, France. Hilary spent the past decade living in NYC, still considers herself a New Yorker, and visits regularly. She's always looking for hot new topics, destinations, and life hacks to bring to Urbanette readers.

Reader Discussion: 164 Comments

  1. Edna Stumpf

    When you really want to cut your expenses, it’s time to start considering the small things first. But why the small things? In my experience, it’s the small things that amount to bigger amounts of spending. Maybe because I assume that it’s so cheap and spending on it won’t create a dent in my bank account. However, once I start adding up those small amounts, they amount bigger than the rest of my monthly expenses. I was honestly so surprised because it’s really the harmless purchases that really drain your account.

  2. Kelly Dziedzic

    Uh, I think companies have written rules in their handbook regarding sharing how much your salary is so you might want to double check that before talking about it with your fellow co-workers. I was about to resign that time and the manager that we were close to urged me to tell her how much my pay is because she was so curious about how little my salary was because I kept complaining about it and it was my main reason on why I was going to resign. She told me that she’ll keep it a secret because we’re not supposed to be discussing it. She just wanted to help me out with my decision.

  3. Raquel Kepner

    I’m not going to say that we should marry a rich man, but I think it’s smart to marry a man who knows how to handle money and is earning enough money to be able to support a family in the future. It’s not about looting his money for your own sake, but for a tandem of financial stability. Let’s just say that I don’t think it’s ever smart to have a good paying job, then for your partner to have no job or for him to have a very low paying job. Not only is it a recipe for arguments and insecurities, it’s just not… Smart. 🤨

    • Victoria Carson

      I understand what you mean. It’s not similar to marrying a rich man, but more on financial security.

  4. Angela Linville

    When women marry, it shouldn’t be about joint accounts. I think a good man will always appreciate his wife’s financial stability and respect that she has savings of her own. Sure, she has to contribute to the household income but a good man will always let his wife be successful under her own wing. When people get married it only says for richer and poorer but it doesn’t say there that they should merge their assets… LOL. So ladies, have an income that’s solely yours. It’s for your pride and glory.

  5. Betty Galicia

    Control– that’s what most of us need. Do you really need that lipstick? Do you really need those shoes? Do you really need that bag? Do you really need to go shopping 2-4 times every week? That’s what we need to ponder on! Don’t use stress as an excuse to go shopping when you still have no savings for the future. Always remember, even if that lipstick, bag, or shoes are on sale, DO YOU NEED IT? You have to keep in mind that something as little as a dollar can multiply in a matter of weeks and months… YEARS even.

    • Barbara Jimenez

      I don’t even have control.😭

  6. Barbara Scott

    Business isn’t for everyone. So I don’t think this part is applicable to most people. Let’s not give them an idea that it’s the only way for their money to double up or triple up.😚

  7. Georgia Helwig

    I sometimes despise the thought of money making the world go round because it’s the source of all evil as well. Everyone wants to get ahead of another person just for the sake of earning more. Sometimes I just hate whoever it is that invented this shit. Now I have to earn and my whole life depends on it.

  8. Gertrude Molina

    I recently read about a study that a higher percentage of Americans are living from paycheck to paycheck. Almost as if it’s already a luxury for people to have money saved for their future. I would probably appreciate this article more if it was about helping women NOT live from paycheck to paycheck despite the income they have. It’s not for me to judge that the job they have is the one at fault for them living like this, because I know that opportunities differ from one person to another. Not everyone who had a higher education background can always land a good job and not everyone who has no educational background can have little to no luck.

    • Patty Aguilar

      Hmm… This is true. But I guess the readers of Urbanette has certain demographics. So let’s just assume that this isn’t for everyone.

  9. Frances Murphy

    I don’t think something like public speaking can earn me anything. I’m a graphic designer. They appreciate my output but rarely my input.

  10. Rebecca Harris

    We’re a bunch of jealous and insecure beings. Talking about money is synonymous to talking about your stature in life. Not everyone is willing to humiliate themselves or take pride in whatever they’re earning.

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