Becoming A Wealthy Woman on A Budget

Disclaimer: The purpose of this blog is not to sell you get rich schemes, but to inspire you to be an empowered steward of the resources you presently have and to show you that building generational wealth is still possible, even on the financial road you may be walking on right now.

Here's the truth:

Becoming A Wealthy Woman takes T-I-M-E; time.

You can now take that deep breath in and let it all out.

You don't have to put yourself under pressure to have it all together in a short space time. Becoming financially literate is a process that takes a lifetime.

Take me for an example. It took me three years to pay off $40K (20K US) in debt. I'm still in the process, but I'm much freer cash flow wise to accomplish other financial goals.

Was it a long road? Oh absolutely. It took lots of sacrifice, but it was in worth it in the long run to be in a place where I no longer have car payments to make.

So how does one Become a Wealthy Woman on a Budget?

By changing your relationship with your money:

1. Examining your place of Origin

2. Renewing your Mindset

3. Changing your Behaviour

4. Fostering your money's Growth

As show in our diagram below.

Examining Your Place of Origin

You can take some time to ask these questions in your down time. Do not feel pressured to have all of the answers right away:

1. Who did I grow up with?

2. How did they influence me about money?

3. Who am I presently associating with?

If you take a deep dive into these questions, you will come to discover the reason why you behave the way you do with your money.

Renewing Your Mindset

Yes, I'm giving your more questions you could take a deep dive in:

1. What do I need to change about the way I view money?

2. What do I need to change about the way I see myself?

When it comes to renewing your mind, it comes down to your value system.

Are you valuing the money you earn? Do you see it as seed that has potential to grow?

Are you valuing yourself and taking the necessary steps to get yourself in a healthy position financially?

Changing Your Behaviour

After you've taken that deep dive, you may come to realise there's a need for change.

So you maybe wondering what would be your next steps to begin building wealth.

1. Get to know your numbers better: Take one month track your spending. You maybe surprised to see where your money is going.

2. Set your goals: Based on your financial situation, you would be able to devise a plan that works for your unique financial situation.

3. Choose one debt to pay off this year: Set your money free so you could accomplish more of your financial goals. All it takes is paying off one debt (with the smallest amount first) to begin your financial healing.

4. Rebuild your savings: If you can't save $100 a month, that's okay. You could begin with $10 or even $20. You could even begin rebuilding your savings whle you're repaying debt.

Fostering Your Money's Growth

To grow from owing to Owning:

1. Invest in yourself: It could your education. It could be a new skill. It could even be your health. You never know what income you could begin to earn.

2. Have another source of income: What you're good at naturally could be the other of source income you could be looking for. But please remember that not every hobby is a business idea.

3. Don't place all of your eggs in one basket: If your only source of income dries up. It will place you in an uncomfortable position. Diversify the way you earn.

With a budget you can become wealthy, but it's going to require time, discipline and consistency.

I strongly believe that you will find yourself in a healthier financial position like I did.

Who knows one day, you may find yourself in Dubai (or your desired destination) rewarding yourself (in a budget friendly way of course) for all of your hard work done.

If I could do it, you can do it too.