11 Financial Habits of Successful Women

Being successful means a lot of things. Being savvy when it comes to personal finance is a must, including these Financial Habits of Successful Women.

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Success comes in many shapes and forms, and it certainly doesn’t happen overnight. But behind every successful woman are financial habits that keep her on track and keep her financially savvy. Because she knows that she is in control of her finances, and her finances don’t control her. 

We take money management pretty seriously here at Project Hot Mess, after all, it’s such an important and misunderstood part of our lives. So copy these habits, add them into your day and be sure to know the 11 financial habits of successful women are habits you can start today. 

1 – She knows exactly what her income is and where it comes from.

How much did you get paid last payday? Do you earn money from shares or interest accounts? Do you know how much? A successful woman knows exactly how much money she has earned and where it has come from. She accounts for it all and makes sure every cent she earns is working as best as it can for her.

Keeping track of your finances is step number one in being in control of them. 

Read This: 3 Simple Steps To Taking Control Of Your Finances

Keep track of your finances with our free Mini Finance Planner:

2 – She knows all of her expenses, when they are due and has limited nasty surprises.

A successful woman never pays late fees because she is organised and knows what is due and when.

She knows her water bill is due in two weeks and has budgeted for it, she knows that she has her business registration fees due at the start of every month and they are always paid on time. She avoids nasty surprises as much as she can but knows they do pop up and guess what? She has a budget for that too.

When it comes to her money, she is organised and on top of it. 

Read This: Financial Advice You Need To Hear From The Guru’s

3 – She never lives a champagne lifestyle on a beer budget.

A successful woman never lives on credit – she doesn’t purchase above her means and certainly does not live a champagne lifestyle on a beer budget.

She understands that this is just an appearance of wealth and she has no desire for that, she is motivated by actual wealth and knows that means so much more than just the dollar figure in her bank account.

Read This: 8 Ways To Save Money Without Feeling Like You’re Missing Out

4 – She has a budget for each pay and sticks to it.

You know those budget planners that allow just one budget for your whole year? Yeah? Throw them out.

When do you EVER have the exact same budget week after week? Even if you’re lucky enough to have a stable pay, your expenses change. Electricity due? Planning a trip away and need to budget extra diesel? Perhaps you’re going out to dinner on the weekend with your family and need to add that expense in?

Budgets that are realistic and account for every known expense are far easier to stick to and allow the most financial control.

Read This: 5 Budgeting Myths You Need To Ignore In Order To Succeed

5 – She pays off her most expensive debts first.

A successful woman knows how much her debts are costing her and pays the most expensive ones off first. She also knows the difference between debt with the most owing and debt that is costing the most money.

Read This: 7 Bad Money Habits You Need To Stop Right Now

Being successful means a lot of things. Being savvy when it comes to personal finance is a must, including these Financial Habits of Successful Women.

6 – She understands the importance of investing in herself.

A successful woman knows her value, she knows how important it is to invest in herself and allows for this in her budget.

While it can be easy to get caught up in sticking to a strict budget and not spending any money on herself, a successful woman knows this makes her less likely to actually stick to her budget for a long period of time.

She rewards herself when she reaches financial goals and allows money for herself in her budget – even if it is as simple as a magazine and manicure. She knows how important it is to feel good in herself.

Read This: 4 Books You Must Read To Change Your Money Mindset

7 – She avoids unnecessary expenses and cuts back where possible.

A successful woman knows that she can easily save in excess of $25 a week from simply making a coffee for herself at home instead of picking one up on the way to work.

She buys her favourite beauty supplies when they are on sale instead of paying full price and she fuels up on a Tuesday because she knows diesel is cheapest that day. She never has to pay late fees because her bills are always paid on time.

A successful woman has far too many important things to invest her money in rather than spending unnecessarily. But she is able to do so, without feeling like she is missing out

Read This: 5 Spending Challenges To Help You Save Money

8 – She understands that just because you can afford it, it doesn’t mean you should purchase it.

Just because you CAN afford to buy the latest Coach handbag, new iPhone, coffee every day or other lavish items… doesn’t necessarily mean that you should purchase it. We all should have treat items and purchase the occasional bigger ticket item… but they are occasional and calculated expenses… not frequent and impulsive purchases.

Read This: 10 Ways To Live Rich Without Breaking The Bank

9 – She has savings.

And she contributes to them regularly. A successful woman knows she needs a backup plan, she knows that sometimes unexpected things happen that could possibly leave her without an income for a period of time, or an emergency could come up which could require a big outlay on her behalf.

Whatever the circumstance, a successful woman is prepared. She is also smart enough to know that these savings need to be easily accessible in case of an emergency.

Read This: 7 Ways You Are Throwing Away Money And How To Stop

10 – She has money going towards a retirement fund.

And these are separate to her savings. Some countries, like Australia, have a mandatory contribution to retirement funds. Other countries, like the United States, require you to set this up and manage it yourself. Either way, you should be contributing to your retirement fund from an early age, as in during your 20’s – not waiting until your 50’s to start contributing.

Either way, you should be contributing to your retirement fund from an early age, as in during your 20’s – not waiting until your 50’s to start contributing.

But remember, you don’t have to focus all of your contributions on an actual ‘fund’ in order to build your wealth. You can do so by adding other long-term investments into the mix and not relying completely on a retirement fund. Smart. 

Read This: When Is The Right Time To Start Planning For Retirement?

11 – She doesn’t let money control her happiness.

Most importantly of all, she knows that her happiness does not rely on the amount of money in her bank account. She doesn’t mope about when there is less money than she would like and she doesn’t need a massive figure in her account to feel good about herself.

She is in control of her happiness and she is in control of her money. She doesn’t let her money control her. 

Read This: Is The Bad Management Of Your Finances Messing With Your Confidence

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  1. I would agree with most of this, but I definitely encourage women to use their credit card and credit lines, so long as they are able to pay off their balances. Doing this could help establish their credit, and credit worthiness is important for anything they want in life; lower rates on loans, renting or buying a house, even getting a job.

    The key though is to understand early on that building credit does not mean going into debt.

    • Ah, see this is very different depending on where you live in the world. I’m in Australia and we don’t have positive credit reporting, only negative. Which is good in some ways and bad in others. So for us, having a credit card is often seen as a negative when applying for a loan and most often your positive credit history has little to no bearing on interest rates. Which is why it’s so important for women to know what rules apply to them based on where they live 🙂

  2. These are great tips! As a college student, I’ve been learning the value of money management & it’s definitely not easy all the time. I use the website mvelopes.com to budget and it’s a lifesaver!!


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