How do women define financial freedom?
The word financial freedom is often used to describe having enough money in the bank to live the lifestyle you desire. For some, that may include a house, vacations and retirement savings. For others, it may be the ability to work when and how you want.
Financial independence is the ability to support oneself without relying on others. The idea of being financially independent can be intimidating for some, but it’s a crucial step for everyone to take.
Women define financial freedom differently, but they all have the same goal in mind: to have the money they need to live the life they want, ideally on their own terms. It’s all about knowing what you own and owing, living below your means, saving and investing and planning for your future goals.
For many, this might mean buying their dream home, sending their children to college or traveling the world. It might also mean paying off debt, saving for retirement and establishing contingency funds in case of emergencies.
Money Talks for Women’s goal is for you to build a wealth plan, overcome any encumbrances and achieve the lifestyle of your dreams. Being financially free is a key step toward being self-sufficient and confident. It’s a huge boost to your confidence in your personal and professional life, which can make a big difference in how you handle your finances.
Women are often hesitant to have conversations about money but a new study from Bank of America finds that women are becoming more comfortable with talking about their finances than ever before. The survey polled more than 3,500 women ages 22 and up and found that the top indicators of financial freedom for these respondents are having a plan in place, being debt-free and creating a nest egg.
Money Talks for Women is committed to creating a “safe place” for women to learn and achieve financial wisdom.
Money Talks for Women is committed to creating a “safe place” for women to learn and achieve financial wisdom.
Having a plan in place allows you to know how much you need to save each month to reach your financial goal. It will allow you to set your own timeline for saving and to make sure you have the right investments and savings strategies in place for your goals.
Achieving financial freedom can be a challenging and rewarding experience. But there are some easy steps you can take to start the process.
- First, establish a clear vision of where you want to be in 5 years, 10 years, or even 20 years. Then figure out what tradeoffs you are willing to make to reach your target.
- Once you’ve established your goals, work with a financial planner to make sure that they are aligned with your long-term objectives.
- A good financial planner will work with you to develop a comprehensive financial strategy that focuses on your needs and goals while staying within your budget.
Money Talks for Women teaches how to set SMART goals (Specific, Measurable, Adjustable, Realistic and Time-bound). These are a great way to keep track of your progress. You will become comfortable with your finances. Consistent anxiety, fear or shame over your money can lead to poor decision-making and other financial issues down the road.
Lynn Kitchen will show you how to have sense of control over your finances and make informed decisions about saving, spending, investing and debt repayment. You’ll also be able to set and meet your own goals and track your progress to reach Financial Freedom.
Here’s what I believe: INSIDE, EVERY WOMAN IS AN ACE MONEY MANAGER! That’s right! And that means you! JOIN ME HERE TO GET STARTED TOWARD FINANCIAL EMPOWERMENT (Join the waitlist for my next Money Talks Event at Join the Waitlist for my next Money Talks Financial Clinic in MARCH 2023
DISCLAIMER: This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, investment, accounting, legal or tax advice. Investing involves risk, including possible loss of principal. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness.