Hello ladies,
This is a post specially for all the women out there – rich, poor, and somewhere in the middle. This post has a special place in my heart because I love helping women get their finances together. The mission of my blog Smart Home Economist is to help women to become financially stable by monetizing their passion.
As a woman who knew nothing about person finance a few years ago, I’m now obsessed with it. I’m a financial Analyst by profession, so my life is pretty much dedicated to helping people with money. So, I have a place near and dear to my heart for helping women like me.

Here are the 7 habits that I see financially successful women doing.

Have specific financial Goals

Financially successful women know how to set financial goals. They know that positive thinking isn’t enough to become financially stable. They have concrete, actionable goals that they plan to use to get them to where they want to go.
There are eight main life categories to consider while creating a goal. Health, relationships, finance, career, personal/ spiritual development, recreation, environment, and service/contribution.
A goal is an achievable aim or target in the future.
One of the most popular goal-setting strategies is the S.M.A.R.T. acronym.
Goals should be:
  • Specific (not vague)
  • Measurable (detailed)
  • Attainable (achievable given where you are now)
  • Realistic (not impossible)
  • Timely (with a definite deadline)
This means that when you create goals, they should be confined, in writing, achievable, and have a deadline.
Goals can be long-term goals (over one year) or short-term goals (less than one year).
You can do this for all areas of your life, or you can focus on a few areas that you want to change the most. Examples of long-term benchmarks are: 5 years out, 10 years out, and 20 years out.
Short-term benchmarks for goals include anything less than 1 year, such as one week or 12 months.
Examples of two bad goals:
1. “Get financially settled by this year.”
2. “Start some investments this year.”
Examples of two good goals:
1. Create monthly budgets the first of every month for the following month.
2. Pay off my credit card every month.
7 habits that financially successful women

Stick to a budget

By knowing exactly how much money you’re bringing in and spending, you’ll be able to focus on the gap and how you can improve next month. You won’t be able to make a change if you don’t keep track of your spending.
If money is tight and you are feeling stressed, you may be tempted not to budget at all. This would be a mistake! There is comfort in knowing the facts, so you need to budget even if it seems like you know you know you’ll be over budget.
Financially successful women stick to a budget. Whether they’re rich or poor, wise women know that managing their money is super important. This means sticking to the budget.
No matter how much money they have, these ladies are managing it successfully. They’re not overspending and they’re prioritizing their financial goals.

Multiple income streams

Financially successful women know the benefits of having multiple income streams. They find out a side hustle which suits their daily routine.

Having a little more money at the end of the month would be 
really helpful. If you’re in debt and unable to quickly repay your debt with your regular salary, then a side hustle is an excellent way to speed up your debt repayment plan.
Having a side hustle also help you when it comes about make a career change.
If you are unhappy in your current career and want to make a change, starting a side hustle is a way for you to experiment in another space without quitting your current job. This is less risky and could bring clarity for you if you’re not sure which direction you want to go in.
My side hustle of choice is blogging. I am planning start with freelance writing in future.
7 habits of financially successful women

Take ownership of their finances

Financially successful women don’t make excuses. They don’t blame their finances on someone else or take a victim mentality.
They do not blame anyone else for spending too much on shopping. They do not blame anyone for failing to pay the credit card.
They do not blame anyone else for getting fine due to non-payment of vehicle insurance.
Instead, these women take ownership of their finances and are empowered to succeed financially.
They have a proper understanding of their income and expenses. Their Credit payment terms.
They do believe that someone can make them financially stable is only them.

Have a proper retirement plan

To become financially successful you should know the value of time and money. Time is on your side when you are young. The older you are, the less time you have to save for retirement.
In order to grow your money through investments, to have enough saved for retirement, you need to invest over time – a lot of time.
Financially successful women know the importance to save for retirement. They keep aside a portion of their income for their retirement.
They do have a plan to save for retirement while getting out of debt and building an emergency fund. They won’t put everything else towards debt.
A better option is automating retirement savings and trying to increase income(start a side hustle) to repay debt as fast as possible.
7 habits of financially successful women

Says No to credit card

Credit cards can be good tools in the right hands. They are good if you know how to manage them.
But lemme say one thing, the credit card gives an overconfidence about your financial strength. It might tempt you to spend on unnecessary things.
As credit cards give an option for paying the amount in Equal Monthly Installments (EMI), people tends to buy things of high price and convert it to EMI.
But most of them doesn’t even know that there are a conversion charge and interest getting added to the total payment amount.
Financially successful women avoid using credit cards. Even if they use Credit cards, they use it wisely. They use it for building credit and for earning points, etc..

Knows when to say no

Financially successful women know when and how to say no.
One of the best habits you can do for yourself is to learn how to say no with confidence and without feeling bad about it.
This doesn’t always come natural, so if you’re not there yet, keep practicing. Practice makes it easier. Be open and honest with people.
Let them know that you’d love to, but it’s not in the budget right now. If you feel really bad about it, still say no, but deal with your feelings separately.
If you decide no is the right answer for you to make, then that’s what you should make, and learn to deal with your feelings about it separately. I promise this does get easier with practice!


Financially successful women are responsible, goal-oriented, high-achievers, and overwhelmingly generous.
The 7 habits of financially successful women are:
  1. Have specific financial Goals
  2. Stick to a budget
  3. Multiple income streams
  4. Take ownership of their finances
  5. Have a proper retirement plan
  6. Says No to credit card
  7. Know to say no
These women are my heroes. They’re amazing.
If you like this article, pick one item on this list to improve on and set goals to move you closer to accomplishing this item.
You can do it because you are awesome!!
The 7 habits that financially successful women are: 1. Have specific financial Goals 2. Stick to a budget 3. Multiple income stream 4. Take ownership of their finances 5. Have a proper retirement plan 6. Says No to credit card 7. Know to say no

Author: Soumya

Finance Analyst by Profession and a Blogger by Passion. I love learning new things every day and sharing my knowledge with others. I help women make their dreams into careers, monetize their passion, build businesses and understand their finances. Smart Home Economist (SHE) is a place to learn about Managing your finances, Blogging, Be Your Own Boss by starting your own business and mommy’s life.

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