In FULL TRANSPARENCY mode, I started the year in heartbreak……but did I really? I actually started the year in dependency and submission. My entire focus was on making someone else better. While I was making someone else better, who was taking care of me? So I found myself sick, poor, broke and hungry sleeping on my mother’s sofa with my kids no less while living off $184 a month in child support and my life savings to survive.
I didn’t recognize myself in this emotionally, mentally and nearly physically abusive relationship and it was at that moment I thought to myself; “How in the hell did I get here?” How did this beautiful, educated black woman go from multiple television opportunities, an amazing career, happy, etc. to this??? “My daughter would not be proud of me right now.” Is what I told myself.
The answer was simple. I didn’t prioritize myself or my future and most importantly I didn’t have a solid financial habit. So instead of drowning in self-pity, I bossed up and got busy.
After holding myself accountable for my own situation. I exceeded my annual financial goals and I didn’t allow a piece of man destroy my peace of mind. I chose financial, mental, and emotional freedom, I realized; why am I even thinking about companionship when my sh*t isn't together? I am my number one priority. Think about it; even on an airplane - they teach you to save yourself first.
All successful women who have formed financial habits have certain key things in common. If you want to be one of them, and to achieve financial independence, you should know their financial habits.
So allow me to reintroduce myself. I am Nakita Nicci and I am just a girl boss who built her empire back up in 12 months.
Here's my playbook:
Here are 10 financial habits of successful women:
- They know what their income is and where it comes from.
Successful women who have good financial habits know what their income is and where it comes from. They know how much they got paid last month and earn money from side hustles. If you want to form good financial habits, you should keep track of your all income streams. Right now, I have three streams of income.
- They know all of their expenses.
Successful women know all of their expenses such as bills, rent, credit card debt, etc. Also, most automate their bills since they don’t want to waste their energy thinking about what is due and when.
If you want to have good financial habits, you should know your expenses and have a budget for all expenses.
- They have savings.
Successful women are aware of the fact that unexpected things can happen. For this reason, they have savings and contribute to them regularly.
In order to have a good financial habit, you should have savings, too.
- They have a budget and stick to it.
Successful women who have good financial habits have a budget and stick to it. Because they know the importance of the budget and can’t save without a budget. If you want to form financial habits, you should make a budget. By making it, you have the opportunity to follow your incomes and expenses. Which means I cook well at home, I learned how to shop 2nd hand and most importantly I learned how to stick to my budget and say no.
- They find ways to increase their income.
Successful women have at least two sources of income and they keep trying to find new ways to increase their income. If you want to become financially free woman, you should create multiple streams of income. Financial Expert Jeri Toliver taught me how to leverage my credit cards to get out of debt.
- They know the importance of investing themselves.
Successful women know their value. They are aware of the importance of investing themselves mentally, physically and financially. Even if they have a limited budget, they find a way and allow money for themselves in their budgets. Because they know that without improving themselves, they can’t reach their goals. So, if you want to be a successful woman, you should know that you are the most important thing you can invest time and money on. READ THAT AGAIN SIS!!! So I invested in my credit, Remus Jackson of the 850 Life, helped me raise my credit score from the low 500's to the high 700's.
- They have an emergency fund.
Another financial habits of successful women is having an emergency fund which helps them to pay for unexpected expenses.If you want to become a financially independent woman, you should have an emergency fund to be ready for unexpected events. One of my streams of income I strictly use for savings only. It automatically goes to a savings account at a bank that's not near me. I don't take that ATM card outside with me.
- They avoid unnecessary expenses.
Successful women who have good financial habits avoid unnecessary expenses. They look for ways to cut their expenses. Because they know that they can’t invest their money without cutting their expenses. So, they prefer to invest their money in rather than spending unnecessarily. If you want to apply the financial habits of successful women, you should avoid unnecessary expenses, too. While I drive a Mercedes, I also have a company car I use for work, keeping the miles low on my car. I make a habit now to check interest rates and I cancel memberships that I don't find beneficial. I don't need cable if I have a smart TV, I have internet and Netflix. I plan on using the entire 2020 purchasing properties off Tax Sales thanks to Neko Cheri of Excell University.
- They think about the future.
Successful women who have formed good financial habits think about their future. Because it keeps them ambitiously saving and planning for a better financial condition. If you want to become a financially independent woman, you should become future-focused.
- They plan for the retirement.
Most women think that retirement is far away. But successful women take it serious and plan for their retirements. If you want to become financially free woman, you should plan your retirement early because it will come faster than you think.
LinkedIn: Nakita McGraw