15 Money Habits of Women Who are Never Broke

Some women always seem to have their finances in order, no matter what. They aren’t afraid of a budget, and they know what’s happening with their savings goals.

They also always seem to have money for the things they want to do, but they don’t have stress about making ends meet. So how do they do it?

Below I’ll cover the 15 money habits of women who are never broke so you can never be broke again.

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Habit #1: They Have a Positive Attitude Toward Money And Life

To be successful at anything, you have to start with the correct mindset. It isn’t easy to move forward without this one thing.

Women with good financial direction have the attitude that things will work out well for them and they will have what they need, and they also work hard to make sure that their reality matches up with their mindset.

Related: What Affect Does a Fixed vs Growth Mindset Have on Your Money

An example of this is getting fewer hours than usual at work. These women may start a side hustle instead or advocate for a raise. They think about the big picture and work with what they have as they try to do better. 

This habit is one that you can start immediately. It requires nothing except being willing to see things differently. Start with visualizing your goals.

Where would you like to be a year from now? Then, think about what steps to take now to achieve that future outcome.

Women with money think about what they can learn from each situation, grow from their mistakes, and are always willing to believe the best about life and money. With finance, they believe they can increase their income and work towards success.

With life, they think about continually improving and things getting better for them. Remember that mindset is the number one key to being good at anything.

Habit # 2: They Create Budgets

One of the best money habits of women who are never broke is having a guide to help them know how much to spend and save. Then, once they’ve decided on how to spend money, they stick to their word.

This means that if they have $100 for fun money and it’s already gone, they stay home rather than going out.

Budgets are things that help us to stay on track. And they don’t have to be complicated.

To copy this habit, use my free simple budget template or try out more in-depth budgeting worksheets.

The basics of a budget are that it keeps track of your expenses, savings, and debts. It helps you to pay off things you owe and create more wealth by saving consistently. Over time, following a budget can make you wealthy.

Habit #3: They Don’t Spend Money They Don’t Have 

Getting into debt can happen without a lot of thought. And the more you rely on credit rather than money you have, the harder it is to get out of debt.

Women with money know this, and they avoid spending what they don’t have. Instead, they prefer to save up for items or experiences they want and are comfortable telling others no because it’s not in their budget at the time.

Use an envelope or tracking system, so you know when you’re getting close to overspending in a category. Know that it is perfectly okay to say no to an activity because you don’t have the money.

Being successful financially doesn’t mean buying everything you want. It means prioritizing so you can do as much as possible with what you have.

Habit #4: They Know The Difference Between A Need And A Want

Needs are things that we need for living. Things like a place to live, food, insurance, basic clothing, and transportation are all needs.

Wants are pretty much everything else. It’s things you would like to have but can survive without, such as designer shoes, a brand new TV, or expensive furniture. 

Women who are never broke know the logic here is simple: take care of your needs, and save up for wants. They never sacrifice a need for a want, as it will not help them long-term.

They are okay with saving up for wants over time and know that if they can’t pay for everything they need, having what they want is not a priority.

Habit #5: They Set Spending Limits

Even if you have the money, it doesn’t mean you need to spend all of it. To keep their finances in order, one of the money habits of women who are never broke is setting spending limits.

They realize the importance of saving for their future and not using up their whole paycheck every month.

One way to try this out is to use one account for spending and only put as much money in the account as you’re willing to spend. Then, when you hit your limit, you must wait until it’s time to fill the account again. 

The keyword here is self-control. For example, when you make a large purchase, try giving yourself a maximum amount that you won’t go above. It will help you stay on budget and also make good money choices throughout your life.

Habit #6: They Are Motivated

To succeed with finances, you must stay motivated. It’s essential to work towards goals and keep yourself focused on them. Women with their finances in order find out what motivates them and keep that in their minds as they move forward. 

Related: Here are 100 Rich Mindset Quotes to Motivate You

To do this in your own life, ask yourself what your main motivations are – family, a career you love, travel, or whatever this is for you – and use that to help yourself reach your dreams. 

Staying motivated requires discipline, and working hard, even when you’d rather not. But know that more motivation comes with achieving goals.

You can do this by being dedicated, even when you don’t necessarily feel motivated. When you reach a goal, you’ll be inspired to continue.

Habit #7: They Set Financial Goals

Women with money are great at setting goals and checking them off. They aren’t afraid of the time and effort their financial goals will take, and they make step-by-step courses of action to get there.

If you don’t make a goal, you don’t know where you’re going, meaning you won’t accomplish much. But if you set financial goals and remind yourself of them daily, you have something you’re moving towards.

Related: Intermediate Financial Goals Everyone Should Have

It can help because if you feel that you’re off track, remember your goal and determine if you’re moving closer to it or further away. From there, adjust your course for success.

Use this free financial dashboard to set savings goals as well as tracking your retirement and net worth.

Habit #8: They Save

This is a big one! Successful women got that way because they save.

With savings, they can cover emergencies and other expenses. They know that saving money for the future matters, and they include that in their plans.

If you spend all you earn, there won’t be anything to show for it later. Many things are worth saving for, including retirement, a home, and other purchases. Make a habit of saving money each week or month. 

Related: Emergency Fund vs Savings – What’s the Difference?

You can save for several things at once by using multiple accounts or dividing your money into sections within your accounts. This will help you to see the funds multiplying as you continue to add to it.

Habit #9: They Invest

One of the top money habits of women who are never broke is they take the time to set up investing plans and add money to them consistently. It can take the form of an IRA or some other investing opportunity.

They know that it may not seem like a lot at first, but over time, it will grow, and they’ll end up with much more than what they started with. Meet with a financial planner to help you figure out the best investments for your goals.

Investing is helpful for many things in your future, and the more time you have, the better. With compound interest, investing can pay off big time years from now. 

Habit #10: They Plan Ahead

Don’t just think about today, this week, or this month. Instead, women who are never broke spend time thinking about what’s ahead.

It means planning out their finances and goals for the coming year and many years after. Planning doesn’t mean things can’t change; it just helps to know where you’re going.

Be prepared and think about what you want out of life. So dream big – if you want to make six figures a year, think in specifics.

How many years from now? What job do you have? Ask yourself questions to get the results you want.

Related: How to Become a Millionaire from Nothing

Habit #11: They Don’t Procrastinate

Women with money know that the time for action is today. It’s easy to think about retirement, investing, and saving as things to do in the future.

But sooner or later, those things show up in our lives. It’s our choice whether we’re ready for them or not. 

So don’t procrastinate. Get started on that side business, investing, or finding a better job now, so your future will be what you imagined.

Habit #12: They Avoid Emotional Spending

Emotional spending happens when we see something we want, and we react to it through emotion. For example, all of your friends may have a new designer handbag, and you want to fit in, so you buy one even though you can’t afford it.

Emotional spending can also be impulsive, like candy at the checkout stand. Avoid these purchases by knowing what you’re going to buy before you enter a store.

Related: 7 Tips for Stopping Impulse Spending in its Tracks

When financially successful women want something that is not a need, they ask themselves why. Then they wait for a while before buying to let emotions about the item settle.

Habit # 13: The Educate Themselves About Money

Finances may have some core concepts that don’t change, but there are always new ideas and techniques to learn about. The money habits of women who are never broke include educating themselves about financial principles.

You can do this too through videos or blog reading, books, courses, and more. Try to hear many different perspectives and research subjects you’re interested in to keep current.

That way, when a financial opportunity comes up, you’ll already have some knowledge to help you decide what to do.

Related: 4 Pillars of Personal Finance That Everyone Should Know

Habit #14: They Have Multiple Income Streams

Having just one income is no longer a good idea for your finances. Money-savvy women know this, and they build up incomes over time.

This might mean they make money from their full-time job, a side hustle, and some investments. That’s just one way to do it.

Most millionaires have seven income sources. If this sounds like a lot, don’t worry.

Start by adding a second income stream to your first one. Then, once that is working well, begin another, and so forth.

The main idea is risk management. If you have multiple income streams and you lose one, it affects you less than if it was your only one.

Related: Passive vs Active Income

Habit #15: They Reward Themselves

Successful women reach for their dreams and work hard at their finances, but they also know that it’s important to enjoy life. And they’re just as prepared to do that as to work hard.

Taking a vacation, buying something you want, or taking a day off are all great ways to reward yourself, and you should do this often to keep yourself motivated. Otherwise, you may find yourself working around the clock but then wondering why.

Related: Essential Budget Luxury Travel Tips

These Are The 15 Habits Of Women Who Are Never Broke 

Women who are never broke know that these 15 habits are essential for financial health and their lives. Following similar practices is a good idea to help you get on a successful path with money.

If you feel overwhelmed by all 15 habits, start with one. Then, work up to a second and a third until you think you have formed a good routine.

It will help you for the rest of your life, and there’s no better time to start than right now.

To start using the money habits of women who are never broke, understand patience and flexibility with finance. Be willing to change your habits and ideas to better reflect what you want, and know that while growing money takes time, it’s worth it.

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Steffa Mantilla

Certified Financial Education Instructor

Steffa is a Certified Financial Education Instructor (CFEI) and the founder behind Money Tamer. Her 12-year background in operant conditioning and positive behavioral change training is used to help people find effective motivators to change their harmful money behaviors. Steffa explains the reasons “why” behind people’s financial behaviors and how to successfully change them. After paying off over $80,000 in debt through budgeting, she now teaches families how to get their own finances in order. You can learn more about her here.

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