Boss Lady

5 top money tips for financial success


There comes a time in every working woman’s life where the transition happens from “having a job” into “having a career.” Now, yes, this does occur at different stages for different people, but what I’m sure is universal for all of us at some point is the realisation that I don’t really know how to handle money. But you’re never too young (or old!) to make smart money decisions, and the earlier the better, so here are some of my top tips to get you towards financial success:

1. Budget

Yes, this is quite self explanatory. And yes, budgeting can be quite a scary concept. I mean, nobody likes the thought of cutting back on clothing purchases! But tallying up your weekly or monthly needs and expenses will allow you to track your purchases more easily, and let you monitor your savings in a clearer way. If you know exactly how much you’re setting aside every paycheck, you’re less likely to dip into it.

2. Get out of debt

New data from a survey conducted by is showing that the average Australian can reduce their borrowing capacity by over $100,000 if they already have credit card debt or personal/car loans in their name. So before you think about buying property or taking out another loan, try to dig yourself back out of that financial hole! Even small payments now will help you more down the track.

3. Set clear goals

If you don’t know how much money you want, the chances are you won’t end up with much further on. Instead, try and hit both regular financial goals, and bigger, more long term ones. An annual goal as well as a monthly goal will help to keep your mind and spending on track.

4. Think before you buy

Big purchases, like a property or a car, are big investments. And yes, they can have big rewards. But they can also be extremely detrimental to your wallet. So even if you do want that new car, try and think about whether there are some more affordable options that can do the same thing, and make sure you know what you can actually afford, before you jump into a transaction head first.

5. Treat yourself

Now, I know this does contradict my other 4 tips, but giving yourself a little reward every now and then isn’t going to hurt you. In fact, it will encourage you to keep saving, by still demonstrating that you can have things you want, and be money-savvy at the same time. Just don’t let your “treat” be a private jet.

Being financially successful isn’t something that comes with age. Unfortunately, it comes with discipline and practise. But try out my tips, and let me know how they go — your bank account will probably thank you for it!

About Bessie Hassan

Bessie Hassan is the Australian Head of PR and Money Expert at Australia’s largest financial comparison site, She is passionate about helping people find better deals and save money, and regularly blogs on the topics of money and finance. If you have any questions for Bessie, please feel free to email her at [email protected]

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