Women own less, save less, carry more debt, and are less financially literate than men. That changes now.
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Advice for working toward financial freedom while raising a family?
FEATURED EXPERT:
Jamila Souffrant
Personal finance educator, founder of Journey to Launch, and author of “Your Journey to Financial Freedom”
If you are already paying for daycare, sports, or other kid activities, maybe some things need to go or be done on a budget. Maybe you're not going to Disney or you have to wait a bit and figure out how to do it on a budget. It’s important to be flexible with the goals that you set for yourself and recognize that you actually can't do it all. I always say the best thing you can do for your kids is to just be financially OK, and make it so they don't have to worry about you as you get older. This could mean reframing what it looks like to give to your kids and having conversations about money with them as they grow so they realize its value and accept that you can't do everything.
This interview has been edited and condensed for clarity. You can read an extended version here.
money win
An inside look at how women are building wealth.
“By paying an extra $28 per month on the principle of my car loan, I saved over $1,000 on interest and paid it off a year ahead of schedule.”
— Aly C (RI). Paying a little more now for a lot of financial freedom later? Worth it.
Scored a raise, saved up for a big purchase, or reached another money goal? Tell us about it here. Quotes are edited and condensed for clarity.
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Want better days? A good night’s rest is key. At least, that’s what Candace Reels tells us. And she would know. As the founder of Female Collective, a global community that uses events, affirmations, and cultural conversations to empower, uplift, and celebrate the female perspective, she works hard. Recently, she chatted with us about how investing in her rest has improved her well-being.
What’s a recent purchase you made that paid off in a major way?
I recently purchased new bedding from Bed Threads, which has really changed the game for me.
What was the price tag?
I spent a total of $520 for the bedding (tax and shipping included).
What makes it worth the price?
Sleep is so important, specifically restful sleep. A good night’s sleep helps reduce stress, improves mood and brain performance, and is important just for your general well-being. Now that I’ve found the right bedding — that helps keep me cool at night and prevents night sweats — I'm already feeling so much better!
Answers have been edited and condensed for clarity.
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