Most women are shut down soon after they get married. So, it’s extremely important to have a clear way ahead as a financially independent individual. This will substantially help to track the progress over time and also look for improvements. The main pointers can be seen as under:
We already have seen how the new age woman is striving hard to make a place of her own. She’s giving a new meaning to sexism in the name of power and work. The modern woman is breaking through the clichés of a male dominated society. Financial independence is a much celebrated concept nowadays amongst the women section. So, how can we actually track the quotient of financial independence. Let’s have a quick glance below:
Way of Estimating the Financial Progress in a Shot:
About 20s: Your 20s is the nascent most stage where it’s easy to mold a permanent habit. It is important to start early and learn how to maintain a balance in your spending. Begin with the short term loans firstly and swift to the longer goals. Certainly, there’s more time to build a far-fetched dream.
This is the age for your introduction into the world of saving, investment and wealth creation. To begin and do well will require consistent financial experiences (successes & failures). Quickly learn the real financial theories for application in the near future.
This behavior will gradually build upon your credit score, which will beneficial in times to come! Your credit history is the best determinant for your credit score.
About 30s: With the early 30s, you’re immersed into the idea of earning as much as possible. You make an effort to accelerate your financial journey. You will willingly go into jobs that will gives great money and demands never ending handwork. In the 30s, your life will probably be routed to make expensive purchases like a car, house etc. This is also relevant to invest in credit to make borrowings easy. However, if you’re planning to start afresh in life, then aim for higher financial goals and plans things in view. Focus on your credit score to make financial entries.
About 40s: At 40s, you’re almost reaching the best saturation in your professional career. Here, you start to live a life besides the mundane office life. You feel like exploring places, taking adventures, etc. At 40s, you are also enough capable to pay back the older debts and look into a farther goal. This also can be the best time to ideal on a comfortable way ahead.
Now you at least begin to live your life at ease, and enjoy the fruits of hard work in your 30s. Also, invest time to make newer experiences and memories with family & friends.
About 50s: By 50s you will have to put money into a comfortable outdoor life. This is also the time to make investments into long term properties and assets. The idea is to keep the tap open for steady income and enjoy a peaceful life.