You can't get out of the broken cycle unless you change your system. We live in a world where people are influencing us, social media, low wages, inflation, and bad job markets are making the middle class virtually nonexistent. The average woman does not benefit from being a working girl. In a bad economy and with unhelpful government policies, people have difficulty getting ahead. Nowadays, it is challenging to become an independent adult. 

It's impossible to use the old Canadian playbook anymore. This generation is working hard and not seeing any benefits. In 1990, your parents made 80k. To afford the same lifestyle in 2024, you will need $246,000 in today's dollars as you did in your parents' days. Money plays a significant role in our daily lives. Developing practical financial strategies, shifting your mindset, and empowering yourself are all necessary to break the broken money cycle as a woman. 

1. Understand Your Finances

- Track Your Spending: Start by tracking every expense to see where your money is going. Apps like Mint or YNAB (You Need A Budget) can be helpful.
- Create a Budget: Set up a realistic budget that covers your needs, savings, and wants. Stick to it and adjust as needed.

2. Mindset Shift

- Value Yourself: Believe that you deserve financial stability and abundance. Work on building confidence in your ability to manage and grow your money.
- Avoid Comparing: Focus on your own financial journey instead of comparing yourself to others.

3. Increase Your Income

- Negotiate Your Salary: If you're employed, research and prepare to negotiate a higher salary or ask for a raise.
- Side Hustles: Consider starting a side hustle that aligns with your skills or interests to bring in extra income.
- Invest in Yourself: Take courses or workshops that can increase your skills and earning potential.

4. Cut Unnecessary Expenses

- Eliminate Debt: Focus on paying off high-interest debt first. Use methods like the snowball or avalanche approach.
- Reduce Subscriptions: Cancel subscriptions and memberships you don’t use often.
- Be a Savvy Shopper: Use coupons, buy in bulk, and take advantage of sales. Practice delayed gratification to avoid impulse buying.

5. Build Savings and Invest

- Emergency Fund: Aim to save 3-6 months of living expenses in an emergency fund.
- Automatic Savings: Set up automatic transfers to your savings account.
- Start Investing: Learn about low-risk investments like index funds or consider working with a financial advisor.

6. Seek Support and Education

- Financial Literacy: Educate yourself on financial management through books, podcasts, or online courses.
- Join a Community: Find a support group or community of women focused on financial empowerment.

7. Practice Patience and Persistence 

- Set Goals: Break down your financial goals into small, achievable steps.
- Stay Consistent: Stick to your budget and financial plan, even when it gets challenging.
- Celebrate Small Wins: Acknowledge and reward yourself for progress, no matter how small.


HOW TO LET GO OF THE BROKE GIRL MINDSET 

Breaking free from the financial barriers from the "broke girl" mindset requires a combination of mindset shifts, financial planning, and self-improvement. Creating a solid financial plan can help anyone break free from the broke-girl mindset and build a more empowered and abundant financial future. Everyone Finical success is different and your priority are also different. The path and results are always based on your circumstances. 

1. Shift Your Mindset

- Adopt a Growth Mindset: Believe that your financial situation can improve with effort and learning. Avoid thinking of yourself as "broke" and instead focus on being "in transition."
- Positive Affirmations: Use affirmations like “I am worthy of wealth,” or “I have the power to create financial abundance” to rewire your thinking.
- Focus on Abundance, Not Lack: Train yourself to see opportunities for growth and abundance rather than focusing on what you don’t have.

2. Set Clear Financial Goals

- Short-Term Goals: Set small, manageable financial goals, like saving $500 in an emergency fund or paying off a specific credit card.
- Long-Term Goals: Aim for larger goals like building a down payment for a house or saving for retirement. Break them into actionable steps.
- Visualize Success: Create a vision board or use visualization techniques to see yourself achieving these goals.

3. Educate Yourself

- Financial Literacy: Learn about budgeting, investing, and financial planning. Read books, take online courses, or listen to finance-focused podcasts.
- Understand Your Relationship with Money:** Reflect on your money habits and identify any negative patterns, such as emotional spending or avoiding money management.

4. Create a Financial Plan

- Budgeting: Develop a budget that works for your current income and spending habits. Use tools like Excel, budgeting apps, or a simple notebook.
- Debt Repayment Plan: If you have debt, create a plan to pay it off. Focus on high-interest debt first and consider using the snowball or avalanche method.
- Savings Plan: Start with an emergency fund, then move on to saving for other goals like travel, education, or investment opportunities.

5. Change Your Financial Habits

- Track Your Spending: Keep a daily or weekly log of your expenses to understand where your money is going.
- Practice Delayed Gratification: Wait 24 hours before making any non-essential purchase. This helps curb impulse spending.
- Automate Savings: Set up automatic transfers to your savings account. Even small amounts can add up over time.

6. Surround Yourself with Positivity

- Join a Supportive Community: Surround yourself with people who encourage your financial growth and have similar goals.
- Avoid Negative Influences: Distance yourself from individuals or environments that encourage bad financial habits or a scarcity mindset.

7. Empower Yourself

- Negotiate Your Worth: Whether it’s your salary, freelancing rates, or any service you provide, learn to negotiate and advocate for what you’re worth.
- Diversify Income Streams: Consider side hustles or passive income opportunities to increase your earnings.
- Invest in Yourself: Continue learning and developing skills that can increase your income potential.

8. Stay Consistent and Patient

- Review Regularly: Regularly review your financial progress and adjust your plan as needed.
- Celebrate Wins: Acknowledge and celebrate your financial milestones, no matter how small.
- Stay Patient: Changing your mindset and financial habits takes time. Stay committed to your plan, and don’t get discouraged by setbacks.