FINANCIAL GLOW UP FOR THE GIRLS

The idea of a financial glow-up is to improve your financial situation in an empowering, sustainable manner. Here is our official glow up sheet. 

I'm not a financial advisors just an average woman  and I used Chat GPT for information for this content. This is designed to take what you need or custom it to your situations. 


1. Audit Your Finances

• Track Expenses: Review where your money is going by using apps like Mint or manually tracking it for a month.

• List Debts & Income: Note all debts (credit cards, loans) and all sources of income. Understanding your current situation is crucial.


2. Set Financial Goals

• Short-Term: These might include saving for an emergency fund or paying off a small debt.

• Long-Term: These could include home ownership, a retirement fund, or investment goals.

• Use SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals.


3. Create a Budget

• Use the 50/30/20 Rule:
• 50% for necessities (rent, groceries).
• 30% for wants (entertainment, shopping).
• 20% for savings and debt repayment.
• Automate bills and savings for consistency.

4. Start Saving Strategically

• Emergency Fund: Aim for 3-6 months of living expenses in a high-yield savings account.

• Savings Buckets: Set up multiple savings accounts for specific goals (vacations, new car, etc.).

5. Pay Down Debt

• Use either the Snowball Method (smallest debt first) or the Avalanche Method (highest interest rate first).

• Avoid accumulating new debt while focusing on paying off existing ones.

6. Invest for Long-Term Wealth

• Start with low-risk options like index funds or retirement accounts (401k or IRA)

• Look into Robo-advisors if you’re new to investing (Betterment, Wealthfront).

• Diversify your investments to spread risk and maximize returns.

7. Increase Income

• Negotiate Salary: Research industry standards and confidently negotiate during reviews or job offers.

• Side Hustles: Freelance work, online businesses, or leveraging your talents (e.g., writing, consulting).

• Invest in Yourself: Upskilling or gaining certifications that can increase your earning potential.

8. Live Below Your Means

• Adopt a minimalist mindset and focus on purchasing quality over quantity.
• Be mindful of lifestyle inflation, where increased income leads to increased spending.

9. Build Credit

• Maintain a good credit score by paying bills on time, keeping credit utilization low, and monitoring your score regularly.

• Aim to keep credit card balances low and pay them off in full each month.

10. Educate Yourself

• Read books like “The Wealthy Gardener” or “Broke Millennial Takes On Investing”.

• Follow finance blogs or podcasts to stay informed about trends and strategies.

Sample Financial Glow-Up Plan:

• Month 1-2: Track spending, create a budget, and start an emergency fund.

• Month 3-4: Focus on debt repayment, cut unnecessary expenses, and automate savings.

• Month 5-6: Start investing in retirement accounts or index funds.

• Month 7-12: Explore side hustles, negotiate salary, and continue growing your savings and investments.

This steady and thoughtful approach ensures your financial glow-up is long-lasting and empowering.