Everyone keeps talking about wealth building but why is it so important? If you’re at all confused about what wealth building is you should check out our post explaining it. Wealth building should be important for everyone but our focus is on its importance to women.
In this post we’re looking at why wealth building is particularly important for women by looking at a few milestones that are relevant to the lives of most women. As mentioned in another post, wealth building is a way of life that you need to make part of your everyday routine if you want to make it work for you.
That Crucial First Job
Throughout life are lots of opportunities to make wealth building count. One of the first opportunities will come to you with your first job. From the moment you begin earning you should put some aside for savings. Save into a high interest account to make the most of your money. Yes, it will be difficult, particularly since your first job probably won’t see you earning a huge amount. However, the process of saving, no matter how much you manage to put by, will mean you will be developing a good habit that will serve you well in the future.
Think you might be getting married at some point? Maybe you know you’re getting married and have a special someone in your life. It is no secret that weddings are not cheap. They require a lot of planning and the thing about weddings is that the more you plan the more costly they tend to become. If you’re planning with a wealth builder’s attitude you know that you will have to commit a percentage of your earnings towards your upcoming nuptials.
Giving birth to your own child may be an important milestone for you. You may already know that you want to become pregnant, or it may be something that later becomes more important. Settling into the habit of saving money from the moment you land your first job will be a big help when it comes to taking time off from work for maternity leave. There is no doubt that being pregnant and giving birth is one of the most life-altering experiences that you will go through as a woman. If you’re planning on taking time off during your working life for significant maternity leave you need to make sure you plan for it now.
Buying A House
We all know that, alongside raising a child, buying a house is one of the biggest financial commitments you will ever make. It can be especially daunting if you need to take on a significant mortgage. It can feel like you will be paying for your property for the rest of your life. Independence is essential in all areas of life. Paying for your own home rather than paying rent shouldn’t just be the smart move for you. It should be the only move.
These are just some of the events in a typical woman’s life that you will want to prepare for. Wealth building can be the key to getting all this right so don’t take it lightly. Begin planning your wealth building strategy now.
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