This post was contributed by Laurel Road, the endorsed student loan refinancing provider of the International Association of Women.
More women are becoming entrepreneurs than ever before, and as they move into leadership roles, they’re also taking on more financial responsibility.
Generally speaking, women want their money to work for them – and for successful women, that’s even truer. Here are four ways successful women manage their money:
1. They put more towards retirement According to a report by Vanguard, women put more money towards retirement. In fact, they are 11% more likely to enroll in their workplace retirement savings plan.
2. They invest wisely Another thing successful women have in common is they make their money work for them by investing more than they save. Statistically, more women tend to play it safe in the stock market but still see real gains.
3. They pay down debt For successful women, paying off debt is at the top of their to-do list. And according to ValuePenguin, women have 22% less credit card debt than men do.
4. They think before they act Successful women are not impulse buyers. Instead, they wait and think about the best purchasing options before swiping their credit card.
When it comes to finances, successful women tend to think long term, avoid impulse purchases, and keep an end-goal in mind. Whether you’re a successful woman or you aim to be one, keep these tips handy as you continue your financial journey.
Learn more about paying down your debt during an upcoming webinar with Laurel Road, Student Loan Best Practices for Women, taking place on March 7. Register in advance below: