Finanical foundations are the basis for anyone who need to keep control of their finances. Many women feel overwhelmed when it comes to money. It can feel confusing, stressful, and something we should already know how to manage, yet somehow don’t.
Why can money feel so complicated?
For many women, money feels unnecessarily complex and let me reassure you it’s not because you’re bad with money.
Common reasons include:
- A lack of financial education growing up
- Societal conditioning around money (e.g. “money is stressful” or “it’s not for me”)
- Not enough time to focus on finances due to busy lives
- Information overload and conflicting advice in the media
- A partner historically handling the finances
The good news? Money doesn’t need to be complicated. It just needs to be understood in simple terms.
Real-Life budgeting (Not the perfect kind)
Let’s bust a big myth: perfect budgets aren’t realistic. Life happens.
A real-life budget is about understanding what’s coming in versus what’s going out and being honest about your spending.
Here’s how to start:
- Track your income and essential expenses
- Identify “needs” versus “wants”
- Review your spending over the last three months
- Focus on categories of spending, not perfection
You don’t need fancy tools. A simple app, spreadsheet, or pen and paper will do.
Read this blog on budgeting mistakes.
Practice the 50/30/20 rule – read about this here.
Practical tips:
- Set a realistic goal (for example, saving 5% of your income)
- Start small and adjust as needed
Progress matters more than perfection.
Building Savings – even when you are on a tight budget!
Saving isn’t about having lots of spare money. It’s about building habits.
Why saving matters:
- Creating an emergency fund
- Supporting future goals
- Building financial security
How to start:
- Automate savings with a standing order
- Start with as little as £10 a week
Simple strategies:
- The 50/30/20 rule (50% needs, 30% wants, 20% savings)
- Reduce unnecessary subscriptions
- Meal planning to cut food costs
- Use bonuses or windfalls to boost savings
Small, consistent actions really do add up and improve your financial foundations of your financial future.
Clearing the confusion around pensions
Pensions don’t have to be complicated. They are a very important part of the financial foundations in life.
A pension is simply money saved for your retirement. The earlier you start, the more it can grow through compound interest.
Types of pensions:
- State Pension – what you receive from the government
- Workplace Pension – often with employer contributions
- Personal Pension – savings you manage yourself
Simple actions you can take today:
- Find out how much you’ve saved so far
- Check whether your employer is contributing
- Contribute at least what your employer matches
If you’re self-employed or not in a scheme, starting a personal pension could make a huge difference.
Check for lost pensions here
You can’t do everything at once
One of the biggest causes of financial overwhelm is trying to fix everything at once.
Instead:
- Prioritise what matters most right now
- Split goals into short-term and long-term
- Focus on one goal at a time
Using SMART goals helps:
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound
You don’t need to be perfect. You just need to be consistent.
Small Changes = Big Impact leading to improve financial foundations
Small changes can create powerful long-term results.
Examples:
- Cutting impulse purchases
- Saving loose change
- Meal prepping
- Car sharing
- Cutting back on daily coffees
Let’s look at one example.
A £4 daily coffee, five days a week, costs £20 a week – that’s £960 a year.
Add in buying lunch at work instead of taking a packed lunch, and you could easily save £2,000 a year.
Over 10 years? That’s £20,000 – before interest.
It’s not about deprivation. It’s about conscious choices.
Your financial foundations action list
If you do nothing else, start here:
- Start small with budgeting
- Set up automatic savings
- Check your pension contributions
- Reduce unnecessary spending
- Focus on one financial goal at a time
Ask yourself: What’s one thing I’ve learned today that feels doable?
Then start there.
Don’t let money control or overhwhelm you
- Small, consistent actions make a big difference
- Focus on progress, not perfection
- You don’t have to do this alone
You’ve got this! Don’t let money overwhelm you. Take control one step at a time.
Want more support?
Our financial foundations is just one of our workshops. You can explore more practical money guidance and workshops through She Can Prosper, including sessions on:
- Dealing with debt
- Protecting your income
- Empowering your money mindset
And if you’re ready to go deeper, my book She Can Prosper is designed to help women build confidence, clarity and control around money.
Because financial empowerment isn’t about being perfect – it’s about starting.
Recent Comments