Not every woman is in search of Prince Charming or her knight in shining armor. Some do not want to be legally bound to anyone, and for very sensible and legitimate reasons. Other women prefer to remain independent in every way, and they do not feel the need to date let alone become legally constrained by marriage. Whatever the case may be, it is important for single females from all walks of life to plan their future with complete independence in mind.
Use these sensible ways to plan your future as a single woman, and do not lean on anyone else, even if you are currently cohabiting. Marriages, live-in relationships and dating can abruptly come to an end. Nothing is certain in life. Strong, intelligent and independent women that have experienced loss know that marriage is not the key to happiness and true financial success.
Do Not Lean on Credit Cards
Credit cards can be very useful financial tools – if they are properly used. Everyone has good intentions when they sign on the line, but it is not sensible for a single woman to rack up bills that she cannot afford to pay on her own. People that charge above and beyond their means are not able to buy anything new without using credit cards because they have credit card bills that must be paid. It becomes a vicious financial circle that is almost impossible to escape.
When trying to plan your financial future in a sensible and proactive way, establish credit with a single low-limit card, and do not maintain a high balance. It is in your best interest to fully pay for what you want and need, and without using plastic. It is also best to save up for anything that is not a necessity. Opt for used items while saving for something better, and rethink what you consider necessary.
Save as Much Money as Possible
It is of the utmost importance for a single woman to save as much money as possible, especially if she does not have a pension or a retirement plan in place. It is important to think past tomorrow. Save something each week, even if it is just a few dollars. Take just $20 a week to the bank, and in 10 years you will have $10,400.00 in your account. If you receive a tax refund each year, save it as well and you will accumulate significantly more in a 10 year period.
Buy a Home of Your Own
Many people choose to rent instead of buy, and they have their reasons. Some do not want the responsibility of maintaining a home, while others are unable to buy because of credit issues. Those that rent are left with nothing more than receipts when they decide to move.
As a single women looking for sensible ways to plan for the future, try your best to buy a home of your own. A mobile home of your own is better than a stick-built house that belongs to someone else. Once it is paid for, you will be able to save even more.
Take it from a single woman that was not always single. I have experienced both sides of the financial and relationship spectrum. The pros of home ownership far outweigh the cons. With interest rates at record lows, a monthly mortgage payment is likely less than the cost of renting something that you will never be able to update or call your own, even if you are living with someone that might never be more than a friend. Nothing in life is guaranteed, and the only person that you can fully count on is yourself.
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