Financially successful women of reddit, how and what makes you successful?

7 comments

1. Always advocate for yourself.

   Re: money — start saving for your retirement now. Don’t blow money on stupid things/trends. Build a budget and stick to it. Don’t max out your credit cards; this is one the worst and hardest debts to get out of. Depending on where you are, buy instead of renting a place to live.

   Continue to search for opportunities that pay higher.

2. >what careers or smart financial choices did you made to get where you are now?

   I went to college for computer science and engineering, I knew that computers would ALWAYS be a thing, and become an even bigger part of every day life as time went on

   What makes me successful is my ability to work hard and focus on every task that’s put in front of me, I get all my assignments done quickly and flawlessly, I’m a team player but also have no problem throwing someone under the bus if needed

   It’s a dog eat dog world out there, the SECOND you stick your neck out for someone in the work field is the second you put yourself at risk

   The biggest advice I can give you is this

   DON’T fall into subscription models

   DON’T count on anyone but yourself

   DON’T EVER EVER EVVEEERRRR LEND BIG AMOUNTS OF MONEY TO PEOPLE

   DON’T Ever get attached to co-workers, you’re there to WORK, not make friends, focusing purely on work will almost always guarantee a successful career

3. I fiercely followed my heart in career choice. Full disclosure, I was able to do this because I know that if I failed and had to re-orientate, my parents would be there for me to support me. It’s not like I was on my own and doomed if it would go south.
   Then after ten years of struggling, but always persevering and never giving up, investing my savings into my career, I got very lucky and received the chance to show myself to a bigger platform. This happened right at the moment I financially hit rock bottom because of COVID and the consequences of governmental decisions in my area of work.
   But ever since that moment, I have been thriving financially.
   Smart financial choices: stock market as an investment in the long run (no trading, crypto etc but solid and mature companies that you know) and becoming an independent, so not working for a boss. Mind you, I worked hard, but I also believe one has to be lucky at a certain point also. Just hard work or chasing your dreams won’t get you there. You need people around you to believe in you and give you chances.

4. Don’t drive your money, don’t live in your money, don’t wear you money.

5. For me it started at home. My parents made me and my siblings authorized users on their credit cards growing up. I have a couple credit cards that I use for most of my purchases and I end up getting cash back, flight points, or other rewards from those. I have different streams of income and I’ve been big into investing and stocks since I was like 13 so I have different savings and investment accounts as well. I also budget really well. I’m 22 and aiming to retire between 50-55.

6. I had a crappy home life growing up. My choices were school or drugs. No one would swap lunch tickets for heroin, so school it was.

   I do my best with a framework and a plan, and that’s what I did through high school. I got myself up every morning, packed my own lunch and was out the door at dawn. I got into an amazing college and used my work ethic to prevail and also took that work ethic…to work.

   First car in the parking lot and the last to leave…mine.

   Also when I was young I understood the math behind investing. I opened up an account and got started with index funds before I was allowed to buy alcohol.

   LUCK was a big part because my boss told me the sky was the limit if I did well. My other jobs had no such venue of advancement other than grinding out a small raise every year.

   My job was HR clerk, but the boss made time to introduce himself first day and told me hard work is rewarded. And he sure meant it. I got promoted quickly and eventually ran HR at his new company. Luck luck and luck!

   Another big thing…understanding how money works. I’m not a big spender even today. I saved all my bonuses for a rainy day…which came when I moved to Idaho. I bought a small number of houses and lived off the rent which also paid off my main house.

   I sold those off and the venture gave me a boost after tax of a little over a million dollars.

   I still don’t spend a lot unless you count vacuum cleaners and pantyhose. I bought a 2021 Toyota Highlander used and saved $12k vs new. 12,000 clams is a LOT of clams!

   I paid cash for this house but it isn’t high end McMansion type. 3200 sq feet which is plenty big….anything bigger is meh.

   So…that’s it. Awesome work ethic and understanding of money, and luck! I quit working when I was 37….I must be doing something right.

7. As a late 20s woman, don’t make the mistake I made which was choosing a career that I had interest in, but pays extremely poorly and is very difficult to move up in.