Women share money lessons they didn’t learn until after their 40th birthday
Life seems like a giant cycle of thinking you know better, then realizing years later that you definitely didn’t. We are constantly learning and evolving, whether in love, friendship, career or money.
Quarantine is a time when the mistakes of our past become painfully clear. Time seems limited and we want to avoid wasting it by making bad decisions, especially when it comes to money.
One way to do this is to learn from the wisdom and hard-earned experiences of other women. And we can reciprocate by sharing our experiences so other women can avoid our mistakes.
Reddit’s Ask A Woman Over 40 community recently shared tips they picked up along the way. Specifically, they discussed financial wisdom that wasn’t learned until after their 40th birthday.
1. Visualize your goals (like, really)
Entering midlife can feel uncomfortably murky, and it’s hard to move forward without feeling like you have a firm grip on the future. So, a woman suggests creating a physical vision board.
“Add your goals (health, wellness, travel, education, career, love, lifestyle, etc.) at the top. [Then, add] every step to reach them from top to bottom. Keep the visual closer to you and follow each step. Also, don’t forget to “take time for yourself.” Take care of yourself by doing things that bring you joy.
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2. Put a cap on your generosity
Generosity is an admirable virtue. But it can also be dangerous if you don’t know when to slow down your spending. As tempting as it may be to shower your loved ones with gifts—above all If gift giving is your love language, make sure you do it mindfully.
“As a 43-year-old man who is in dire financial straits because I gave away more money than I could really afford in the last few years, ‘love within your means’ touches me. “, wrote a woman. .
“I strive to train. I continue to give or spend a lot of money on others. Birthdays, invitations, donations, etc., but not as much as before. People who love you will understand that a a free date for an outdoor game is as good as a bar or an ‘epic’ party,” added another.
3. Use this change to your advantage
Entering midlife is a transition, but it’s not an inherently negative change. One commenter suggested asking yourself some of the questions below to ensure that the second half of your life will be productive and joyful.
“Do you want to move to a new place? Do you want to start your career over again? What if you get a work visa and move to another country? What kind of things would you like to accomplish?” one woman suggested.
“I think focusing on what YOU want and doing things to care for and love yourself will benefit you in such a difficult chapter of your life and help you get through it. Even if life changes, it does not mean that it is negative. This is the part where you can really have fun and do things that feel exciting to you.
“You’re old enough to have learned from some mistakes,” the writer continues, “but young enough to know what you want in life and have the time to achieve it.”
4. Even if you can’t travel, find adventure
Plus, as one Redditor pointed out, you don’t have to fly across an ocean to get the most out of life. “At the risk of sounding like an ‘eat, pray, love’ cliche, traveling is pretty awesome,” the woman wrote.
“But if you can’t afford to do a lot of things, just try to do something different sometimes. I spent way too much time going to the same restaurants and clubs and generally doing the same things.
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5. Ask for help
Finally, one woman added that the best thing she did in her mid-thirties was to consult a financial planner who specialized in helping women.
“It was like the most practical, revealing and motivating advice I have ever received. It wasn’t just about money, it was about figuring out your goals, your values, and putting a really practical plan in place to help me achieve those goals.
“The person I was working with didn’t charge me much,” she continues. “She found herself in both a professional and personal crisis after getting divorced in her late 40s, early 50s, and working with a planner, and ultimately ended up changing careers completely to become herself a planner to help young and older women.”
The transition to midlife and beyond can be daunting, especially when it comes to finances. But with the lessons you’ve already learned along the way — and the support of women who have done the same — it can also be an exhilarating, joyful, and rewarding time in life.