Let me tell you a secret: I used to think “financial planning” was something only suited people in gray pantsuits did while yelling into Bluetooth headsets. Then I quit my 9-to-5 to start a vegan candle business and realized oh honey, no – my savings account was crying louder than my ex at a rom-com marathon.
Here’s the tea: 78% of women entrepreneurs admit they’ve put their business finances ahead of personal security (I commissioned this totally legit “survey” from my panicked girl group chat). We’ll spend $200 on Instagram ads without blinking but treat our retirement plans like that gym membership we keep “forgetting” to cancel.
The wake-up call that cost me $4.75 (plus tax):
Last month, my blender died mid-green-smoothie prep. Not a crisis… until I realized my “emergency fund” was just loose change and a Sephora gift card. Meanwhile, my business account had enough to buy a industrial-grade Vitamix and a backup blender “for aesthetics.” 🤦♀️ That’s when I finally understood: Investing in yourself isn’t just about hustle culture – it’s about building a safety net with glittery, unbreakable thread.
Let’s break this down like my last relationship:
1️⃣ The “Pay Yourself First” Paradox
My mentor (a 60-year-old jewelry designer who drinks whiskey neat and calls everyone “darling”) taught me this: Every client payment, set aside 15% before you even see it. Not for business inventory. Not for tax. For you. At first I protested – “But my Etsy shop needs new packaging!” – until she hit me with: “Sweetheart, your future self isn’t gonna trade Social Security for vintage mason jars.”
2️⃣ The Retirement Rave Nobody Invited Us To
Did you know women need to save 20% more than men for retirement? (Thanks, wage gap + longer lifespans + that time I took 18 months off to care for mom). I started with $50/month in a Roth IRA – roughly the cost of 3 avocado toasts. Now it’s automated, hidden in an app I purposely named “DO NOT TOUCH (Seriously Jess)”
3️⃣ Emergency Funds: Sexier Than You Think
Mine’s nicknamed “The Beyoncé Fund” because it runs the world. Rule: 6 months of personal and business expenses. Took 2 years to build, but when COVID hit? That fund let me pivot to DIY candle kits while others maxed out credit cards. Pro tip: Store it where you can’t impulse-withdraw for “just one little course on TikTok algorithms.”
4️⃣ Investing in YOU Isn’t Selfish – It’s Strategy
Last quarter, I spent $3K on a copywriting course instead of upgrading my studio. Cue guilt… until my sales copy boosted conversions by 40%. Now I budget “education” as a non-negotiable line item. Your brain is your best business asset – feed it like you’re preparing for the mental Hunger Games.
The real talk section:
– 63% of female business owners have no written financial plan (Girl, same)
– Women-led startups receive 2.3% of VC funding but deliver higher returns (We’re literally leaving money on the table by not betting on ourselves)
– My new mantra: “If it’s not a ‘hell yes’ expense, it’s a ‘transfer to savings’
This isn’t about becoming a spreadsheet wizard (though I did buy a cute calculator shaped like a lipstick). It’s about building financial confidence so when someone says “women aren’t risk-takers,” you can laugh while your diversified portfolio does a cha-cha slide.
Final thought: Yesterday I bought that $5 latte… using dividends. ☕✨