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Ought to you at any time just take fiscal advice from social media? 7 ‘spring cleaning’ strategies to retain your funds in very good shape

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Many women have lofty financial goals but aren’t quite sure how to achieve them. A recent GOBankingRates survey found that 6% of women cite a lack of knowledge as their biggest barrier to achieving financial goals and an additional 18% cite a combination of a lack of knowledge and a lack of money as their barrier.

On the knowledge end, it’s always helpful to get actionable advice from women who have been in your shoes, so GOBankingRates asked a few of “Money’s Most Influential Women” to share their No. 1 piece of advice they wish every woman would follow.

Here are the top tips from Barbara Corcoran, Rachel Cruze and more female financial experts.

Read Next: Suze Orman: 5 Social Security Facts Every Soon-To-Be Retiree Must Know

Find Out: 4 Genius Things All Wealthy People Do With Their Money

Mediapunch/Shutterstock / Mediapunch/Shutterstock

Mediapunch/Shutterstock / Mediapunch/Shutterstock

Liz Claman

Liz Claman, host of “The Claman Countdown,” said that every woman needs to be building up her investments, no matter what age she is.

“I don’t care if you’re 8 or 58,” she said. “Take a fixed amount and invest it every month no matter what the market is doing. How much? Look at your monthly income, pick a dollar amount you think you could subtract without affecting your ability to pay your rent [or] mortgage and bills, then add just a little bit more to make it a tiny bit painful. Then set up a monthly deduction that goes straight into a stock fund.”

Check Out: I’m a Self-Made Millionaire: Here’s My Monthly Budget

Try This: How Much Does the Average Middle-Class Person Have in Savings?

Eric McCandless / ABC

Eric McCandless / ABC

Barbara Corcoran

“Shark Tank” star Barbara Corcoran said that women should always invest in themselves.

“Money is meant to be spent — and the best money spent is on investing in yourself,” she said. “I spent my first $340 commission check on a brand new coat from Bergdorf Goodman, and it gave me the confidence to become as big as I dreamed! So spend a little extra money on a new outfit to make you look the part of the person you’re hoping to be. Or invest in a course that can teach you new skills to help set you up for a promotion at work.”

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Rachel Cruze

Rachel Cruze, author of “Know Yourself, Know Your Money,” believes that every woman should be investing.

“Invest early and consistently,” she said.

©Danetha Doe

©Danetha Doe

Danetha Doe

Danetha Doe, the founder of Money & Mimosas, said that every woman needs to put money toward their personal short- and long-term needs before doing anything else with their funds.

“I believe everyone should follow the rule of paying themselves first,” she said. “Whether it’s boosting your savings, contributing to your investments or tending to your wellness, use your money to take care of yourself first.”

Tori Dunlap / Tori Dunlap

Tori Dunlap / Tori Dunlap

Tori Dunlap

Tori Dunlap, the founder of Her First $100K, believes that automation is the key to financial success.

“Automate your financial life — everything from your bills to your savings to your investments,” she said.

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Chelsea Fagan

Chelsea Fagan, co-founder of The Financial Diet, emphasizes the importance of tracking your spending and saving.

“What gets measured gets managed,” she said. “It doesn’t matter how much you earn — if you don’t track and understand your money, you will always be chasing after it.”

Sarah Jane Zenger / Sarah Jane Zenger

Sarah Jane Zenger / Sarah Jane Zenger

Barbara Ginty

Barbara Ginty, host of the “Future Rich” podcast, said that every woman should work to become financially literate.

“Your money will never be as important to anyone else as it is to you — you should make understanding personal finance a priority,” she said.

©David Rodgers

©David Rodgers

Erin Lowry

Erin Lowry, author of the “Broke Millennial” book series, said her top tip is “don’t let other people spend your money.”

“This sounds like straightforward advice, but it’s not,” she said. “Social and familial pressures mean we’re constantly being asked to spend money on or for others. Think about attending weddings, bachelor/bachelorette parties, going home for holidays, birthday dinners, baby showers, retirement parties, and the list can go on-and-on.

“I’m certainly not saying to stop investing emotionally and financially into your friendships and family relationships,” Lowry continued. “However, you do need to set boundaries around how much you can afford to spend on other people’s milestones while honoring your own financial limitations and goals. Communicate about your boundaries early and openly so you aren’t simply saying ‘no’ all the time, and offer up alternatives to still participate within your budget.”

Read More: I’m a Self-Made Millionaire: Here’s My 4-Step Payday Routine

/ SplashNews.com / / SplashNews.com

/ SplashNews.com / / SplashNews.com

Suze Orman

Suze Orman, host of the “Women & Money” podcast, wants women to have a better understanding of the role of money in their lives.

“Money is simply a manifestation of who you are,” she said. “If something is going wrong with your money, that means that something is going wrong with you. Because you and your money are one. Money can teach you more about yourself than anything else. And when you have a feeling like something’s going wrong, it probably is.”

Andrew Parker / Paula Pant

Andrew Parker / Paula Pant

Paula Pant

Paula Pant, host of the “Afford Anything” podcast, advises women to “mind the gap.”

“Pay attention to the gap between what you earn and spend,” she said. “Grow this gap as wide as possible, invest this gap, then repeat.

“There are only three ways to ‘grow the gap’: earn more, spend less or a combination,” Pant continued. “Don’t get caught up in thinking that you need some one-size-fits-all x percent savings rate; instead, focus on the actions that make the most meaningful impact on increasing the size of the gap.”

©Rachel Rodgers

©Rachel Rodgers

Rachel Rodgers

Rachel Rodgers, author of “We Should All Be Millionaires,” said it’s important for female entrepreneurs and freelancers to not undervalue themselves.

“One money rule I believe everyone should follow when it comes to pricing based on your value is to think of the price you want to charge and then — DOUBLE IT,” she said. “Yes, you heard me. Chances are you’ve been grossly undercharging, and this ends today!”

Discover More: I’m a Financial Advisor: Here’s Why My Rich Clients Identify With the Middle Class

Jill Schlesinger / jillonmoney.com

Jill Schlesinger / jillonmoney.com

Jill Schlesinger

Host of the “Jill on Money” podcast, Jill Schlesinger has a “big three” when it comes to her money advice.

“(1) Accumulate six to 12 months of living expenses in an emergency reserve fund,” she said. “(2) Pay down consumer debt. (3) Maximize contributions to a retirement plan. Focusing on these three goals will help you build your financial foundation.”

Caroline Beffa Franks / Caroline Beffa Photography

Caroline Beffa Franks / Caroline Beffa Photography

Bola Sokunbi

Bola Sokunbi, founder and CEO of Clever Girl Finance, said that every woman needs an emergency fund.

“It’s smart to have an emergency fund stashed away that’s enough to cover your essential living expenses — housing, food, transportation, medicine — for about three to six months,” she said. “Think of it as your financial safety net for those unexpected bumps in the road, like surprise expenses or a sudden drop in income. It can really help ease the stress when life throws you a curveball.

“If you don’t have an emergency fund set up, focus on getting your first $1,000 in place and then add a line item to your budget for emergency savings so you can keep saving consistently each time you get paid.”

Jaime Catmull contributed to the reporting for this article.

Methodology: GOBankingRates surveyed 1,001 American women ages 18 and older from across the country between April 18 and April 20, 2024, asking 18 different questions: (1) What is your primary financial goal?; (2) What is the biggest barrier to achieving your financial goal?; (3) If you are actively investing, what is your primary investment vehicle?; (4) If you are not actively investing, what’s preventing you from investing?; (5) How much student loan debt do you currently have?; (6) How much credit card debt do you currently have?; (7) What is your biggest obstacle to paying off your debts (credit card, student loan, medical, etc.)?; (8) What is your biggest source of financial worry/stress?; (9) What is your worst money habit?; (10) How involved are you in household financial decisions compared to your partner?; (11) Which of the following financial professionals have you utilized? (Select all that apply); (12) Do you consider yourself financially secure/stable?; (13) What is your biggest financial regret?; (14) Do you consider yourself bad with money?; (15) How would you describe your relationship with money?; (16) Do you consider yourself to be financially independent?; (17) Which ways do you live frugally? (Select all that apply); and (18) What actions are you taking to build long-term wealth? (Select all that apply). GOBankingRates used PureSpectrum’s survey platform to conduct the poll.

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This article originally appeared on GOBankingRates.com: Barbara Corcoran, Rachel Cruze and 11 More Money Experts Share Their Top Financial Tips for Women