When I talk with people about their struggles, finances come up more often than anything else. Money stress fuels anxiety, and financial security can be the difference between constant worry and genuine peace of mind. Knowing the bills are paid and still having enough left to enjoy the pleasures of life creates a sense of stability, confidence, and freedom. Learning how to become financially independent is key for your success.
For women, the weight of financial insecurity can feel especially heavy. Many live in fear because their income depends on a partner. Society still places barriers: lower wages, competing with men for higher-paying positions, the demands of motherhood, and the invisible load of home responsibilities. It’s no wonder financial freedom often feels out of reach.
Growing up, my mom always told me, “Never put yourself in a position to be financially dependent on a man.” It’s the same message I now pass down to the young women in my family. Because when a woman takes charge of her finances, she’s not just managing money—she’s taking charge of her future. Let’s learn how to obtain financial freedom.
10 Key Steps to Build Financial Security & Freedom
1. Invest in yourself
The best thing you can ever do for your future is to invest in yourself. Find something you enjoy and build a career around it. The best jobs are the ones that don’t feel like work because they flow from your passions.
That doesn’t have to mean college. For some it’s a trade, for others a certification, and for others it’s a profession. What matters is choosing a path that creates both stability and fulfillment.
For me, that path was nursing. I knew from a young age that I wanted to care for people. At first, my goal was to simply become a registered nurse. But later, as I set bigger financial goals and discovered a passion for mental health, I advanced my education to become a Psychiatric Nurse Practitioner.
Your story may look different, but the principle is the same: invest in yourself and your skills. Read more about Stress-Busting Self-Care Rituals blog. Don’t let the trials of life hold you back. I earned my first degree as a teenage mom with a child—and instead of stopping me, it motivated me to push harder.
Whatever your passion may be, take the step. Because when you invest in yourself, you create the foundation for financial freedom.
2. Build an Emergency Fund
Early in my marriage, we were constantly running out of money just to pay the bills. There were days we dug through the couch cushions for loose change to buy gas. Times were tough, and when we attended a financial class that recommended setting up an “emergency fund,” I rolled my eyes. How could I save for emergencies when I barely had enough for day-to-day expenses?
But the truth is, that advice became a lifeline. We made a budget, cut unnecessary spending, and even picked up extra work. Slowly, we were able to put a little aside—and eventually, that fund saved us. The next time the car broke down or an appliance quit, it didn’t feel like the world was crashing down. We could dip into the emergency savings instead of spiraling into panic.
The long-term goal is to have 3–6 months of living expenses saved, but if that feels overwhelming, start small. Many financial planners recommend beginning with just $1,000 as a starter fund. Even that small cushion can bring peace of mind while you keep building toward bigger financial goals.
3. Pay Off Debt (Snowball Method)
Paying off debt can feel daunting, but here’s the reality: every month you carry a balance, you’re working to pay other people. Credit card companies benefit when balances roll over, and with interest rates often above 25% APR, the price you’re paying is much higher than you think.
Imagine this: you score an amazing deal on something you’ve been wanting 50% off! You put it on your credit card, but you can’t pay the balance in full. Instead, you chip away with minimum payments. With interest, that “half-price” deal ends up costing you close to full price or more. The win is gone, and the credit card company is the one celebrating.
The good news? Debt doesn’t have to own you. Using the Snowball Method can help you build momentum:
- Keep paying minimum payments on all debts.
- Focus extra mone on the smallest balance first.
- Once it’s paid off, oll that payment into the next debt.
With each win, your confidence grows. Before you know it, you’ll be free from the weight of debt and that’s worth celebrating!
4. Find Extra Income (if needed)
When my family was working toward financial stability, we sometimes had to pick up a second job. Was it easy? No. Was it fun? Not always. But when you have a clear goal in mind, you’ll be surprised at what you can do.
The important thing to remember is that taking on extra work doesn’t have to be forever. Think of it as a temporary boost a stepping stone to get you closer to your bigger goals. Whether it’s driving for a ride-share, freelancing, offering services, or selling handmade goods online, there are countless ways to bring in extra cash.
Side hustles and creative income streams can accelerate your path to financial freedom. Even if it’s just for a short season, that extra effort can make the difference between staying stuck and moving forward. With the right mindset and motivation, nothing is out of reach.
5. Invest Early & Consistently
When I was in my 20s, I had a boss who told me to start putting money into the retirement account my job offered. At the time, I had no idea what he was talking about or how it even worked. Honestly, I remember thinking, “I can barely afford diapers, let alone save for retirement.”
That conversation has stayed with me because I regret not following his advice. If you start investing in your 20s, your chances of becoming a millionaire by retirement are so much higher. The reason? Compound interest.
Back then, I didn’t understand it. Today, I do. Compound interest is what happens when your money not only earns returns but those returns also start earning returns. It’s money growing on top of money, year after year. It may look small at first, but over time it snowballs into something life-changing.
For example: if you invested just $200 a month starting at age 25, by the time you’re 65 you could have over $500,000–$600,000 (assuming a modest return). Wait until 35 to start? You’d end up with less than half that amount, even though you invested for only 10 fewer years.
That’s the magic of starting early: time becomes your greatest asset. And here’s the good news—you don’t have to be an expert or have a lot to begin with. Even small, consistent contributions add up. Here is a link for beginners. https://www.theinvestorspodcast.com/millennial-investing/
Over the years, I’ve made it my mission to educate myself on finances. I’ve read books, listened to podcasts, and watched countless videos. And one truth stands out: every financially successful person has their money working for them through compound growth.
So here’s my advice: don’t wait until it feels “comfortable” to start investing. It never really feels comfortable. Just start small, start now, and let time and compound interest do the heavy lifting.
6. Budget with Purpose
Budgeting. It’s the word most people wish didn’t exist. But here’s the truth: budgeting doesn’t have to feel restrictive or negative. In fact, it’s one of the most empowering things you can do for yourself.
A budget simply means giving every dollar a name. You are the boss, so you decide where your money goes. Without a plan, it’s easy to look at your account after payday and wonder, “Where did all my money go?” Instead of letting your money disappear, budgeting allows you to tell it exactly where to go before it’s gone.
The best part? You can make budgeting fit your style. There are endless tools and resources available. Personally, I like the Mint app for tracking, but I also enjoy using a budgeting notebook because writing it down by hand gives me more control and awareness.
It doesn’t matter what method you choose—it only matters that you start. Budgeting isn’t about restriction. It’s about alignment: making sure your spending matches your goals and your values, instead of just your habits.
7. Protect Yourself with Insurance
Insurance is one of those things we often think about only after we need it. Most of us only carry the policies required by law, like car insurance, while ignoring the rest. But the truth is, health emergencies and life events can happen at any time. Without protection, they can wipe out everything you’ve worked so hard for.
Health insurance is one safeguard you can’t afford to overlook. In America, healthcare is expensive—and one unexpected hospital stay could turn into a financial crisis.
Life insurance is another area that too many families ignore. I’ve seen heartbreaking GoFundMe pages for people who should have had life insurance but didn’t. My first life insurance policy cost only $15 a month, proof that it doesn’t have to break your budget. Here is the insurance link I recommend. New York Life Insurance.
Think of insurance as a safety net. It’s not just about meeting requirements; it’s about protecting your family and your peace of mind. Take time to explore what options fit your budget, you may be surprised at how affordable it really is.
8. Automate Savings & Payments
Once you’ve tackled your budget, the next step is to take advantage of automation. Nothing feels worse than paying a late fee for a bill you simply forgot. Automating payments creates stability and peace of mind because you know exactly what will come out of your account and when.
Start with fixed bills, the ones you know are the same each month. This ensures consistency and protects you from unnecessary fees.
Another powerful area to automate is savings. When I first started saving, I struggled because I only saved what was “left over.” That never worked. Instead, I set up an automatic transfer so that a percentage of my paycheck went straight to savings the same day I got paid. Soon, I didn’t even notice it was gone. I simply learned to expect my take-home pay as whatever landed in my account, not what was printed on my paystub.
Think of it as “out of sight, out of mind.” Whether it’s 5%, 10%, or whatever amount fits your budget, consistency matters more than size. Over time, these automatic habits build a strong financial foundation without requiring constant willpower.
Make smart money habits effortless by setting them on autopilot.
9. Keep Learning
When I finally got serious about managing my finances, I became a student again. The truth is, you don’t need a finance degree to be financially responsible. What you do need is a willingness to learn.
Financial literacy is something most of us never learned in school, and for many, like me, our parents weren’t the best stewards of money. That means we have to teach ourselves. And while it may sound intimidating, knowledge really is the key to freedom. When you understand how to manage money, you give yourself the power to make choices that build security instead of stress. I write about the impact finances can have on mental health in another blog.
Some books that impacted me the most include:
Miss Independent by Nicole Lapin
Rich Dad Poor Dad by Robert Kiyosaki
The Psychology of Money by Morgan Housel
The Coffee Bean by Jon Gordon & Damon West
In addition to books, I learned from podcasts and financial experts who shared practical strategies and real-life wisdom. There are so many free or low-cost resources available today—you just have to take advantage of them.
The lesson? Stay curious. Read, listen, and keep learning. The more you know, the better decisions you’ll make—and the stronger your financial future will be.
10. Give Generously
Sometimes we pass a homeless person and wish we had more to give. We hear the stories of elderly people on fixed incomes who can’t afford housing or groceries, or single mothers working tirelessly but still struggling to provide for their children. It’s easy to think, “One day when I have more money, I’ll help.”
But the truth is, it doesn’t take a lot to make a difference. Paying for someone’s morning coffee, buying a hot meal, or volunteering your time in a program that matters to you—these acts can mean more than you’ll ever realize.
I’ll never forget a woman who came to see us, weighed down by depression. We tried everything—medications, therapy, countless interventions—but nothing seemed to help. One day, we encouraged her to volunteer at her local cancer thrift store. When she returned, she was smiling. She had found purpose in helping others, joy in the people she worked alongside, and a new reason to get up each day.
That’s the power of giving. Blessing others doesn’t just help them—it transforms you. It shifts your relationship with money and reminds you that it’s not the goal. Money is simply a tool, and the greatest return on it comes from using it to spread hope and kindness.
Final Thought. Stay Consistent & Keep Growing
As your life changes, so will your goals, and your budget should grow with you. Set aside time for regular “money check-ins.” In the beginning, this may be weekly, then shift to monthly as you gain confidence.
For investments, you don’t need to check them constantly. In fact, the less you watch, the better. Give them time to grow and resist the temptation to dip into these accounts.
Once you have your main goals in place, consider setting up separate savings accounts for the extras that bring joy to life, Christmas, vacations, and home projects. With planning, these things stop feeling like “wish lists” and start becoming realistic goals within your reach.
Most importantly, celebrate your progress. You’ve taken charge of your finances and your future. And don’t keep it to yourself, teach the next generation what you’ve learned. Share the wisdom so they can avoid the mistakes you made and start from a place of strength.
Congratulations! You did it. This is what financial freedom feels like.
