Monday, December 18, 2017


5 Money Saving Tips Every Black Woman Needs to Know.

October 14, 2016 by  
Filed under Business, Money, News, Opinion, Weekly Columns

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(ThySistas.com) A Washington Post study found that nearly three-quarters of black women worry about having enough money to pay their bills. Many black women have challenges developing confidence and self-esteem when it comes to creating financial wellness. A study by Prudential Financial found that African American women are very critical of their debt-management skills, and also found, that 78% of those same women say reducing personal debt is very important, and they have a high degree of confidence they’ll meet their goal. So what do black women need to do in order to save money? Here are 5 money saving tips every black woman needs to know.

Check Your Friends

1. You have to check your surroundings of spending. Do you have a friend that is not as responsible with his or her spending? When youblackwomanmoney2016 go out for a girl’s night are you regretting it the next day after looking at your checking account? You have to check your circle of friends and check your spending behaviors.

Invest in Yourself

2. Take advantage of an employer match if you have one offered through your workplace. Often, employers will put in $1 for every $2 an employee puts in, up to a certain percentage, often up to 10 percent of the employee’s salary. Then automate those savings directly from your paycheck. Take advantage of your yearly raises as well.

Splurge but Save

3. It’s ok to buy those cute shoes you see on sale. Or even go get a spa treatment. But save. You cannot splurge on treats on yourself. Hair and Nails are nice to keep up. But saving for the future is more important. It may seem old-fashioned, but take loose change out of your purse or your car tray, and put it in a jar. Look for ways to add more money to your jar to save.

No Loans Allowed

4. Create and stick to a “no personal loan” policy or consider ways to help other than money. But if you do loan money, put things in writing and draw up a payment plan. You can use an online calculator or app to create a loan schedule. Determine ahead of time what will happen if repayment is not made on time. Remember, the worst thing you can do for a broke person is become one of them!

Follow the Budget

5. Create a budget that will actually work over the long term. To create workable budgets create a simple budget sheet to follow. Breaking down your take-home pay as follows: 65 percent toward things you need, including groceries, rent or mortgage, utilities and transportation; 20 percent toward savings and debt reduction and 15 percent toward things you want (such as vacations and going out with friends). So this way you can still live and enjoy your life.

Staff Writer; Amber Ogden

One may also view more of her work over at; AmberOgden.com.

Also connect via Instagram; 1amberogden and Twitter; MsAmberOgden.


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  1. […] of those tricky subjects which a lot of us never quite master. However, the overall effects of not getting to grips with your finances can actually be quite disastrous. As such, it is a good idea to at least try and develop some […]



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