For many of us, financial planning isn’t something we were taught—it’s something we were left to figure out, often with a side of shame, self-doubt, or confusion. If you’ve ever felt overwhelmed by budgeting apps, financial jargon, or pressure to “do it all” without clear guidance, you’re not alone.
At SheThrives, we believe in rewriting the money narrative for women. Not just through spreadsheets or investment talk, but by approaching financial planning with clarity, compassion, and confidence. This isn’t about perfection—it’s about empowerment.
Why Financial Independence Matters
Economic empowerment is a key pillar of gender equality. When women have financial agency, we have more choices—about our careers, our families, and our futures. But too often, we’re discouraged from talking about money or made to feel like managing it is a solo, shame-filled exercise.
Research shows that women are still playing catch-up when it comes to wealth building.
On average, Australian women retire with 23.1% less superannuation than men (ASFA, 2023).
The gender pay gap sits at 12% (Workplace Gender Equality Agency, 2024). And many women take career breaks for caring responsibilities, impacting their long-term earning potential.
Financial planning isn’t just about numbers—it’s about choices, freedom, and peace of mind.
Step 1: Know Your Starting Point
Before setting goals or adjusting your spending, it’s essential to understand where you are right now. Review your recent bank statements and spending habits. Where is your money going? Are there patterns or surprises?
Create three simple categories:
- Needs: Essentials like rent/mortgage, groceries, bills
- Wants: Dining out, subscriptions, personal care
- Goals: Savings, debt repayment, investments
This isn’t about judgement—it’s about awareness. Once you know your baseline, you can make changes that reflect your values.
Step 2: Set Clear, Realistic Goals
Financial goals don’t have to be huge or complicated. In fact, they’re more effective when they’re personal and attainable.
Think in timeframes:
- Short-term: Pay off a credit card, save $1,000 for emergencies
- Mid-term: Travel, study, build a 3-month buffer
- Long-term: Home ownership, retirement, financial independence
Attach a “why” to each goal. Saving $5,000 sounds nice, but saving it so you can start your own business or leave a toxic workplace? That’s powerful motivation.
Step 3: Create a Budget That Reflects Your Life
A good budget is a living document—not a punishment. Try the 50/30/20 rule as a starting point:
- 50% for needs
- 30% for wants
- 20% for savings or debt
This rule is flexible—if your rent is higher, your “wants” might need to shrink temporarily.
Use tools like MoneySmart’s Budget Planner to get started.
Importantly, build in joy. Budgeting shouldn’t eliminate every pleasure—it should help you choose the ones that matter most.
Step 4: Build an Emergency Fund
Think of this as your financial safety net. Aim for $1,000 to start, then work towards 3–6 months’ worth of essential expenses. It’s not glamorous, but it’s empowering.
Even $20 a week into a high-interest savings account adds up. Having this buffer can stop financial emergencies from becoming full-blown crises.
Step 5: Reduce Debt Strategically
Debt can feel overwhelming, but it doesn’t have to define you. Use the snowball method (pay smallest debt first) for psychological wins or the avalanche method (pay highest interest first) for mathematical efficiency.
Call your providers—ask about hardship options or payment plans. You have more power than you think.
Step 6: Know What You’re Worth
One of the most under-utilised tools in financial planning? Asking for more. Whether it’s negotiating your salary, freelancing rates, or pushing for a pay rise, backing yourself financially is an act of self-respect.
Not sure where to start? Femeconomy and Ladies Finance Club have great resources.
Step 7: Learn and Grow
You don’t need to become a finance expert overnight. Start small—subscribe to a podcast, join a community, or follow women-led money pages on socials. A few to try:
Keep learning.
Your money confidence will grow with each step.
You Deserve Financial Peace
Financial planning isn’t a one-size-fits-all path—it’s about designing a life that feels aligned, supported, and sustainable. You don’t need to be perfect. You just need to start.
At SheThrives, we’re not here to shame or overwhelm. We’re here to uplift and walk alongside you—one step, one budget tweak, one boundary at a time.
Your money story is yours to write. And we believe it can be a powerful, positive one.