3 Common Money Mistakes Women Make—And How to Overcome Them
- Apr 14
- 3 min read
By Tolulope S. Olaniyan
Money isn’t just about numbers—it’s about freedom, choices, and impact. As a qualified financial adviser, transformation coach, and finance professional with a background in economics, I’ve worked with countless women who feel stuck in their financial journey. I see the same patterns over and over—brilliant, hardworking women struggling with money, not because they lack ambition, but because no one taught them how to take control of their finances and build lasting wealth.
As a Black Irish woman, I understand the unique challenges we face—balancing responsibilities, breaking generational cycles, and navigating financial systems that weren’t always designed for us. That’s why I’m passionate about helping women shift from financial survival to financial success. I don’t just talk about money—I teach, coach, and empower women to thrive beyond borders—because financial freedom is for all of us.
If you’ve ever felt like money slips through your fingers no matter how hard you work, or you avoid financial conversations out of fear, you’re not alone. But today, we’re breaking that cycle. Let’s talk about three common money mistakes women make and how to fix them—because you deserve financial peace and power.
1. Avoiding Money Conversations
Women are amazing at handling responsibilities, but when it comes to discussing money—whether negotiating a salary, setting boundaries, or planning for the future—many of us hesitate. Why? Because we were conditioned to believe money talk is uncomfortable or “not for us.”
The Cost of This Mistake: Avoiding financial conversations means missing out on opportunities—higher pay, better deals, and smarter financial decisions.
What you can do
Normalize money talks. Discuss finances openly with your partner, friends, or a mentor. We break cycles by breaking the silence.
Negotiate with confidence. Whether it’s for a raise, business deal, or even household expenses, your financial well-being matters.
Educate yourself. Take a financial course, join a money mastermind, or work with a coach (like me!) to boost your money confidence.
2. Not Having a Financial Plan
Many women focus on daily expenses but don’t think long-term. The result? Living paycheck to paycheck, struggling with debt, or feeling financially stuck. A plan isn’t just about saving—it’s about building wealth and creating options.
The Cost of This Mistake: Without a plan, it’s easy to overspend, under-save, and miss opportunities to grow your wealth.
What you can do:
Create a budget that fits your life. Forget rigid spreadsheets—use a flexible, personalized system that works for YOU.
Set clear financial goals. Whether it’s buying a home, investing, or retiring early, clarity makes saving and earning easier.
Build an emergency fund. Aim for 3-6 months of expenses as a safety net. Life happens—be prepared.
3. Relying on One Income Stream
One paycheck? One source of income? That’s financial risk. Job loss, economic shifts, or unexpected expenses can shake your financial stability if you don’t have a backup plan.
The Cost of This Mistake: No financial cushion means more stress, fewer choices, and a slower path to wealth.
Diversify your income. Explore side hustles, freelancing, investments, or leveraging your skills for extra cash flow.
Look into passive income. Rental properties, stocks, digital products, or affiliate marketing can make you money while you sleep.
Invest in yourself. The best asset? YOU. Take courses, expand your skills, and open doors to higher-paying opportunities.
Take Back Your Financial Power
Women are powerful wealth-builders. The moment we start owning our financial journey, everything changes—more security, more freedom, more impact. And, when women thrive financially, we change the world.
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