7 Money Concepts Every Grown Woman Should Understand

Money is easy to think about in the abstract. For many of us, money means reaching our goals, having stability or buying a sweet new something. But when it comes to the mechanics of getting there? Well, that’s not so easy to conceptualize. Most of us aren’t taught money basics in school, meaning our foundational money knowledge is made up of online FICO scores and what our retirement apps tell us.

But by the time we’re grown women with grown goals (I may or may not be there, check back in five years), we need to know a thing or two about our finances. I rounded up some of the most Googled money concepts to fill in those gaps in your financial literacy.

1. How savings bonds work.

Savings bonds are something many people have in their portfolio because someone else bought them or they were told to. But how does a savings bond really work? That's a question we should all be able to answer.

2. The difference between a 401(k) and a 403(b).

We all know saving for retirement is important (I hope), but some people grow old without understanding the ins and outs of retirement accounts. Every woman in adulthood should know the terms 401(k) and 403(b) — and they should open them, too. 

3. How to establish good credit.

Adults have financial goals and they know they can’t reach a lot of them without good credit. But good credit doesn’t just happen. Everyone should understand how to establish credit that helps them buy that house or whatever else they want. (A yacht? A Mercedes? You do you). 

4. How to effectively negotiate.

While holiday gifts, bonuses and side hustles are really nice, the best way to make a long-term impact on your finances is to negotiate your salary. Every woman should know how to harness her power and get the salary she wants and deserves. Of course, we’re operating in an unfair system here that stacks the odds against us (and our wallets). But that doesn’t mean we shouldn’t put ourselves out there and demand more when possible. Use your (justified) wage gap anger and put yourself out there. 

5. How to make money from used items.

We buy a lot of stuff — just ask Jeff Bezos. And there’s a way to cash in on all the regretful purchases you made when your favorite online retailer was having that killer sale. Grown women know when to donate and when to take the time to make some second-hand cash. And they know how to sell used items with ease — or, at least, in a semi-painless way. 

6. How to use the 50/20/30 budget.

There are billions of ways to budget your income, but there’s one budget everyone keeps coming back to: the 50/20/30 system. Even if they don’t use it, real adults understand the concept behind the 50/20/30: spend on stuff that matters, save as much as possible and let yourself have a little bit of fun. 

7. What the pink tax is (and how to avoid it).

By now, you know this place tends to be unfair for women. And by place, I mean essentially the entire planet. But you might not know the ins and outs of one small injustice: the pink tax. Everyone should know what the pink tax is and how to avoid it. Hint: start supporting women-founded startups.

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