The Decision That Changes Everything
- 6 hours ago
- 3 min read
By Iryna Kirieieva
What financial decision changed your confidence?
It wasn't really a decision – it was the realization of a fundamental truth: you alone are the architect of your happiness. Don't rely on someone else – parents, husband, financial advisor – to come along and say "do this" and solve all your problems.
You alone are responsible for your financial future, even if someone else manages your money. Why? Because everyone can be wrong – husband, parents, friends, relatives. A financial advisor may not know seemingly minor details of your life that, from a financial planning perspective, could be critical mistakes.
That's exactly why you must know the basic fundamentals of financial literacy that will help you, first and foremost, gain confidence. And financial confidence is true power.
How does money literacy affect leadership?
Whether you're managing your own home and family or a large enterprise, financial literacy becomes your tool of power and freedom. It helps not only with strategic planning but also creates a healthy atmosphere in your family and team.
When you understand financial processes, you make decisions consciously, not from fear or insecurity. This confidence gives you control over your own life. You don't stay in toxic relationships because of financial dependence. You're not afraid to change jobs or start your business because you know your numbers. You don't panic when markets fall because you understand the nature of economic cycles.
Financial confidence isn't just about knowing how to count money. It's psychological resilience that transforms your attitude toward life. It's freedom of choice. It's a peaceful sleep. It's the ability to help your children and loved ones. It's your voice in family and business decisions that speaks with the strength of knowledge, not from a position of weakness and dependency.
This knowledge becomes the foundation not only of financial but also psychological health. People who understand nothing about financial literacy and economics have a very hard time during periods when markets fall, and it's precisely in these moments that people often make the most critical mistakes – selling assets at market bottoms, making hasty decisions out of panic, losing years of savings in a matter of days.
What should women understand earlier about wealth?
There are several fundamentals of financial literacy that every woman should know as early as possible:
First: an emergency fund – this is your peace of mind and your children's peace of mind. Whatever happens, you always know that in a critical situation you have money to pay your bills. This confidence is priceless. It gives you the strength to say "no" to what doesn't suit you and "yes" to what aligns with your values.
Second: the power of starting early. Even if you're 18 and have your whole life ahead of you, no matter how much you earn – always save. The earlier you start, the more money you'll have in the future, and the difference can be staggering.
Let's look at a simple example from everyday life. You buy coffee for $5 five times a week – that's $25 a week or about $100 a month. Over a year, that's $1,200.
Imagine that instead, you make coffee at home and invest that $100 per month at an average annual return of 7%:
Start at 18 (until 65 – 47 years) → you will have $441,301
Start at 25 (until 65 – 40 years) → $264,112
Start at 30 (until 65 – 35 years) → $181,256
Do you see this enormous difference?
Saving the same $100 every month but starting just 7 years later (at 25 instead of 18), you lose $177,189! And if you start at 30 – you lose a full $260,045!
Time isn't just money – it's your most powerful financial tool. This is the magic of compound interest.
Financial confidence isn't a luxury. It's a necessity. It's your power, your freedom, your control over your own destiny. And it starts with one simple decision – to start today.
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