What’s the best financial advice you’ve ever received?
Maybe it was to start saving early, avoid debt, or invest wisely. But for many women, financial literacy wasn’t something we were actively taught growing up. Money decisions were often seen as something men handled, while women focused on other responsibilities. But times have changed, and so should our approach to money.
By the time you hit 40, you’ve likely experienced financial wins, setbacks, and unexpected expenses. But no matter where you are in your journey, there are key financial lessons that can help you build security, independence, and a future you can look forward to.
Here are 5 essential financial lessons every woman should know before turning 40 because financial empowerment is the best gift you can give yourself.
Your Future Won’t Plan Itself. So Start Now!
It’s easy to push financial planning to “someday,” especially when there are immediate expenses like rent, groceries, and social outings. But the truth is, financial security doesn’t happen by accident, it’s always happen as a result of intentional planning.
The earlier you start laying the foundation, the stronger and more stable it will be. But when you don’t have a plan, your money tends to slip away, and before you know it, years have passed with little savings.
For example, Tolu is a 38-year-old marketing professional. She always thought she had time to start saving for her future. She focused on travel, enjoying life, and living in the moment. But when she hit her late 30s, she realized she had no financial safety net. Now, she’s playing catch-up, making much larger sacrifices than if she had started earlier.
What You Can Do Now:
✔️ Set clear financial goals. Where do you see yourself in 10, 20, or 30 years? Do you want to retire early? Own a home? Travel the world?
✔️ Start saving and investing today, no matter how small. Even N5,000 a month can grow significantly over time with compound interest.
✔️ PAL Pensions will secure your long-term financial stability. It’s one of the simplest ways to guarantee future income.
Your Income Needs Multiple Streams
Relying on one source of income is very risky. If your salary disappears, how will you survive? Wealthy women don’t depend on one paycheck. They create multiple income streams.
Consider:
✔️ Side businesses (freelancing, selling products/services)
✔️ Investments (stocks, bonds, real estate)
✔️ Passive income (royalties, dividends, rental income)
If your job offers a pension plan, maximize it. A well-structured pension, like PAL Pensions, ensures financial security even when you stop working.
Financial Independence Is Non-Negotiable
Whether you’re married, single, or in a relationship, financial independence is a must. Too often, women rely on their partners for financial stability, only to find themselves vulnerable after a breakup, divorce, or unexpected loss.
Regardless of your relationship status, always:
✔️ Have your own savings and investments. Even if you share finances with a partner, ensure you have independent savings.
✔️ Stay informed about your financial situation. Know how much you’re earning, spending, and saving.
✔️ Make pension contributions in your name, so you have a secure future no matter what.
Your financial independence is not optional. It is very essential. And at PAL Pensions, we provide flexible pension plans designed to support women in every stage of life. Whether you’re a career woman, entrepreneur, or taking time off work, you can still secure your financial future.
Your Financial Network Matters
Who you surround yourself with influences your financial mindset. If you only talk about spending and never about wealth-building, you’ll struggle to grow financially.
Surround yourself with people who:
✔️ Invest and share financial knowledge
✔️ Encourage smart money habits
✔️ Help you make informed financial decisions
Join financial communities, attend investment workshops, and learn from women who have successfully built wealth.
Negotiation Is a Superpower. Use It!
Women often undervalue their work and hesitate to ask for more. But the women who negotiate their salaries earn more over their lifetime than those who don’t.
Before accepting any job offer or raise, ask for more:
✔️ Research salary benchmarks
✔️ Present your achievements confidently
✔️ Be prepared to walk away
Remember, every ₦100,000 increase in salary compounds over time. Don’t leave money on the table.
Your Next Steps:
- Set clear financial goals and start working toward them today.
- Start investing. Your money should be working for you.
- Prioritize financial independence, no matter your relationship status.
- Build a safety net so unexpected events don’t derail your future.
- Take your pension seriously. It’s one of the best tools for long-term wealth.
As women, we juggle so many roles, daughter, sister, wife, mother, career woman. But no role is more important than being the CEO of your own financial future.
By mastering these 5 financial lessons, you set yourself up for a life of security, freedom, and independence. Whether you’re 25 or 39, the best investment you can make is in your own financial knowledge.
So, which of these lessons are you applying today?
Financial security means having enough money and resources to meet your needs, handle unexpected expenses, and maintain a comfortable lifestyle both now and in the future.
At PAL Pensions, we’re here to help you every step of the way. Whether you’re just starting or adjusting your financial plan, we provide the tools and guidance you need to reach your financial goals.
