Certain studies show that women struggle more with finances than men. According to a Good Housekeeping article, the difficulties women experience with money typically stem from having a stronger consumer attitude and the inclination to splurge on loved ones. Mothers cannot help but spend a lot on their children, and most women simply cannot pass up a sale.

During these economically troubling times, it goes without saying that women are in a vulnerable position if they continue to fall into the usual money traps. So, if you do not want to become a part of the statistics of women who always have trouble making ends meet and worry about their future, now it is the perfect time to learn the smart money principles to keep you financially afloat.

Listed below are six of the most important financial principles for women today:

1. Have your own source of income.

It is always smart to have money that you can call your own. Even if you have a spouse to provide for your needs, consider having your own source of income to help augment your family’s and even your own personal finances.

If you are single, naturally, you can look for a job that will allow you to use your skills or expertise, or start your own business, perhaps a home office/small office. If you are already married, discuss the possibility of working full or part-time with your spouse. Discuss the practicality of having your own money to contribute to the family budget or to use for yourself.

2. Spend way less than you make.

This is a valuable lesson that men and women alike need to learn. To remain financially afloat, it always helps to be frugal or spend way below your means. You will find that doing so does not really alter your quality of life. Research reveals that most people are just too used to overspending and buying things that they do not really need.

Sticking to the essentials and finding great deals online will help you reduce your budget on the items that you normally buy.

3. Make it a habit to save.

If you simply focus on saving, you may not find it fun but once you make a habit of it, it can actually turn into an enjoyable and practical activity.

To inspire you to save as much as you can, how about opening different savings accounts in your bank? Name every account according to what you intend to use the money for such as the renovation of your home, a trip to your dream destination, or holiday presents shopping for your loved ones.

This saving habit strategy sets you up psychologically to save more so you can avoid the financial pinch of fulfilling responsibilities or facing emergencies that require money.

4. Do not let relationships alter your smart financial habits.

Think twice (even thrice) before setting up a joint account with your partner.

Joint accounts with someone you love can actually breed all kinds of complications. Such accounts mean that you always have to consult with each other over what you should do with the money. Also, you may not be able to avoid nitpicking at each other’s contributions to the financial pool you have set up.

5. Keep your financial information private.

Women are always more inclined to share their bank and credit card information with family and other loved ones. This is a big booboo — do not do it. Although withholding such information may make you feel like you do not trust these people who are close to you enough, remind yourself that you need to look after yourself first.

Remember, those who have no intention of using your financial resources will have no issue about you not sharing such information with them.

6. Never let others use your personal information.

Under no circumstances should you let anybody apply for a credit card under your name. It may seem strange, but a lot of women are guilty of doing this. Those who do believe that they are helping a loved one in need by allowing him or her to get a credit card under their name.

The danger with allowing this is that credit card purchases will be charged under your name. Therefore, any delay in payment or excessive usage by the person using the credit card can impact your credit score. This can lead to all kinds of problems or complications should you need to apply for a personal loan in the future.

Financial savvy is a must no matter what the global economic situation is, and women ought to be financially savvy at all times.

This is absolutely doable with the help the principles shared here. With these as a foundation, there’s no doubt you can worry less about your future.