Financing Tips to Reach Your Goals

Mar 06, 2025

As women entrepreneurs, we strive for financial independence, stability, and growth. Yet, the world of finance can often feel overwhelming, especially when it comes to securing loans, managing debt, and making informed money decisions. That’s why having the right knowledge and support system is essential to building financial confidence.

Cassie Dittman, founder of GrowWell Financial, has spent years guiding women through the financial landscape, helping them take control of their finances and make strategic decisions that align with their personal and business goals. In a recent conversation, she shared some invaluable insights into navigating home and business lending, managing money wisely, and avoiding common financial pitfalls.

Understanding Your Financial Goals

One of the most common mistakes people make when buying a home or investing in a business is not having a clear understanding of what they truly want. Before making any financial decision, take the time to define your goals:

What are you buying this property or asset for?
What do you want your lifestyle to look like in the future?
How will this financial decision impact your long-term plans?

Many people buy properties or make business investments without fully considering whether they align with their ideal lifestyle. Being clear on your goals ensures that you make the right financial choices, rather than getting swept up in market trends or societal expectations.

Preparation is Key for Business Owners

For women who run their own businesses, financial preparation is even more critical. Unlike salaried employees, business owners have to plan ahead to ensure their financials are structured in a way that makes borrowing easier.

Some key tips include:

Keeping tax records up to date and making sure tax bills are paid on time.
Understanding that your financials determine your borrowing capacity—lenders will look at your income and expenses to assess risk.
Setting up BAS registration early if you plan to expand or need additional financing for your business.

By having a solid financial structure in place, you set yourself up for success when applying for loans or making big financial moves.

Smart Borrowing: Deposits, Debt, and Interest Rates

Many first-time homebuyers assume they need a 20% deposit to get into the property market, but that’s not always the case. There are options, such as government-backed loans, family guarantees, and other lending solutions that can help reduce the upfront cash needed.

When it comes to managing debt, understanding the difference between good and bad debt is essential:

Good Debt: Loans that help grow your wealth over time, such as property investments, business expansion, or shares.
Bad Debt: Loans for depreciating assets, like car loans or credit card debt, which don’t contribute to your long-term financial growth.

A common question women ask is whether to choose a fixed or variable interest rate. While fixed rates provide stability, variable rates offer flexibility and potential savings over time. The best choice depends on your financial situation and risk tolerance.

Financial Habits That Build Wealth

The path to financial empowerment isn’t just about making big financial moves—it’s about developing small, consistent habits that add up over time. Here are some strategies to reduce financial stress and accelerate wealth-building:

Automate savings and tax payments: Treat tax as a non-negotiable expense and set up a separate account for savings and tax obligations.
Put unexpected money toward debt: Bonuses, tax refunds, or any extra income should go directly toward your loan repayments.
Avoid lifestyle creep: Just because your income increases doesn’t mean your expenses should. Be mindful of unnecessary spending.
Use offset accounts and extra repayments: Small extra payments on your mortgage can shave years off your loan and save thousands in interest.

The Power of Financial Awareness

Many women shy away from financial discussions, feeling like they “don’t know enough” or that money is complicated. But knowledge is power, and the more you educate yourself, the more confident you become in making financial decisions.

Surround yourself with trusted advisors—financial coaches, accountants, and lending specialists—who align with your goals and understand your unique journey. Take the time to explore your money mindset and recognize that financial literacy isn’t about perfection; it’s about progress.

Final Thoughts: Take Control of Your Financial Future

Financial empowerment is about more than just making money—it’s about making informed choices that align with your values, lifestyle, and long-term goals. Whether you’re looking to buy your first home, expand your business, or simply get a handle on your finances, the key is to start with clarity, preparation, and smart money habits.

You don’t have to navigate the financial world alone. Seek out resources, ask for help, and take proactive steps toward the financial freedom you deserve. By making empowered financial decisions today, you’re building a stronger and more secure future for yourself and your business.