First start with the head.
The length from the top of the head to the chin makes up about 1/8 of the length of the body.

So take this measurement and repeat it 7 times down the body. Each measurement corresponds to a different part of the body, starting with:
-Top of the head to the chin
-Chin to the nipples
-Nipples to the belly button and elbows
-Belly button to the crotch and wrists
-Crotch to mid thigh
-Mid thigh to the bottom of the knee
-Bottom of the knee to mid shin
-Mid shin to bottom of feet

The hips should be the larger or the same width as the shoulders. (The waist I did here accidently came out far too small to be real)

You should now have a well proportioned female figure, ready for features and clothes to be added :)