Financial planning isn’t about how you identify from a gender point of view, it’s about money attitude, habits and being willing to be held accountable.
Why women should feel confident investing
At 1825, we believe in equality and thankfully, women are increasingly taking control of their financial futures. However, it is well documented that typically women are still less likely to invest than men are, one of the reasons identified is a lack of confidence.
Gents, you’re great at this stuff too but in the spirit of International Women’s Day, here are some of the general reasons why women should feel confident investing (please forgive the generalisations):
1. They often ask great questions – they’re naturally inquisitive and keep planners on their toes, which shows engagement, real understanding and a commitment to their own financial plan.
2. They are generally organised – women have an amazing ability to spin many plates and know where their finances are up to.
3. They tend to focus on long-term goals – ladies tend not to sweat the small stuff and ignore the background noise of markets and politics. They know what’s important for them and have the emotional intelligence to keep the bigger picture in mind, which ultimately saves them costly mistakes.
4. They usually understand their spending – they know what they spend, sometimes they even feel guilty about it! Understanding your spending is a key element to finding financial freedom, although managing it takes strong will.
5. They keep cash aside – ladies tend to keep good cash levels aside for their short-term needs. This is the foundation of good financial planning, sometimes ladies need a helping hand to ensure they are not actually holding too much.
6. They know what they want – need I say more? Ladies tend to know what they want, and they’re prepared to put the hard work in to get it. Without commitment to a financial plan, it really isn’t worthwhile.
7. They prioritise – women quite rightly want more but they’re realistic and are prepared to prioritise their goals, it comes naturally.
8. They can be more risk averse – ladies tend to be slightly more risk averse, they’re not interested in the returns they could be getting, they understand that numbers are infinite and are more interested in the return they need.
9. They talk things through – arguably most importantly women tend to chat through their hopes, dreams and aspirations. This is one of the biggest differences and one that is more likely to make a financial plan a success, hopes are more likely to be achieved if they’re verbalised. Ladies understand this and speak to people that they know can help them.
Any one of these points could be applied to a man or woman, ultimately your gender doesn’t matter, we all deserve to have a plan and to use our money to live the lives we strive for. A financial planner can help you achieve that. If this struck a chord with you or you think we can help, it’d be great to hear from you, please get in touch.
The value of investments can go down as well as up and you may get back less than you paid in.