Five ways for women to help overcome a lack of confidence about money and investing

  • Posted By : reliancesmartmoney.com
  • Monday Sep 04, 2017

Key Takeaways

  • Use your questioning power to obtain a detailed scrutiny on investment options
  • Inclination towards stability and security is desirable
  • Being conservative is the key towards more rewarding and sensible investments
  • Be more money-oriented and get out of the ‘this-is-a-man’s-job’ mentality
  • Educate yourself, use the power of the information age and be at par with your male counterparts
  • Be the owner of your money-plan and be your own critic
Do you like the idea of a ‘happily ever after’? Do you yearn for a financially independent existence? Would you want to know more on growing your hard-earned money? If you have answered yes to all these questions, you have arrived at the right spot. While earning is the initial stage of money-making, investing is a growth-oriented skill that can lead to a safe future which is much needed for women these days. Having said this, we would like to highlight a proven fact – women have the potential to be the best of investors. They have the right temperament and their very cautious nature is a boon. The fact that most women look forward for security and stability in finances helps them make intelligent investment decisions. Then why is it not often that a woman enthusiastically treads down this avenue? Here are five factors that can help women find their motivation towards investing.

Have Adequate Knowledge

  • Most women are afraid to get into investing because they lack knowledge in financial matters. Either they will not be interested or would not know from where to start. To beat this, we give you brief highlights of investment trends that you can start researching on.
  • Investment periods are from short, mid to long term based on personal preferences.
    Debt Funds are ideal short to mid-term investments that involve low risks.
  • Equity Funds are ideal for long term investments since they deal in the stock market and are associated with higher risk levels.
  • Balanced Fund options are for a moderate risk taker that involves both Equity and Debt. These can be for midterm to long term investment horizon.
  • ETFs (Equity Traded Funds) are ideal tax saving instruments in conjunction to wealth accumulation. Under ETFs, an excellent choice for women could be Gold ETF that tracks the asset delivering better returns than simple buying of gold.
  • Investments in Real Estate are promising in terms of capital appreciation of money over a long term.
  • SIP (Systematic Investment Plan) is the best way to begin your investment journey. They are crafted in a way to regularize savings and inculcate discipline while having many flexible features.

Get a Financial Mentor (Outside Family)

Individual research can get tiring and confusing as there is so much information available these days. What to rely on and what not to become throbbing questions which can compel you to rather hand-over finances to your fathers or husbands. To beat this challenge, get in touch with a skilled financial advisor that you can trust on. Try to learn and gain motivation from a professional instead of someone from your family. This is only to avoid unnecessary emotions getting in way of your fiscal development.

Centre on a Positive Outlook

Focus more on potential gains rather than wasting time and energy contemplating losses. After all, it is what you picture in your mind is what you receive in reality. Be stronger and realize your innate prospective

Stand Put with your Judgement

While it is vital to take your family’s outlook into account, it makes more sense that you be confident with your analysis and work on it. Own your investments openly and with self-belief. Perform a detailed study on available options and sketch out a plan that incorporates your expectations and goals and stick to it.

Keep Emotions at Bay

Fear is a form of emotion which is dreadful and causes irreparable damage. Never let this in your way of financial freedom. If you are not able to eradicate it, it is advisable you do not invest at all. There is no point of making an investment with fear groping your mind relentlessly.

While men have been bread winners since medieval times, today, the concept of double incomes within a family is not only common but also desirable by both men and women. Husbands are keener on seeing their wives earn while parents are ensuring to educate their girl child. These are proofs to the fact that there is a major shift in the mind-set of the populace. In such a positive scenario, it is fitting to ask women to use their inquisitive approach to work for their benefit when it comes to investments.

So ladies, put on your lipstick, strap on your stilettos, grab your tote, and start investing!

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