Women Need to Invest More Money to Secure Future Prosperity

The average British woman invests half the amount they spend on treats, such as clothes, beauty products, gym classes and eating out, says entrepreneur and former Apprentice contestant Jackie Fast.

Writing for City Matters, Jackie said they spend £211 per month on day-today treats, but only £98 on saving and investing.

Jackie did further research and found that women invest 40% less than men – 61p for every £1.

Whilst there are reasons why woman cannot always invest as much as their male counterparts, such as career breaks and the gender pay gap, women still need to up their game when it comes to money management.

As a former financial advisor, I frequently saw women leave the all household finances, such as mortgages, pensions and savings, to their male partner or husband.

This often led to disastrous consequences during times of divorce or widowhood. 

Women need to take control of their own finances, separate from the family budget. Finance is still not widely taught in schools, so it does require some effort.

See an independent financial adviser or better still learn more about finances through reading quality newspapers and books on money, attending seminars and courses or by taking a financial adviser course, as advised in one of my earlier Money Tips podcasts. 

Word of the Day

Derivatives

A derivative is an arrangement or product, for instance, as a future, option, or warrant, where the value derives from the value of an underlying asset, such as a commodity, currency, or security.

Due to major growth sector in financial markets the trade in so called derivatives has grown.

In the financial markets, share prices, bond prices, currency rates, interest rates and dividends go up and down, creating risk. Derivative products are financial products which are used to control risk or paradoxically exploit risk. It is also called financial economics.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.