Making more money is often easier said than done- but it does not have to be this way.
A financial expert once said; “ My biggest advice to women who want to save more money is to make more money”. Our financial lives should be aspirational and not viewed as an unending sad story. We should take every opportunity to seize control of the slow and moving vessel that is our finances, and work to accomplish the financial goals we set for ourselves as women.
Making more money is often easier said than done- but it does not have to be this way. If you are a woman looking to grow your savings or even improve your cash flow, you can explore the world of investing. Yes, investing in the stock market or bonds carry some risk, but it is a proven way to improve one’s financial situation over time.
Here are 3 tips for women who want to try their hands at investing.
1. Learn the basics of investing
Although most studies show that women make better investors as compared to men, women usually display an initial lack of confidence in this area. An excellent way for the average woman to improve their level of confidence in investing is to take action to delve into the basics principles of investing. This will not only build confidence but also help you create your own unique investment strategy.
2. Invest with your head and not your heart
It is important to know and accept that the stock market goes up and down. Do not get emotional about investing. An “up” market will inevitably go down, sure as a “down” market will go back up. There are opportunities in either investment climate if you learn to put your emotions aside and take an analytical look at the array of value a depressed stock market presents. It is also essential to ignore the short-term gyrations in the market if your goals are geared towards the long term. Do not panic and sell your holdings if you are building your portfolio for retirement 20 years down the line.
3. Research is your friend
With hundreds, even thousands of stock and bond investment products out there, it can be hard to select a few that may work for your portfolio. It really doesn't help that every time you read a newspaper or turn on the TV, there is a new "Investment Guru" totally contradicting the last one. I employ you to do as much research about your investment targets as possible. Read newspapers, analyze company reports etc.