MyMoney Online

3 financial attributes of women

Women are more cautious

Women tend to be more risk averse than men when it comes to investing. Women tend to be cautious and hold their investments longer than men who look for higher returns in more frequent trades. Given that one can afford to be more aggressive with their investments over a longer time horizon a cautious strategy is likely lose out on higher compounding over time.

Financial knowledge

It is accepted that women generally have less financial knowledge than men. This probably stems from the traditions of the past where the man was the bread winner and the wife focussed on the needs of the family.

Financial independence is for everyone and the more knowledge one has the better the investment decisions will be. Financial information is available everywhere from advisors and consultants to the internet.all it takes is the will to seek and find the information required to develop a meaningful financial plan.

Women need to be more selfish

Sacrificing everything for the family is admirable to say the least but without setting enough aside for the future the struggle will never improve. Living from hand to mouth gets more difficult as the cost of living rises at a faster pace than salary increases over time.

Women need to find ways to save more for the future. Not only for their family needs but for themselves. They need to work towards their own financial independence to attain financial freedom in the future. This can only be achieved by saving and investing more effectively over time.

Listen to the full interview below for more information...

Read more from Paul Roelofse at www.investforlife.co.za


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