Investing Tips for the Millennial woman

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Our 20s are hard, but being in your 30s presents a whole new set of challenges. Women in their 30s are expected to achieve more and therefore, they find themselves going down life paths differently. The great thing is, your 30s bring a greater level of self-awareness and since rethinking about the future tends to take a centre stage for most, this is the perfect time to choose the best investment opportunities. 

We’ve all heard the stereotypes: Women are shopaholics racking up credit card charges to add one more pair of shoes to an already overflowing closet, while men bring home the bacon and are savvy investors that understand how to manage money and take advantage of opportunities. These clichéd images have overtime been reinforced by the media and popular culture.

When it comes to investing, a number of studies have revealed that men and women invest differently. Gender differences in investment approach, perspective and experience can enhance long-term investing success. Women have been classified as being less confident, not keen on investing in the stock market and massive spenders. Whilst on the other hand, the same women can be seen as being more open to seeking guidance, more patient and a trend has been seen on millennial women who are investing more than their predecessor. Well, to the millennial women in their 30s who are seeking to change the narrative this year and START, here are a few tips on investing:

Before going big on investment:

1. Educate Yourself

Before diving into strategies that claim to give you a better financial future, carve out some time to learn about money management and investments.

2. Set Clear Financial Goals

If you don’t have a set goal to work towards, it can be hard to find the passion or drive to save. Whether it’s a house you’ve been eyeing or your retirement, carefully defining these goals and figuring out how much you’ll need to save can help you craft a better plan for getting there. 

3. Make a budget and stick to it. 

The first step is to gather all your bills and pay remains, then plan your budget for the month according to your income and your expenses. 

4. Save for Retirement:  

Let’s get real, we are all getting old, why not start saving now so that we are not drowned in worry later!

5. Avoid Consumer Debt

Some debt like mortgages and student loans are OK to take on if they fit in with your overall budget. In a consumer-driven society, it’s incredibly easy to live beyond your means; a good rule of thumb is to try and save at least 15% of your income  and always spend less than you make.

6. Use Missteps to Help You Learn and Grow

As the famous saying goes, experience is the best teacher. Instead of being ashamed of past financial missteps, learn from them and make better decisions.

7. Put Your Savings on Autopilot

Have your savings contributions automatically deducted from your paycheck and/or direct deposit into an investment account. If you put money aside before you even see it, you’ll tend to not miss it.

8. Always Take Free Money:

You should never turn down free money—your nest egg will grow faster, if your employers march a percentage of your benefit contribution, take it up sis!

9. Don’t Let the Financial World Intimidate You

A good percentage of personal finance is not financial education, but financial behaviour. If you can modify your behaviour with your finances, you can modify your financial future. 

Contrary to popular belief you don’t need to be a financial expert to start investing, budgeting or preparing for emergencies. All you really need to do is work on building a solid plan and committing to it. As the American poet Carl Sandburg said, “Money is power, freedom, a cushion, the root of all evil, the sum of blessings.”

Have an investmentfull year! 

Quick Maths (3): How to use your salary/business net income with FSDH Asset Management

Having a money moves mindset means thinking big when it comes to your finances.

Welcome to the third part of our Quick Maths series where we’ll be giving you the lowdown of how to master your personal finances in simple ways.

We’ve talked about how to generate income to start your business, and how to diversify your funds (even as a low-income earner), now its time to dive even deeper.

So… you’ve received that alert now and paid all your bills. What do you do with the rest o the money? Cash out? Call up your girls for a breezy weekend? Nah girl, you need to take a step back, there are more pressing issues.

As a career or businesswoman, it’s important to know your bottom line and use it wisely. Your bottom line is what remains after you have removed all expenses from your income. What does your account balance look like after deducting expenses? Is it smiling back at you?

Now ask yourself, have you thought of using your last bottom line to increase your next bottom line?

We partnered with FSDH Asset Management Ltd to bring you this guide to help you understand ways to use your business net income, known as “bottom line” to your advantage.

When you really need to know how well your business/finances are doing, check your bottom line - @fsdhcoralfunds Click To Tweet

Topics this guide will cover:

  • Bottom line – what it means, why it is important and how to make it work for you.
  • What you can do with your bottom line – how to improve your finances by using your bottom line wisely.

Figuring out how to make your bottom line work for you might seem difficult, but we are here to make it easier for you. We’ve gotcha, boo!

After reading this guide, you’ll understand how to manage your income better and use it to get more resources to keep increasing your bottom line. You’ll also learn to track your spending and get excited about checking your accounts.

If you want to keep learning ways to grow your money significantly over time, you shouldn’t miss the next guide because, with every guide, the lessons get deeper.

FSDH ASSET MANAGEMENT LTD  – FSDH AM is a wholly owned subsidiary of FSDH Merchant Bank Limited. They are one of Nigeria’s leading asset management and financial advisory firm.

FSDH AM is versatile in financial transactions and investment strategies that meet the need of investors in an emerging economy like Nigeria. They recognize that today’s investors need the services of dedicated and expert professionals to provide them with intelligent investment counsel.

Therefore, their strategies are dedicated to preserving investors’ wealth while maximizing the value that they receive.

Once you’re through with this guide, visit FSDH Asset Management Ltd to know more and get all your pressing questions answered.

Getting access to this guide is easy: just fill out the form below to join our community and get access to this guide, remember this is only part 3, there’s more to come – so stay updated. By joining our community, you also get to enjoy our AWESOME weekly content as well.