More women are investing - and so can youĭuring the pandemic, investment platforms and trading apps reported a new wave of female customers. Viewed by over 2mn people, her tweet prompted thousands to confess they had only achieved this milestone by coming into an inheritance, receiving gifts or loans from their parents, or having a higher earning partner - as opposed to cancelling Netflix and their gym membership.Ģ. Lynn Beattie, who blogs as Mrs Moneypenny, started a viral thread on Twitter last month called “Can we all be a bit more honest about how we paid for our first homes?” It is also a reminder that we shouldn’t confuse financial independence with financial privilege.
Knowing that others are experiencing the same challenges can be a source of strength and inspiration, as the huge growth of the online debt-free community has shown. While these personal interactions cannot replace regulated financial advice, real-life stories remind us that nobody is perfect. From Reddit threads to “FinTok” and social media “finfluencers”, women can recognise themselves, finding role models that the traditional financial world fails to offer. “So often, money is a source of shame and stress, when it should be a source of freedom, empowerment and security.”ĭuring the pandemic, many more of us shared our financial fears and experiences online. “The element of community is so incredibly empowering,” says Alexia. The topics younger women most want to learn about are investing, negotiating a pay rise, becoming a freelancer and starting a business - and they want to learn from each other’s experiences. I would define this as moving from feeling overwhelmed by money to feeling more in control making your own decisions, setting financial priorities and developing effective habits like budgeting to help you achieve your goals.ĭonate to the Financial Literacy & Inclusion Campaign hereįor the app’s users, financial independence is about “having freedom over your time”. What financial independence feels likeįor all the negativity surrounding women’s finances, I wish we could bottle the biggest positive - the feeling that financial independence gives you.
#Women and finances free#
Thanks to the FT’s Financial Literacy and Inclusion Campaign, this article is free to read and share - so if you’re inspired by the expert suggestions below, please pass them on - and feel free to add your own in the comment field below.ġ. In the seven areas below, hopefully there’s a practical takeaway that women everywhere can act on. In the spirit of the 2022 theme “Break the bias”, I want to present some inspirational ideas about money that could shift your mindset. If the financial odds are so stacked against women, should we even bother? Now the cost of living crisis is adding to our woes, with inflation eating away at cash savings while volatility returns to global stock markets.Īs someone who has been writing about finance for more than 20 years, I worry that focusing on the negatives is a further barrier to engagement.
The gender pay gap has widened our pensions tend to be puny we live for longer, spend more of our lives caring for others and all of this negatively affects our finances.
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