Boss Lady

How to get started in investing

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Recent research found that 21 percent of traders and investors have less than a year’s experience; and 80 percent of those surveyed are interested in finding ways to actively build their wealth beyond their current income. Investing is one way to build wealth, but it can feel like a daunting prospect as it’s often difficult to know where to start.

When it comes to investment, we also unfortunately still find a gap in conjunction with the gender divide. Women have fought for years to bridge the gap in opportunity and pay, but equality in this field is still some way in the distance. What is particular to note is what women do with their money and how a systematic undermining and save mentality has deterred women from investing in their income.

It’s a sector that has been gate-kept by men, with the top of the pyramid consisting of only 4% women. Gender diversity is a positive thing, and companies can also benefit from it. When it comes to breaking down these walls, there are a few things to be considered when entering the fields. And there are some solid principles that you can follow, which could make your first investment a lot easier.

Research

Something that may appear obvious but is immeasurable in value is research. Under the current system, the lack of diversity can be intimidating. However, an understanding of your chosen investment will lead to greater clarity for yourself and confidence when entering any business situation. Women already dominate consumer spending with 4.3 of the total of 5.9 trillion dollars spent by women. The potential and knowledge are there; it’s just about broadening horizons and certainty. For example, if you were choosing the best internet provider, you would speak to friends, do your own research and use price comparison websites.

Dip Your Toes

Sometimes the best way to get a handle on something is by doing, but, as an entrepreneur, it might not feel like jumping in headfirst is the best thing to do. That’s not to say don’t trust your instinct, but it’s wise to test the potential return of investment before putting all your finances into something.

Testing a product or service can be quite similar, and you can draw examples from this. If you were thinking of signing up to a streaming service like Netflix, they would give you a 7-day free trial before fully committing. Similarly, some products may have a satisfaction guarantee or money-back guarantee, where you can test a product with the sense of getting money back if you don’t like it. Likewise, as seen in a post written by Bonusfinder, online casinos can offer a low deposit so you can try them out or provide a free service before play.

Bet on yourself

The vital aspect of investing your money as a woman is to bet on yourself. Systems may have set up an institution, but there’s nothing from stopping you trusting your instincts and investing. There may be a ‘boys club culture’, but there are plenty of success stories out there to inspire you and portray that it is possible. Institutions should make changes to break these boundaries, but there’s no need to wait. 6.2% of women own businesses, compared to 9.5% of men, and it will take a gargantuan effort to help change that.

The gap between men and women investors is still quite daunting. However, progress is being made all the time, and it needs continuous effort with women not being afraid to break the mold and invest for themselves.

About Business Woman Media

Our women don’t want to settle for anything but the best. They understand that success is a journey involving personal growth, savvy optimism and the tenacity to be the best. We believe in pragmatism, having fun, hard-work and sharing inspiration. LinkedIn

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