While more women than ever are now investing their money, this world is still largely dominated by men.
A YouGov poll recently found that 52% of women in the UK have never owned any investments, compared to 37% of men.
This is despite the fact that female investors consistently outperform their male counterparts, according to a 2021 study from Fidelity Investments. Yet, research has found that only 9% of women think they make better investors than men.
So what is holding women back? And where should they start?
Studies have found that, when it comes to money, women are more likely to be risk averse. Some research found that men are more likely see money as ‘theirs’ and are therefore more willing to take risks with it.
Whereas, women – if part of a household – tend to think of money as belonging to the household, even if they’ve earned it. As a result, they’re more likely to be cautious with it.
Thankfully, this is starting to change and there are more resources than ever specifically tailored for women who want to get started investing – and secure their financial independence and future.
Here are our personal recommendations – and, it goes without saying that these can also be used by anyone of any gender, who might find them helpful:
Girls That Invest
Girls That Invest was set up by Simran Kaur and Sonya Gupthan, two best friends who were sick of investing being overcomplicated and feeling inaccessible.
Based on the fact that globally, only 16-24% of women invest (and even less so for women of colour) and seeing stats showing that 95% of money media articles direct women to save, while 70% direct men to invest, the two decided to take matters into their own hands.
Today, they run an award-winning global investing podcast – Girls That Invest – and Simran has recently released a book of the same name.
Their passion for closing the investment gap is infectious – and their 20-year-plus friendship makes for an entertaining and relatable guide through the usually jargon-filled world of finance.
Visit their site here.
Grow Your Money – Bola Sokunbi
Bola is a certified financial education instructor, author, influencer, and finance expert. She is also the CEO and founder of Clever Girl Finance, a platform that ‘educates and empowers women to achieve their own financial independence and freedom.’
This book is a clear and easy guide through the world of investing – from mindset, the basics of the stock market, tax and retirement to concepts like inflation and interest.
It also gives practical advice on where and how to actually go about making investments.
If you want to try before you buy, you can pay a visit to Bola’s platform for free resources on everything from budgeting templates to debt repayment plans.
Find out more here.
Money: A User’s Guide – Laura Whateley
This book by Laura Whateley ‘cuts through all the panic of personal finances’.
Not just for wannabe investors, it offers advice on everything from housing and student loans, to money and mental health.
However, if you are keen to learn more about where to start with growing your money, its simple and clear language is a great place to build an understanding of how things like pensions, stocks and shares, and ethical investing all work.
It’s the perfect resource for anyone who feels overwhelmed by the thought of learning about investing, as it starts with the basics.
Pick up a copy here.
Delyanne the Money Coach
Delyanne is a former lawyer, who had put herself through law school and was in six-figure debt. She was overworked and stressed, paying student loan back in minimum instalments, keeping her cash in a savings account, and barely investing.
Then she discovered the stock market – and never looked back. Now, she’s an investing coach with a podcast and platform that offers a plethora of courses and advice for people who also want to achieve financial freedom (or at least, make a start…).
Her Instagram is a constant source of investing tips and hacks, as well as inspiration for where to think about putting any spare money that you might have.
Pay Delyanne a visit here.
Stocks and Savings
Andreea and Jamie are a couple who run their Instagram platform together, giving daily information and food-for-thought about how to maximise your money.
Their account is very UK-focused, which is helpful as lots of others are based in the US.
They offer insight into how they’ve invested their own money, although – like all of these accounts – it’s caveated with the fact that it’s not ‘advice’ and just what they’ve personally learned or done.
But it’s a great jumping off point to do your own research and be inspired to get started.
Check them out here.
Investing for Girls
Natasha Simms, from Birmingham, set up her Instagram account, Investing For Girls, after working in finance and realising there still just isn’t enough information tailored to women out there.
Her Instagram offers clear and relatable content, while blog posts on her website go into more detail about things like investing myths, mistakes to be avoided, and how to get started.
She also offers clear advice on pensions and how to invest ethically.
Her down-to-earth approach is far from intimidating, and makes the world of investing feel a more accessible place to be – for everyone.
More info here.
Female Invest was set up by a group of women who were fed up of finance being all male, with the aim to steer other women through things like pensions, stocks and shares, property, and crypto.
They won a Cartier Women’s Initiative Award in 2020 and offer streetwise, useful and no-nonsense talks and seminars entitled things like, ‘Get Your S.H.I.T. Together’ (savings, home, investments, taxes).
Their platform does come with a monthly subscription fee but offers access to a ‘financial learning universe’ with a multitude of resources, masterclasses, seminars – it also introduces you to a community of ‘like-minded-women.’
Check out the platform here.
‘Stop Scraping By and Get Your Financial Life Together’ reads the tagline on this book by Erin Lowry – and the book is full of tips and practical advice on how to do just that.
We all know the feeling of not knowing where to start and – while, at times, the book might go overboard on the ‘millennial’ lingo – the information is clear and easy to take in, and specifically aimed towards people who have never invested before and need to know the basics.
Pick up a copy here.
If you want more tips and tricks on saving money, as well as chat about cash and alerts on deals and discounts, join our Facebook Group, Money Pot.
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