9 Finance tricks every woman should know

Every woman should know their options before investing. Here are a few tricks they should know to climb their way to financial empowerment.
1. First and the most important one, no one cares about your money more than you so do not delegate complete control to someone else.

2. Taking risks are not bad. Don’t hide out in bonds. When it comes to investing, calculated risk is associated with higher expected returns. When you take the long view in the market, prudent risk-taking combined with buy-and-hold investing can lead to actual significant returns.



3. Most successful investors get expert help. Chose your advisor wisely and smartly, know which questions to ask. A good, fiduciary investment advisor can provide returns that compound over time, far outpacing any fees you’ll pay for advice. She should be able to articulate her investment philosophy clearly and teach you about it efficiently.

4. Live below your means and make automatic contributions to your retirement account each month. You need an emergency account more than anything else. That should be accessible at anytime. It is better not to invest the money in stocks and shares as volatility increases.



5. Clear your debts. No matter how much Perfect-Mr. Credit you marry, it is always advisable to clear of any future debts for you never know when you would end up being a credit defaulter.

6. Save more. The reasons are various. • It has been scientifically proved that women live longer than men. Hence, women should save more for their retirement plans. • It has been proved that during lay-offs, it takes on an average a time period of nine months to land up with another job.

7. Overcome your fear of stock markets by learning to build a ‘layer of cake wealth’. Talk to amateurs as well as the professionals.

8. Challenge yourself to learn new investing strategies, like looking at options to generate income. Today’s generation have the advantage of social media. Nothing can be a better platform to learn. You can not only learn, you can even create a network of people who are looking for financial advice.



9. Do away with your fears and pre-assumptions that men are better with money. They are not. Women have more dough stashed in savings than men. And, they more than often have long term financial goals. Trust your instincts. Nothing works better than this when you are confident.

Enough of stash talks, it is time to enter the field and give your first goal!

(image credits: claypiggy.com)