5 Initiatives Women Can Take To Empower Their Finances


Even though things are much better than they were before, there still is a gender inequality when it comes to women and finance. This inequality is not just because of the attitude of men towards women, but also because of the attitude of women towards themselves. Fortunately, Singaporean women are a bit different than the rest because surveys point out that Singaporean women feel financially secure than their male counterparts, and have a higher risk tolerance as well.

The report of 518 Singapore interview subjects showed that 25 per cent of the women felt ‘very financially secure’ compared to just 13 per cent among men. Moreover, more Singaporean women (24 per cent) would adopt a high risk-high return investment strategy than men (14 per cent).

However, there are women who still maintain a distance from finances. According to a recent research study, the number of active male investors far supersedes their female counterparts. Results show that women are more likely to shy away from investing their money for various reasons, including thinking that they do not have enough money to invest or it being too big of a risk, without realizing that not investing their money at all is a much bigger risk that investing it.

Due to a mix of organization bias against women, lack of attention and competitive salary raises, majority of women lag behind in investment wealth when compared to their male counterparts.

In the old days of traditional/narrow thinking, society did not care for the union of women with finances since it was considered the domain of men. But things have changed quite drastically over time, even though we have not been able to fully grow out of such views. It is time for all of us, and not just 25% or 45% of women to change. After all, why should boys have all the fun?

Here are a few initiatives women need to take in order to delve into the world of finance and reap some real benefits from it:

  1. Always find an excuse to invest

Traditionally, it is the men in the family who have always been making the financial decisions. This has developed a mindset in most women not to get involved in such decisions. This should not be the case because, ideally, both women and men should be taking such decisions.

These days women start initiating investment, mostly to protect their families, should something happen to the husband. This is done primarily for the protection of the children. This is a good reason to invest, but all women who earn should make it a priority to invest, irrespective of whether they have a family or not.

  1. Don’t be afraid of risk as long as it’s a calculated one

Somehow a lot of people end up assuming that women do not usually take a high amount of risk. This is not true. However, one fact about women is that they are more intuitive and are meticulous when it comes to taking decisions. This meticulous nature can be good and bad. It becomes worse when they ever think their decision and end up not taking any action.

Thus, it is not that women do not take risks, it is just that they over think it at times.

We need to have a bit of faith and ending up not investing at all is a much higher risk than not making the best investment.


  1. Empathize with your own needs

What women want is not very different from what men want, at least when it comes to financial security. Sufficient money for children’s education and a smooth life after retirement are the priorities, just as they are for men.

It is as important for women with a family to plan ahead, as it is for men because even though today is a hay day and your husband is providing sufficiently, you never know what might happen.

  1. Exercise constant vigilance

A lot of women are barely aware of what goes on in the world of investment. They either lack interest completely or go with whatever someone is saying or doing. However, the fact is that everyone must invest according to their own needs, including women.

Since the best decisions are the informed ones, women need to make it a point to do enough research regarding what investment plan they want to take up.

Also, having a fixed deposit is good, but it is no replacement to real investment.


  1. Never stop learning

While taking risks, knowledge is key. One must know everything about the risk they have taken so that there can be actions taken when the risk goes either of the two ways.

By the above statement what I mean is you should know when you want to liquidate your assets, be it in the case of loss or gain. I know that anyone is capable of doing everything but experts exist for a reason and if you do not possess sufficient knowledge or if something makes you feel uncomfortable, it is best to hire an expert to help you out.

If you have not already started investing, you should do so immediately keeping the above points in mind. Investments are not really that difficult and might even prove to be fun; it is all in the mind. In the end, I would just say one thing – may the odds be ever in your favor!

What do you think?