Mothers, we’ve all been there. It’s three o’clock on a Monday afternoon, the kids are in school, and you have one hour to yourself before your door flings wide open with the question “Mum, what’s for dinner?”. You’re sitting debating whether to wash dishes that have been piling up or do the other 16 tasks awaiting you. But, what if there’s another option that could change your life forever? Ladies, it’s time to talk about money.
Whether you’re a working woman, a housewife, a mother, or a student trying to make ends meet, money should be on your mind. No, this is not a “get-rich-quick” article. This is an opportunity to think about the money you have, and want to have in the future.
It’s easy to turn a blind eye and convince yourself that saving those pennies is an appropriate financial strategy. But with inflation at its highest since 1992, it’s time to wake up the money that’s sleeping in your bank account and make it work.
Financial matters can be daunting. Therefore, as women, we statistically like to avoid thinking about them. This consequently impacts our financial security and makes us feel like we’ve lost control. However, it’s now time to take back that control and educate ourselves, so we don’t find money matters intimidating anymore.
Ignorance is bliss, but knowledge is wealth. By becoming more financially literate, we can start making financial decisions that improve our long-term livelihood. In today’s world, the online resources available to teach us about money and how to make the most out of it, are countless.
Investing is a great way to empower yourself and reduce the anxiety you may feel surrounding money. It might feel overwhelming at first, however, it’ll help you make informed financial decisions that could prove to be quite rewarding, once you get the hang of it. Now you may be thinking, why take a risk with investing when my money is perfectly fine sitting in the bank? Each individual has their own style when it comes to investing and you can control the factors which determine how risky your investment is. Risk and reward can fluctuate depending on your investment objectives, your timeline and how much you want to invest. Once all these factors are considered you’ll realize that it’s not a game of chance, but more a calculated decision to reap the rewards that suit you best.
Financial planning is necessary and should no longer be thought at the back of your mind. Use that one hour you have free in the day to start thinking about your finances. Start by writing down income streams, debts owed, saving goals and how much you want to put away for a rainy day. There are no instant solutions for most things in life, but we have to start somewhere to get where we want to go. Let’s avoid missing out on opportunities that could help us become more financially secure. It’s time to take back control. It’s time to talk about money.
**As with any investment, capital is at risk, as the value of your investment can go down as well as up. Consult your financial advisor before implementing any plans as your needs may differ.