Life & Work

The Money Mistake Women Are Making

The Money Mistake Women Are Making, invest, investing, loren, money, financial literacy, financial health

Women are doing a lot to make their money work for them. In fact, according to Fidelity's 2018 Women and Investing Study, three-quarters of women had plans to make their money work harder within the next six months. Amazing, ladies! Let's take our financial freedom into our own hands.

The Money Mistake Women Are Making

Yet, there's just one way in which many women out there are falling short: investing. Women are making a major money mistake in not investing. According to the Fidelity survey. 44% of women are putting their money in a non-retirement investing account, while 59% of men invest their savings in the market.

So, what's the deal, ladies? The answer is simple; many women don't understand how to get started or what to put their money into. In fact, just 1 in 4 women surveyed said they're comfortable with their investing knowledge, and only 44% said they'd know what steps to take to get started if given $25,000 to invest today. The majority of women said they need to learn more about how to select individual stocks before they can start investing their money in the market.

The good news is that it doesn't take much to get started in investing. There are easy options like robo-advisors Betterment or Wealthfront. These accounts learn about your spending habits and investing goals and invest for you. It's 2019 so there are so many options out there for women! All it takes is some know-how. Some resources to help you include one of my favorite podcasts, WIIN Network, they talk to experts to get you investing and mastering your personal finances.

Go out there and get your personal finances in check, ladies!