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Empowering Women Through Financial Literacy: Insights from Ask Sabrina#6

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Empowering Women Through Financial Literacy: Insights from Ask Sabrina#6

In celebration of International Women's Day 2024, we are committed to advancing the cause of women's financial empowerment under the theme 'Invest in Women: Accelerate Progress', echoing the vision set forth by UN Women Asia. One of our recent events, titled "Ask Sabrina #6: Financial Literacy for Women," took place on March 28, 2024. The event was hosted by Sabrina Ho, our founder and CEO, and ShiyanSeet, a seasoned investor who started her financial adventure at 18 to becoming the founder of her own company presently.

1. Setting Financial Goals and Assessing Risk 

The first step towards financial empowerment is to have a goal-oriented approach. Define unique financial goals and prioritize your choices accordingly. Alongside goal-setting, you must assess your risk appetite. Understanding your comfort level with risk helps you tailor your investment approach to align with your financial aspirations. ShiyanSeet emphasizes the importance of considering high-interest savings accounts, especially in today's favorable interest rate environment. These accounts offer a secure option for those starting their financial journey with $2000. If you don't need the $2000 and are investing for the first time, Shiyan suggests putting it in equities. The principle here is to keep it simple. It does not have to be complicated. If you don't want to take time learning how to stock pick, you could put your money in index funds. As the author of Psychology of Money suggests, "average returns for an above-average period of time equals magic."

2. Investment Strategies and Tools

Shiyan advocates for simplicity in investing, asserting that it doesn't have to be complicated. For beginners, index funds offer a hassle-free way to invest, providing average returns over time. She recommends platforms like Saxo, known for their beginner-friendly interface, facilitating seamless trading experiences for novices. Diversification emerges as a recurring theme, with suggestions ranging from precious metals and bonds to exploring diverse industries beyond tech, ensuring a balanced and resilient portfolio.

3. Financial Management for Women 

Navigating irregular incomes can be challenging, but Shiyan offers practical advice. Whether it's stabilizing income streams or adopting disciplined saving habits, cultivating financial security requires commitment and perseverance. Saving diligently lays the foundation for wealth accumulation, enabling women to invest confidently for the long haul.

4. Advancing Investment Portfolios 

Moving from the stage of ideation to action in the investment process requires a systematic approach based on clarity and strategic planning. It all starts with defining investment goals that are in line with your overall financial strategies. It is important to understand your risk tolerance, which can be influenced by various factors such as age, financial situation, and comfort level, to tailor your investment strategies effectively. Next, conducting thorough research and creating a comprehensive investment plan that includes asset allocation and percentage distribution is critical for making informed decisions. It is important to embrace a long-term perspective and recognize that investing is a prolonged process that can span several years. By following these principles, investors can navigate the complexities of the market with confidence and achieve lasting financial success.

5. Diversification 

Encouraging women to cultivate diverse interests, Shiyan emphasizes the importance of an open-minded approach to investing. By exploring various sectors such as technology and healthcare, and considering both emerging and developed markets, investors can construct a balanced and resilient portfolio, essential for stable returns. Moreover, simplicity in investing is advocated, highlighting that complexity is not a prerequisite for success. Leveraging networks and fostering genuine interests can facilitate rewarding opportunities, especially for those contemplating a career pivot into investment-related fields, rendering the journey both enriching and fulfilling.

As we reflect on the insights shared during Ask Sabrina#6, it's evident that financial empowerment is not merely about accumulating wealth but about equipping women with the knowledge and confidence to navigate their financial journeys with resilience and purpose. At Half the Sky, we advocate for women to prioritize personal and professional growth, nurture their skills and talents, and embrace lifelong learning and advancement as essential forms of self-investment.

Discover limitless opportunities for career growth and empowerment by joining our community at Half the Sky Asia. As the leading career platform for women in Asia, we offer exciting job opportunities with Companies that Care! By signing up to our platform, you gain access to exclusive event invitations, enriching leadership content, informative newsletters, and invaluable career resources. Explore our company page, where we showcase the benefits designed to propel women towards success in their careers. Stay ahead of the curve with our actionable and practical career tips and stay informed about the future of work. Join us today and embark on a journey towards fulfilling your professional aspirations.

Disclaimer: The content of this blog article is for informational purposes only and should not be considered financial advice. We do not guarantee the accuracy or completeness of the information provided. Before making any financial decisions, please consult with a qualified professional.

Half the Sky's mission is to supply the tools that can give every woman the ability to build a successful career and be fully prepared for the future of work. So, that they can lead a healthy, prosperous and more balanced/blended lifestyle of their choosing.  By building your confidence, you’re setting foundations to empower yourself and your career.  The world is your oyster, and it starts with you. 

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