A survey shows that women are not as sure about investing money as men. Only 31 percent of women feel good about investing, while 44 percent of men do.
The survey also found that 34 percent of women don’t have any savings to put into investments, but for men, it’s 28 percent.
63 percent of women said they wouldn’t know how to start investing, but only 46% of guys felt the same, the research by HSBC UK showed.
Rebecca Owers from HSBC UK said: “We need to make our money work harder, so it’s important to consider options like investing. Financial education is key here by talking openly about money and learning the different options available, women can gain the confidence needed to take control of their financial futures.”
Remember, the money you invest can go up or down. Some folks might want to get advice before they invest.
The study also found that women who do invest often choose things their friends or family have invested in, with 20% doing this compared to eight percent of men.
55 percent of women think you need lots of money to invest, but only 36 percent of men think this.
Lots of banks and investment companies have apps that make it easier to invest.
Censuswide asked over 2,000 people in the UK for this information in December 2023.
Marianne Oliver, who is in charge of how things run at InvestEngine, shared: “Women face a myriad of challenges when it comes to investing not least having less money to put aside as a result of societal inequalities, from the gender pay gap, and often taking on more of the caring and financial responsibilities for either children or elderly family members.”
She also said: “This is obviously going to have an impact on how frequently they invest and their risk appetite, both of which would affect their returns.”
