3 Ways Women Can Boost Confidence Around Money and Investing

6th April 2021

Last month Heritage Financial launched an initiative celebrating the natural traits that make women ideal long-term investors. HER Heritage represents our commitment to supporting women in developing the confidence to tap into those traits and build a strong financial future.

Today we are sharing three things women can do now to start boosting their confidence around money and investments. But first, a word about confidence…

Confidence is a muscle – use it or lose it

Let’s put a framework around confidence. Think of it as a muscle. It needs to be fueled, used, and worked on to be evident to you and others and helpful to you. If you lack confidence about a particular topic, in a specific setting, or just in general, it simply means you need more practice. Here are three things that women can do to practice building confidence around money and investing.

Get Really Comfortable With Your Budget

Your budget is simply a record of the money coming in (your sources of income) and the money going out (your expenses). If you haven’t put a budget together to track your income and expenses, this is the perfect exercise to start flexing your money confidence muscle. If you have a budget, make sure you are reviewing it monthly for changes. You can also start thinking about goals you have related to your monthly budget. How does it look relative to how you would like it to look?

If you are solely responsible for your own finances, you can’t afford not to be knowledgeable about your budget. But even if someone else takes care of your finances for you, getting to know your household budget is a way to start understanding your money picture and feeling more confident. Because managing your budget is the first step to saving. And once you are saving, the next step is investing.

Access our budget worksheet HERE.

Workout with Friends

We are more likely to feel confident around people and situations that make us comfortable, so our second tip is to identify a community of like-minded women that also want to work on building their money confidence muscles. Not sure where to start? We have the perfect idea.

Heritage is excited to launch our first two HER Heritage events exclusively for our female clients, partners and friends.

In April, we’ll be planting the seeds of a strong financial future with a Lifetime Master Gardener. In this virtual event, our guest speaker will teach us the basics of starting and maintaining a thriving vegetable garden. If gardening is a hobby, passion, or bucket-list item, you won’t want to miss this event. It will include both practical applications for your garden AND symbolic life lessons about planting seeds now to ensure a bountiful harvest later. Learn more and register HERE.

In May, we’ll hit head on one of the biggest roadblocks for women’s confidence in money and investing: simply talking about money.

Did you know that 61% of women would rather talk about their own death than finances?

Breaking Money Silence is a can’t miss event for any woman that wants to boost her own confidence about money and investing, or help other special women in her life do the same. Wealth psychology expert, Kathleen Burns Kingsbury, will take us through this very important topic in May. Learn more and register HERE.

Join our events and be part of community where women are gathering to collectively flex their confidence muscles.

Pay Attention to Your Health

Healthy muscles are thriving muscles. And healthy finances are key to a secure financial future. So it’s no surprise that your personal health is a critical component of your ability to create and sustain wealth. After all, most of us want to enjoy the fruits of our wealth some day, and we need to be alive and thriving to do that.

If there is some aspect of your overall health that is nagging you, any of these three things will go a long way in improving your overall well-being. Pick one (or all three) and start making changes.

Stay hydrated.

More than 1/2 of our bodies are water. Here are 16 reasons that adequate hydration is key to a healthy body.

Eat less processed food.

Too many foods we eat for convenience have ingredients that aren’t familiar to us. And if we don’t know what an ingredient is, our bodies won’t either. Here’s a good overview of what not to eat if you are ready to minimize processed food in your diet.

Get more movement.

Not only does movement help you build muscles, but strong muscles mean strong bones. And exercise is great for your brain! Here are 10 easy exercises you can do anywhere.

So let’s start flexing our muscles!

Studies show that women have the natural traits to be good at long-term investing. It’s confidence that holds them back. Sign up for our upcoming events, and let’s work together towards boosting that confidence!

 

Kristin Castner, CFA

Kristin Castner, CFA

At Heritage Kristin is responsible for overall marketing strategy, with a focus on communicating the firm's message to clients and prospects and creating outreach programs to engage clients, partners and prospective clients.

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