Women Need to Invest More to Secure Their Future Prosperity

The average British woman invests half the amount they spend on treats, such as clothes, beauty products, gym classes and eating out, says entrepreneur and former Apprentice contestant Jackie Fast.

Writing for City Matters, Jackie said they spend £211 per month on day-today treats, but only £98 on saving and investing.

Jackie did further research and found that women invest 40% less than men – 61p for every £1.

Whilst there are reasons why woman cannot always invest as much as their male counterparts, such as career breaks and the gender pay gap, women still need to up their game when it comes to money management.

As a former financial advisor, I frequently saw women leave the all household finances, such as mortgages, pensions and savings, to their male partner or husband.

This often led to disastrous consequences during times of divorce or widowhood. 

Women need to take control of their own finances, separate from the family budget. Finance is still not widely taught in schools, so it does require some effort.

See an independent financial adviser or better still learn more about finances through reading quality newspapers and books on money, attending seminars and courses or by taking a financial adviser course, as advised in one of my earlier Money Tips podcasts. 

Word of the Day

Derivatives

A derivative is an arrangement or product, for instance, as a future, option, or warrant, where the value derives from the value of an underlying asset, such as a commodity, currency, or security.

Due to major growth sector in financial markets the trade in so called derivatives has grown.

In the financial markets, share prices, bond prices, currency rates, interest rates and dividends go up and down, creating risk. Derivative products are financial products which are used to control risk or paradoxically exploit risk. It is also called financial economics.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

What is your MONEY B.E.L.I.E.F SYSTEM?

Welcome to Money Tips Daily this is Money Kelly bringing you money tips to help you save and make more money!

Sir Roger Bannister, one of the all-time greats athletes died today aged 88 at his home in Oxford.

Sir Roger was a great British hero and the first break the four-minute mile barrier that many said was impossible. They said the human body could not survive such a feat. Yet in the year that followed, several other athletes also ran a sub 4 minute mile, and the Australian runner, John Landy, beat Bannister's record by 2 seconds the following month with a time of 3:57.9. 

This goes to show that when we have the belief that something is possible we go after it with a different attitude and more often than not achieve it.

The medical student, who only took up running at the age of 17, used his knowledge to devise his own training routine in order to help him achieve his goal of being the first man to break the 4 minute barrier with a time of 3:59.4.

When Sir Roger went out and ran the first sub-four minute mile in Oxford on 6 May 1954, after working a shift that morning, the previous world record had stood for nine years. The record has been held by various British runners since then, including Lord Sebastian Coe, Steve Ovett and Steve Cram. Today, it is held by Moroccan Hicham El Guerrouj, who ran a time of 3:43.13 in 1999.

But we will always the man who did it first, like we know that Neil Armstrong was the first man to set foot on the moon. Do you know who was the second man to walk on the moon? Buzz Aldrin. If you want to know the third, you’ll have to Google it!

Despite his remarkable achievement, Bannister didn’t even win the BBC Sports Personality of the Year Award, which went to his running mate and pacesetter Sir Christopher Chataway. Chris Brasher, who acted as pacesetters and who went on to co-found the London Marathon.

He was not awarded a Knighthood until 1975 and was a part-time amateur athlete who went on to become a distinguished neurologist.

There are two things to remember about Bannister’s achievement.

Firstly, it was no accident or stroke of luck. He set a goal to break the record, planned and worked his training regime and record breaking race down to the smallest detail.

Secondly, it was his ironclad belief that help push him through that tape at under 4 minutes.   

In my forthcoming book, Yes, Money Can Buy You Happiness, I go through my MONEY B.E.L.I.E.F SYSTEM in detail to help you build positive money beliefs. Here are the main points: 

B - Build your belief or portfolio 

E - Earn more than you spend (not spend less than you earn)

L - Learn - money education 

I -  Identify money mind blocks

E - Eliminate limiting beliefs

F - Find your passion and profit will find you – do something you love doing

We all have talents and knowledge, and something we enjoy doing. The trick is to turn your knowledge into something that can make you financially free and bring happiness. I will be covering some techniques to help you achieve this in my next episode of Money Tips Daily.

Check out my Podcast episode "Your MONEY B.E.L.I.E.F SYSTEM " on Anchor! https://anchor.fm/charles-kelly/episodes/Your-MONEY-B-E-L-I-E-F-SYSTEM-e15545

See also: 

Leverage Your Time and Build a Profitable Online Business - Free Book Offer

How to Monetise Your Knowledge and Skills and Turn Passion into Profits

New HMO Letting Rules Could Drive Landlords Out Of The Buy-To-Let Property Market

Financial Education is Your Key to Wealth and Success

NEVER Borrow Money on Expensive Credit Cards to Buy Depreciating Consumer Goods

How to Make Money Online Without a Website or Inventing Your Own Product

Model the Rich and Successful