”Never limit yourself because of others’ limited imagination; never limit others because of your own limited imagination.” Mae Carol Jemison, an American engineer, physician and NASA astronaut.
NOW HEAR THIS
We hope you're all doing okay - to the extent that is possible in such circumstances - following yesterday's terrible events in London. As devastating and tragic things have been, we must carry on with our work and our mission. Here is our update for the week:
Oh, and in celebration of International Women’s Day, Growth Street featured Vestpod Founder, Emilie, as one of the amazing women in the finance industry. Emilie talked to Growth Street about her experience in Private Equity, Vestpod’s powerful mission and how to encourage women to look after their personal finances. Not a bad week for press!
THE LOW DOWN
Financially Independent Women
Have you ever encountered condescending remarks about how terrible women apparently are at managing their finances? Don’t you just hate those? So do we, and so does Barbara Stewart, CFA, currency expert, former portfolio manager and the brains behind the highly recommended reading report on How Smart Women are Managing their Money in 2017.
Last week, we told you about how hedge funds run by women outperform those run by their male counterparts. Not only are we smashing glass ceilings professionally, but we’re also doing pretty damn well in the personal finances front. Stewart’s research confirms that women are very aware of a) the financial opportunities available, and b) the consequences of financial behaviors and decisions.
It’s not just smart, MBA educated women that are doing well with managing their money, it’s all kinds of women, from all walks of life - regardless of age, cultural background and profession. What we do often lack is specific information about money and investing - also known as a ‘financial knowledge gap’, aka - the reason Vestpod exists. Despite said knowledge gap, women come face to face with managing their money on a daily basis, and are wiser at making informed financial decisions than stereotypes may suggest.
Some key points to note from Stewart’s seven year long studies on the subject: all the women she interviewed have great respect for their financial independence, and have a very clear understanding of what they need and why. Women, and millennials in particular, are more committed to social value investing and have happily embraced mobile banking and financial management platforms. Stewart also found that some women are very structured and rigorous in their approach to personal finance, whilst others are happy to outsource to trusted financial advisers. Whatever the style of financial management, women have a high level of awareness of what they’re doing with their money.
All this may not come as a surprise to you, but it’s important, stereotype-breaking stuff, which leads us to the conclusion that we’re completely and totally capable of being financially empowered - all we’re lacking is the tools.
What did you think about Barbara Stewart’s report? Did you recognise yourself in any of the women she interviewed? We want your answers! E-mail us with your thoughts, pretty please!
OFF TO YOU
A snappy end of tax year checklist
The end of tax year is just ‘round the bend - April 5th, to be precise - but if you’re quick, you can still make the most of your tax allowances and maximise your savings. Effective tax planning can save you thousands, but only if you time your investments and sell-offs correctly.
You may want to speak to a financial adviser, but since time is fast running out and they’re likely to be busy with existing clients, we thought we’d help you out by compiling a tax year end checklist.
Do you have any concerns relating to the end of the tax-year? Get in touch!
THE BIGGER PICTURE
Showing inflation who’s boss
Inflation. Ick. Even the word has a nasty sort of ring to it, and, we’re sorry to say - it’s back with a vengeance. UK inflation jumped to 2.3% in February, driving the consumer prices index to the highest level in almost three and a half years. On top of it all, we’re seeing record-low interest rates on savings, which paints a pretty bleak overall picture. Can anything be done to beat inflation and its unpleasant effects on investments and finances? With a healthy dose of financial wisdom and professional advice from the experts, we hope to tackle this beast together. If you need a refresher on what inflation means, take a look here.
We spoke to Sophie-Jane K, Partner of St James’s Place Wealth Management Group about inflation and how one should go about fighting it. The main takeaway points of her inflation-busting wisdom are: 1) inflation is coming back because of the fall in the value of sterling and the turbulent political climate, 2) inflation negatively impacts your cash savings due to low interest rates, thus decreasing your purchasing power over time and 3) you’re better off investing the money you don’t need in the short-term. You can read the full article on Vestpod.
As always, we ask for a teeny bit of your support which comes in the form of filling out a super quick survey. We really appreciate your answers!
Do you feel like you’ve made the most of this year’s tax year allowances??
*|SURVEY: I have no idea!|*
Got any burning questions? Need to get some financial woes off your chest? Get in touch! We’re here to listen with no judgments, and help where we can.
Thanks for your time, and see you next week!
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We are not certified financial advisers! The articles and information made available on Vestpod are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances. Read our Disclaimer here.