In celebration of Women’s Day, I thought I would put down 10 investment tips I wish I had been given when I turned 23 years old and first started working.
Investment tips for women from Sygnia CEO Magda Wierzycka, a South African billionaire businesswoman. She is the co-founder and CEO of Sygnia Ltd, a financial services company. She is also the richest woman in South Africa.
1. Never depend on a man for your financial well-being
Being financially independent matters a lot in today’s world of relationship uncertainty. To reach that goal you need to start saving early and arm yourself with some financial knowledge.
2. Save for specific financial goals
Having enough money to educate your children, saving up for a rainy day or being able to buy a flat are more meaningful than outperforming the competition. Segment your savings into pots and never be tempted to dip into them.
3. Start saving early in life
My rule of thumb has been to save 20% of my monthly income from the first day I started working. I trained myself to think about my income as being 80% of what I was actually earning. Out of sight, out of mind.
www.fin24.com
Read More
0 comments:
Join the Conversation