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  • What can we learn from female breadwinners?

    Four things that female breadwinners can teach us about managing our finances.

    Last Updated: 1 January 2003

    Female breadwinners are on the rise, with around a quarter of women outearning their partner. This bodes well for their finances. Because research shows they’re more knowledgeable, engaged and confident about their finances in general – and investing in particular.

    It means that regardless of who earns the most, we can learn a lot from female breadwinners.

    In this article we explore four things female breadwinners can teach us about our finances, but it is not personal financial advice. If you’re not sure if a course of action is right for you, ask for financial advice. Please note that investments fall as well as rise in value, so you could get back less than you invest.

    Lesson one - decision-making

    Did you know that 67% of female breadwinners say they’re personally responsible for saving and investing within their household?

    Regardless of if you’re a breadwinner or not, it’s key that we’re all engaged with financial decisions that affect us. If you tend to allocate money matters to your partner, a bereavement or divorce could leave you high and dry.

    Even if you’re together for life, you’re basing financial decisions on your partner’s priorities, which may not be right for you. This isn’t a matter of whose money you’re making decisions with, it’s about your own financial future.

    Discover 5 ways to help your finances thrive

    Lesson two - confidence

    Some of the reason female breadwinners are more engaged with investing will be similar to the qualities that led them to become a breadwinner.

    Two thirds of female breadwinners feel financially confident – compared to just over half of those who are the second earner. They’re also twice as likely to be comfortable taking risks, and much more secure in their level of knowledge.

    The confidence gap can be difficult to cross, but one of the most effective ways is just to get started with a small, regular monthly investment, and build your confidence and knowledge while you go. If you’re putting in as little as £25 a month, the stakes aren’t so high, so the fear of making a mistake is less overwhelming. Just make sure to have any emergency savings in place before taking the plunge.

    Why not try our regular investing calculator to see how this small sum will build up over time?

    Use calculator

    Lesson three – role models

    A female breadwinner’s background will play a part in her familiarity with investments. They’re more likely to say they discussed investing with friends and family growing up, and that their family educated them about investments.

    It's never too late to learn, so we can overcome this by finding people to be our financial role models today. It might be your partner, friends, relatives – or even a Financially Fearless ambassador.

    Once you start to talk about investing, you’ll discover those in your lives who have a real interest in it. In return, we can also be an investment role model for our children. By being at the helm of their Junior ISA, we can show them the value of long-term investment, and by talking to them about it, we can build their familiarity.

    Remember, the value of tax savings depends on individual circumstances and tax rules can change over time.

    Find out why you should invest for a child

    Lesson four – curiosity

    Some of female breadwinners’ interest in investing will also come down to the fact that they have more money personally, so they may feel more empowered to put it to work.

    If you earn less, there’s even more reason to make sure you keep more of what you earn, so it’s worth learning as much as you can and taking control of your finances.

    Learn from female investors

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    Financially Fearless is the first step in empowering women to improve their financial health and wealth. Take your first step today and sign up for weekly emails packed full of expert content using the form below. Or if you’re on Instagram follow us @FinanciallyFearless_hl.

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