Top tips for financial planning for women & their loved ones
- 23 September 2024
- 3 mins reading time
The gender wealth gap is a deeply rooted societal issue, but taking proactive steps can help you feel more comfortable in your financial situation. Here are three tips to get you started on the path to better financial planning.
1. Engage with a financial adviser
A qualified financial adviser can help you navigate complex financial decisions, set clear goals and develop a tailored plan to potentially achieve them. Even if discussing money feels uncomfortable, a good adviser will guide you through the process, helping you feel more confident in communicating your financial goals and making the necessary adjustments aiming to keep you on track to achieve your goals.
2. Normalise financial conversations
Make financial discussions a regular part of family life. Talk openly about your plans, needs and financial goals with your loved ones, and include children in these conversations in an age-appropriate way. Encourage curiosity and use available resources, like financial tools and advice from reputable financial institutions, to help you better understand your options and aim to keep everyone informed. Schroders Personal Wealth offers a range of resources to help you get started.
There are no hidden fees or charges, and you’ll only pay if you choose to go ahead with the recommendations in your personalised financial plan.
3. Take action
It’s often easy to put off financial planning, but procrastination could lead to increased financial stress over time. Start by reviewing your financial situation and taking small steps towards improving it. Remember, a proactive approach not only helps boosts your financial confidence but could also contribute to your overall wellbeing, creating a positive cycle that may mean financial decision-making gets easier with time.
Important information
This article is for information purposes only. It is not intended as advice.
Fees and charges apply at SPW. Any views expressed are our in-house views as at the time of publishing. This content may not be used, copied, quoted, circulated or otherwise disclosed (in whole or in part) without prior written consent.
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