In a world facing multiple crisis that are putting immense pressure on communities, achieving gender equality is more vital than ever.
Ensuring women’s and girls’ rights across all aspects of life is the only way to secure prosperous and just economies, and a healthy planet for future generations.
One of the key challenges in achieving gender equality by 2030 is an alarming lack of financing with a staggering $360 billion annual deficit in spending on gender-equality measures.
As the world celebrates women on the International Women’s Day, an annual United Nations campaign to publicise efforts to create gender equality worldwide, this year’s version has been celebrated on March 8, 2024 with the theme ‘Invest in women: Accelerate progress’.
Afrinvest Limited stated that, “as we celebrate International Women’s Day, we would like to remind every woman about the importance of knowing their worth and understanding their value.
“Regardless of what society throws at you, never doubt your ability to build wealth and become financially independent. You have the power to make wise financial and investing decisions, and you should use it to your advantage.”
The firm highlighted steps for women to consider when it comes to investing and building wealth.
These steps include:
Set Clear Financial Goals: Establish your financial objectives first, whether they be reaching other milestones, purchasing a home, saving for retirement, or paying for your children’s school. Having well-defined goals will facilitate the development of your investing plan and decision-making approach.
Educate Yourself: Spend some time learning the fundamentals of investing, such as the various asset classes, risk tolerance, and investment approaches. Numerous tools are at your disposal to enhance your expertise and self-assurance as an investor, such as books, webinars, workshops, and financial counsellors, of course, like Dear Vee. You know I am always here to guide you.
Diversify Your Portfolio: The secret to minimizing risk and optimizing returns is diversification. Invest in a variety of asset classes, including fixed-income products like the FGN Savings Bond, commercial papers, stocks, and alternative assets, to lessen the impact that market changes will have on your portfolio.
Stay Disciplined: Stick to your investment strategy and fight the urge to make impulsive decisions based on short-term market fluctuations or emotional reactions. Achieving long-term investment success requires discipline and staying invested despite market fluctuations.
Overall, mastering the art of saving, investing, and managing finances wisely is the cornerstone of wealth-building. Financial literacy empowers women to make informed decisions, ensuring their economic well-being and the potential to leave a legacy for future generations.
Also, women are among the most vulnerable groups in Nigeria. With so many odds stacked against them, women must arm themselves with the right knowledge in their journey out of cycles of financial instability.
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