Grow your purse: the importance of investing

By Dikonelo Mile

They say if you empower a woman, you empower a nation.

This month, we'll be talking about how women can empower themselves by growing their investments. If you're looking for financial goals, perhaps exploring different investments can be on the list.

South Africa’s household saving rate, which according to Trade Economics slumped from 0.40% to 0.20% in the third quarter of 2018, can give us women encouragement to build the right foundations for ourselves and our communities.

So what will it take to save and invest?

Financial Jargon is often to blame for the lack of interest in the world of investing, after all, the mind does not like what it does not understand.

However, technology and social media has made life much easier. We now have blogs and applications that break down all the financial terms and what different asset classes mean.

Put in simpler terms, an investment is a financial vehicle that gets you from point A to point B.

Over the years there have been thousands of investments established. Here are some of the investments you might be interested in:

  • Real Estate

  • Paper Assets (Stocks, Bonds, Options)

  • Building a Profitable Business

  • Venture Capital

  • Banking Products( Fixed Deposits and Tax Free Investments)

In order to invest, you must determine how much money you are starting with (capital), much risk you're willing to take (risk appetite) and how much time you are going to invest for you.

Ensure that the institutions you are investing with are legitimate and registered with the Financial Sector Conduct Authority, if they are based or operating in South African. Remember when you start early, you have more time to experiment and see what works for you.

This is your life, this is your finances. Create the life that you want.

This article is for educational purposes and does not constitute financial advice. Dikonelo Mile writes in her personal capacity. Contact her |0614937069

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