8th March 2011 marks the 100th anniversary of the International Women’s Day. Here’s wishing all my fellow beautiful and amazing sisters a Happy Women’s Day! On this special day, take some time to celebrate our accomplishments and honor ourselves for being the beautiful, loving, smart and capable woman we all are.
Among the achievements that Singaporean women can be proud of is the rising financial literacy and awareness of the importance of personal finance management. A recent survey by MasterCard Worldwide Index of Financial Literacy found Singaporean women to rank highly in terms of basic money management and financial planning compared to their Asian Pacific peers, scoring 70 and 80.4 respectively (out of 100)
When it comes to basic money management, 71 per cent of the Singaporean women surveyed said that they do not have problems staying on top of their bills and credit commitments.
At the same time, nine in 10 believe they “should have three to six months of cash savings to meet their emergency needs, such as illness or job losses”.
However when it comes to investing, Singaporen women scored only 51.5 (out of 100) in investment skills and knowledge, below the average 56.7 in Asia Pacific region.
So why this disparity? Being educated and financially independent women who are perfectly capable of mastering their personal and even family finance and budgeting, why do many feel inadequate and not confident about their ability to make investing decision?
Women are perfectly capable of becoming savvy investors, if they choose to and take the necessary steps to do so. Here’s how..