Experts say that women are better than men when it comes to savings. Women are more likely to excel in business than men because of their discipline, bold decision-making and risk aversion.
First Published Mar 7, 2023, 3:34 PM IST
In order to create wealth, one must have the habit of saving. Not just saving, the money saved should be invested with discipline to create wealth. According to famous investor Warren Buffett – ‘Don’t save what’s left after spending, instead spend what’s left after saving.’ So, to invest, one must first save. Most women have a natural tendency to save, while most men generally fall into the spending category. So, good saving habit is more common among women than men. The money saved should be invested for long term in a good way to create wealth. Women can save more money than men because of their disciplined approach. According to TradeSmart CEO Vikas Singhania, women are better investors than men. Five characteristics related to it are mentioned.
Women are number one savers When it comes to investing, women are more cautious with money than men. Men are more prone to other infections. Especially cigarettes, alcohol and gambling habits are more common among men. Hence the risk of overspending is higher, and when it comes to women, women are better at saving than men. Women think more for their children. That is why they are interested in hiding money.
Don’t take risk.. Women are inherently risk averse. That is why women are more interested in investing in risk-free gold. Gold has historically been a favorite investment vehicle for women. Women are assured that gold will support them in difficult times.
discipline Women are more disciplined than men. Women stick to their rules. Businesses like trading require discipline. Therefore, women are apt to put money in investment instruments like mutual funds.
Women are experts at multitasking Women are good at multi-tasking. From managing the household to holding a full-time job simultaneously, women demonstrate their versatility in multi-tasking.
Mental strength Women have stronger mental powers than men. They think wisely in times of calamity. Try to solve the problem. No room for disappointment. They possess all the qualities required to be a successful trader or investor.
