Ninety percent of women report feeling insecure when it came to personal finance and 48% of women agree with the statement, Investing is scary for me. These statistics highlight the need for financial advisors working with women to foster financial confidence in their clients as part of the client engagement.
Financial confidence is a mix of basic financial know-how, a can-do attitude, and a belief in ones worth. It does not equate to making perfect decisions about money or always selecting the right investment. Financial confidence has more to do with trusting yourself to take some risks and knowing that you will mess up from time to time. It is learning what information you need to consider when making a financial decision and also how your personal values and money beliefs impact your choices. Financial confidence is not correlated with the amount of money you have, but with the comfort level you have in knowing you are doing your best every day to manage your finances.
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