Financier Jordan Cracknell’s Top 7 ‘Girl Math’ Investment Ideas for Women
Financier Jordan Cracknell, 39, was born and raised in New York City before relocating to London during her career. After excelling in the high-stakes environment of Wall Street, she is committed to empowering women and young girls in finance by making a financial career path more accessible. She now leads the UK division of Integrated Worldwide Solutions (IWS) and advocates for more women to develop investment portfolios as part of personal finance planning. Here, she provides her take on why ‘Girl Math’ should extend to investment ideas.
Get comfortable with money and ask for a pay rise
Women need to improve their confidence with money in daily life. Historically, women have been underpaid compared to men. We often hesitate to ask for a pay rise, unlike men who typically don’t think twice. Before you walk into that room, it’s crucial to know your worth and be prepared to discuss it with your employer. Do market research via websites such as LinkedIn or CareerBuilder to understand the typical salary for your role and experience level. Practice your negotiation skills with a friend or mentor and build a strong case for why you deserve a raise. It may seem scary to ask for more money, but when you do it, you’ll realise it’s not actually scary at all.
Open a savings account and save regularly
Many banks offer a basic savings account which are easy to open if you don’t have one. Start small by saving as little as £10 (or whatever you are comfortable with, it can be increased over time) a week towards a specific goal, such as an emergency fund. It all adds up. Create a household spending budget, and keep to it. Include a ‘fun’ fund for small indulgences. This makes budgeting more enjoyable and you’ll be more likely to adopt new financial habits. This will help to improve your relationship with money and financial management.
Do your research
Learning about the stock market can seem challenging at first. When you open a brokerage account, many places such as E*Trade, etc. offer access to their equity research. If you don’t have one open, websites such as seekingalpha.com and Yahoo Finance offer ways to stay informed on the latest investment news. For US listed firms, EDGAR offers a free way to look up a public company’s historical financials. Knowledge is power, and being well-informed will help you make better investment decisions.
Play the long game
Established companies are a great starting point for the stock market. Life can often be based around instant rewards, however adopting a long-term investment perspective helps you plan for the future and reduces the stress of short-term market fluctuations.
Consider index funds
Index funds are investment funds that follow a benchmark index, such as the FTSE100 in the UK or other global indices. In simple terms, it’s like investing in a basket of stocks that try to copy the ups and downs of the overall market. When investing in an index fund, you are essentially buying a small piece of many different companies all at once, which helps reduce the risk associated with investing in individual stocks. Index funds are popular because they are easy to manage and often have lower fees.
Automate your savings and investments
Set up automatic transfers to your savings and investment accounts. By doing this, you ensure that you’re consistently saving and investing without having to think about it. This habit can significantly contribute to your long-term financial goals.
Keep learning
Stay curious – attend workshops, read books, follow financial news, and join online communities of like-minded women such as WIBF (Women in Banking and Finance). The more you know, the more empowered you’ll feel in making smart financial decisions for our generation and the next.
