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Financial Advice for Women

Why Women with Money Can Create a Better World

It’s time to break down our biases.

Much of the research around how and why women feel the way they do about money management isn’t surprising to us women. According to statistics, 81% of women said they’ve personally been a victim of negative stereotypes – including about their investing abilities. And while this is extremely sad, it’s not surprising to most. I, too, have experienced this firsthand on more occasions than I care to remember, even though I am a finance professional with the experience and qualifications to back it up. 

I remember how every conversation was directed at my husband when I was talking to banks and brokers about obtaining a mortgage. I’d ask a question, and the broker or advisor would proceed to answer it looking at my husband as if he’d asked. As a regional head of finance who was responsible for billions of dollars in company revenues, you’d think I’d be taken seriously – and that’s notwithstanding the fact that the mortgage application was 100% based on my salary and would be my liability! It felt like my gender was overshadowing my financial credentials and my experience. Of course, as a woman, I can’t possibly be the decision-maker or capable of understanding a complex mortgage agreement, right? Wrong.

So much of that bias is unconscious, and it’s present in both men and women. We, as women, often display this bias against ourselves. We believe the stereotype that women are simply not good at managing money – that we cannot control our spending and we’re not good at investing. This idea is widespread and spread across cultures, geographies, and generations. When it comes to money, there is often a canyon of space between our mindsets and money-belief systems. But why is it this way? Thankfully, there is much research on this topic and I’m going to discuss some key facts here. 

How Are Men and Women Different? 

Women are socialised to save money, keep it safe, and not be greedy. Our male counterparts, on the other hand, are socialised to invest, seek out ways to earn as much as possible, and be proud of their financial achievements. For men, earning vast amounts of money is seen as powerful and impressive.  Because of this, women tend to hold 71% of their assets in cash and shy away from sharing what they earn or have. Men, on the other hand, hold 60% of their assets in cash and are more likely to boast about promotions and what they earn.

What I hadn’t considered before was our tendency to use our money to benefit everyone except ourselves. Studies have shown women use money to create a lifestyle in the present. We do that by buying the groceries, making 70% of travel decisions, and organising the day-to-day lives of our families. This is a different spending perspective from the stereotypical one portrayed by the media, where women spend all their money shopping and even need to be given tips to stop or reduce.

On the other hand, we are less likely to plan for retirement, buy life insurance, or be involved in arranging mortgages. In contrast, men use money to create a secure future. They take on the role of decision-maker in significant and long-term financial decisions. Ironically, we women tend to live longer than men and, yet, we are leaving our retirement security in the hands of people we are likely to outlive.

Financial Wellness

Why Do Women Feel Less Financially Confident?  

Money is genderless, and it’s as much of a tool for women as it is for men. So why do we feel so differently about it? This is where it gets particularly frustrating. The divide in money isn’t just about gender pay gaps, there is also a worrying gap in how men and women are spoken to about money. Men are taught the benefits of investing, blockchain, and NFTs, while women are told to stop drinking artisanal coffee so they can save for a pair of designer shoes. 

A study carried out by Starling Bank in 2018 found that 90% of articles targeted at females focus on small ways to save money. 71% encourage seeking out vouchers, discounts, and coupons to save money. 65% define women as excessive spenders, urging us to limit, restrict, and better control our ‘splurges’. Our male counterparts, on the other hand, are targeted with articles about the importance of making big investments, how to mitigate investment risks, and how money can enhance one’s status as a man. Furthermore, 50% focused on how to protect themselves from future harm, including financial harm from divorce. Is it any wonder that arguments over money are consistently reported as the number one cause of divorce?

Why Is It Good to Get More Money into Our Hands?

As women, we use our money to help others. Women invest 90% of their income back into their families, while men only reinvest 44%. When I first came across this, it surprised me, but when I sat back and thought about it, it all made sense. When my mother spoke to me about money, it’s clear now that she assumed my income would be used to pay for my family’s needs. She also urged me to always keep enough aside just in case – which I did, but I too had unconsciously internalised her assumption. My income went back to my family and, for years, I didn’t invest or think long-term either. It was a real wake-up call. 

Despite how the media portrays us, we are more financially responsible than men. When we do invest, we are more likely to invest long-term, we are more patient, and we achieve better returns. Studies show women are more likely to invest in ESG and sustainability, so we use our money to invest responsibly and do good for the planet. We use our money to help our families and our communities, so communities thrive when women make more financial decisions. We currently control over $31.8 trillion in worldwide spending – imagine the positive change we can create with that level of wealth if we felt empowered to use it in line with our values and help others?

Female Empowerment

What Can You Do to Feel More Financially Confident? 

Put yourself on the path to financial wellness by taking small actions that you can do now. What’s most important when you begin is clarity. It means knowing how much money you have, and then creating a plan for where you want your money to go. Ensure the cash flow plan is in line with your values, not what others or the media tell you it should be. Set financial goals that are true to you and then build your budget to achieve those goals. Make peace with your money situation and forgive any past mistakes – every human makes money mistakes. 

If you’d like to know more about financial wellness, get your free copy of my Conscious Finance Coaching Financial Wellness Checklist here.

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Must Haves For A Memorable Summer

Summer Made Better!

Summer is here, and it’s time to enjoy the sunshine and warmth with your loved ones. Whether you are planning an overseas vacation or spending quality time with your family at home, here are a few essentials to make your summer season comfortable and memorable. So, sit back, relax, and let us introduce you to some of our favourite products to help you beat the heat and stay fresh all summer long.

Summer Essential Oils

Summer is just around the corner, and these essential oils are a great addition to your collection. Definitely the must-haves for the season!

RUT ESSENTIALS

Neroli Essential Oil

AED 125.00

RUT ESSENTIALS

Ylang Ylang Essential Oil

AED 70.00

RUT ESSENTIALS

Tea Tree Essential Oil

AED 55.00

Neroli Essential Oil: With its refreshing and floral aroma, Neroli is perfect for summertime. It can help uplift your mood and relieve stress after a long day, making it an excellent addition to your diffuser or bath routine. You can also add a few drops to your skincare products multiply the benefits.

Ylang Ylang Essential Oil: Ylang Ylang is another must-have essential oil for the summer season. Its sensual and calming properties can help you relax and unwind, making it ideal for aromatherapy and massage. You can also add it to your hair and skincare routine for added nourishment.

Tea Tree Essential Oil: Tea Tree is a versatile essential oil that can be used all year round, but it’s particularly useful during the summer season. It has powerful cleansing properties that can help keep your skin and scalp healthy and clear. You can also place a few drops in your diffuser to create a refreshing and energizing atmosphere that fills your space.

Connect & Reset

MIRA VISION

Male Vision Board Kit

AED 230.00

MIRA VISION

Female Vision Board Kit

AED 230.00

Summer is a time to connect with oneself and embrace the energies of nature. The MIRA Vision Board Kit is a perfect addition to your summer essentials. This vision board kit comes in customised versions for both women and men and helps you visualise and manifest your dream life. As you enjoy the warmth of the summer sun, take some time to focus on your goals and aspirations and use the MIRA Vision Board Kit to create a picture-perfect vision. This tool will give you clarity and help you stay focused on your intentions as you move forward toward achieving your dreams. So, add this Vision Board Kit to your summer must-have essentials and watch your dreams come to life.

Travel Buddies

SIRONA

Travel Hygiene Kit

AED 30.00

GYPSY ROSE HOLISTIC

Jet Lag Essential Oil Mist

AED 95.00

POPMASK

Jet Setter Eye Mask

AED 100.00

Summer is all about exploring and travelling to new places. The Travel Hygiene Kit is a must-have for anyone on the go. This travel kit has everything you need for your next adventure, from feminine pain relief patches and mosquito-repellent patches to intimate wipes and underarm sweat pads. Additionally, the Pee Buddy device is a game-changer (literally!) for women who want to stand and pee like men, making it easy to travel to places where washrooms are not easily accessible. The kit is compact, easy to carry, and ensures you stay fresh and hygienic throughout your travels.

The Jet Lag Essential Oil Mist is a blend of organic essential oils that relieves fatigue and brain fog caused by jet lag. It encourages relaxation, and restful sleep, and promotes emotions of grounding and tranquillity. All the oils are non-GMO, paraben-free, artificial fragrance-free, and GC/MS tested for purity and potency.

The Jet Setter Eye Mask is the ultimate summer must-have essential for all travellers and go-getters. The jasmine-scented mask provides a warming and relaxing sensation that soothes tired eyes, allowing you to unwind, meditate or just unplug from life. It’s perfect for those who need some well-deserved downtime.

Cooling Must Haves

SIRONA

Under Arm Sweat Pads

AED 40.00

C&S ACTIVE

Cross Back Crop Top

AED 180.00

MOTION TRADING

Moonstone Bracelet

AED 350.00

Sweating is a common problem during summer, and it can be embarrassing to be caught with yellow stains on your clothes. Sirona’s No Stain Underarm Sweat Pads are a summer essential that can save you from the embarrassment of sweat stains. These disposable pads are easy to use and can be placed on the inside of your garment to prevent sweat stains. Made with non-woven, dust-free paper, and self-adhesive, these sweat pads are allergy-certified, cruelty-free, non-toxic, and vegan. These pads maintain freshness all day long and have high perspiration absorption, making them a must-have for summer.

Summer fashion is all about comfort and style, and the Cross Back Crop Top is a fashionable addition to this summer’s must-have list. Its nylon and spandex blend makes it stretchable, quick-drying, and perfect for summer weather. Additionally, the crop top’s crossed-back straps give a beautiful silhouette, making it suitable for both studio and party wear. It’s light-to-medium support and removable cups give the wearer flexible options to dress up or down. The added features of Anti-UV and Anti-Static make it a perfect choice for outdoor activities during summer.

The Moonstone Bracelet is an excellent way to stay cool from the inside out during even the hottest summer days. Moonstone is known to provide a sense of calm and balance. Whether you’re exploring new places or just trying to get through a particularly hot day, this bracelet can help you stay calm, collected and cool whilst enabling grounding and focused vibes. It’s made from genuine moonstone in a rare large bead size that is 14mm in radius. Plus, its stylish design means it can easily be incorporated into any summer outfit.

Hydrate & Energise

NAMASTEA

Pretty Berry Tea

AED 20.00

X50

Green Tea Passionfruit

AED 145.00

NAMASTEA

Double Walled Glass

AED 38.00

If you enjoy tea, then the Pretty Berry Tea is a refreshing and energizing blend of black tea, strawberries, and flowers that serves you better as a summer beverage. Its moderate caffeine content and mildly sweet flavour make it an ideal beverage to boost your energy levels during the hot summer months. The safflower oil in the Pretty Berry blend is known to enhance skin and is packed with antioxidants, making it a fantastic product with benefits from the inside out. Additionally, when combined with rose petals, it helps improve your skin’s appearance. It’s exotic floral taste and health benefits make it a great addition to your post-lunch or early-evening routine.

Looking for a refreshing and energising beverage for the summer? Then the X50 Green Tea Passionfruit is your go-to drink to beat the summer heat. It tastes superbly of exotic passionfruit, contains antioxidants that can help boost your metabolism and promote healthy, glowing skin. With its sugar-free and gluten-free formula, X50 Green Tea is a guilt-free choice for anyone looking to stay healthy and hydrated during the summer months. Simply add a sachet of X50 Green Tea to your water bottle, shaker, or smoothie for a delicious and refreshing drink that will keep you feeling energized and cool all summer long.

As the temperatures start to rise this summer, keeping your drinks cool is essential. That’s where the Double Wall Glass Cup comes in. Made with borosilicate glass, it’s resistant to high temperatures and can withstand rapid temperature changes. Its double-walled design not only keeps your drinks cool for longer but also prevents condensation from forming on the outside. Whether you’re sipping on iced tea, lemonade, or any other cold beverage, this cup is a must-have for a refreshing summer drink.

Summer season is around the corner and with that you need a few essential products to help you stay fresh and cool. Each product on this list serves a unique purpose, making your summer season more enjoyable. Whether you’re travelling or staying indoors, these must-have products will help you beat the heat and make your summer season memorable.

The Gaggler team is passionate about finding and sharing great products with our readers. We take pride in researching and testing products to find the best of the best, and we only recommend things that we love and think you will, too.

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