Traditionally women have been excluded from long-term financial decisions, which have unfortunately left them with little financial confidence upon the death of spouse or in the event of divorce. EasyEquities are making it their mission to counteract this problem by sending R50 vouchers to their existing female users to pass along to another woman in their life who they feel could use some assistance in starting their own investing journey.
Carly Barnes, brand manager of EasyEquities, expressed that her current mission is to increase investing awareness amongst females. She said,” Currently women make up about 25 - 30% of our user database, which is the same as or slightly above the industry average but still low considering that women make up 50% of the population.”
She added, “The voucher is a way to encourage the women who have already found the confidence to take the first step in their investing journey, to pay it forward. If we can come together as women and inspire each other to learn and grow financially, we’ll be building a nation of strong, confident and informed women who are able to save for their future (and their families).”
So what is EasyEquities? They are an online platform that allows you to invest in brands for as little as R10. Aside from being easy to use, users pay only 64cents for every R100 that is invested and there are no brokerage fees. Barnes included, “When you open an account you also automatically get a Tax Free Savings Account opened for you, this is an awesome savings vehicle which allows you to invest in exchange traded funds without paying tax on interest earned, dividends or capital gains.”
How to invest and build your confidence
Barnes voiced how she relates to those who view this journey as daunting step,” Before I signed up with EasyEquities, the idea of investing was very intimidating; I assumed I would have to wade through tons of jargon. The idea of not understanding where my money was going was scary. But once I explored the website a bit and was able to easily educate myself on the basics, I felt brave enough to just start. And I’ve never looked back. I want to pay this feeling, and the financial benefits it comes with, forward. “
She advised the following:
- Get your head around the basics – Understanding how to invest doesn’t require a degree, all you need are the right tools and information available. Barnes advised, “We have a bunch of resources on our website that can help with this (my favorite are the YouTube video which give a nice sum up in a short time).”
- Get started – You need as little as R10 to invest with; you don’t have to stress about parting with a fortune of funds. Barnes added, “You’d easily spend that on parking tickets in a day. Just give it a go so you can start building your confidence.”
- Invest in the brands you know and love - Put your investment towards brands that you trust and are happy to give a chunk of your salary to. So think about where you shop, who your mobile carrier is, and where your medical aid goes to every month.
- If you’re still stuck – If you’re still unsure of what to do, EasyEquities have a share basket option which is collection of shares picked and weighted by an asset manager or personality.
Alternatively, current female users could cash in on the voucher for the personal use; however this would defeat the purpose of voucher.
Barnes concluded, “As women, I’d like to think we all want to help and empower and support other women in our lives to gain financial self-esteem and grow their wealth. Let’s spread the love and grow the local economy at the same time.”
Barnes has been gracious enough to extend this campaign to all our female readers who aren’t yet EasyEquities users. If you would like to start your investing journey, email Barnes at firstname.lastname@example.org and she will see that you get your R50 voucher (valid for one year) which can be activated once you sign up.
Handy Tip: For tips about how to become financially independent, click here.