As we approach the end of 2020, many of us are eager to set New Year’s resolutions – like exercising 3 times a week, drinking 8 glasses of water each day, or reading a new book a month.
We all know how it ends. By the end of January, most of us are back to our old routines and we feel guilty and disappointed by not being able to stick to our new ways.
I like the idea of setting intentions rather than pass-or-fail resolutions. By setting intentions you allow yourself to be present, stop judging yourself, stop looking for perfection, and accept everything as a practice.
So, I’m all for setting intentions for 2021 – such as supporting women-owned businesses and getting started investing.
Support Women-Owned Businesses
Today’s entrepreneur is a woman. There are 12.3 million women-owned businesses in the US generating $1.8 trillion a year. However, women receive just 7% of the venture funds for startups.
Redirecting money into women’s hands isn’t just about balancing the scales of power. According to the International Monetary Fund, with greater gender equity comes greater prosperity for all. The better off women are, the better off the world is.
If you are interested in supporting women-owned businesses, please check out the following resources.
Dough is a marketplace that lets you shop from women-owned brands. When you shop on Dough, you also have the opportunity to shop by your values and support underrepresented communities. 90% of brands on Dough encompass a value — from Eco-Friendly to Not on Amazon — and 50% are helmed by a woman of color.
Oya is the first mobile app to find women-owned businesses near you that provide a variety of services, from retail sales to financial planning.
Get rewarded for your support and unlock special offers, discounts, and get access to member’s only content and exclusive events.
Get Started Investing
There may be lots of reasons why you keep hitting the snooze button on starting to invest.
You might feel like you don’t make enough money to invest, or you feel overwhelmed and don’t know which investments to consider.
You might be lost in all the industry jargon and don’t have enough time to figure it all out.
Or maybe your husband (financial advisor, etc.) handles all the money for you, so why even bother?
I’ll tell you why – $100 a day. $4 an hour. $3,000 a month. That’s how much you could miss out on by waiting to invest, according to Ellevest.
All of the circumstances that were holding you back don’t matter. You are here now! You are ready to learn.
I’m telling you right now, you have enough income, brains, and time to figure it all out.
Besides, study after study proves that women make better investors than men. Read this to give yourself a boost of confidence – “5 Reasons Why Women Make Better Investors Than Men”.
There are only a few fundamental principles you need to understand to be a long-term successful investor. To help you navigate the murky waters of investing we’ve created The Ultimate Guide to Investing – you can download your copy here.
This guide covers:
1.Why putting your hard-earned cash into a savings account is not all that “safe” over the long-term. Yes, investing is risky, but so is avoiding it.
2.5 golden rules of investing – timeless fundamental investment principles
3.Investing vocabulary in plain English – Stop feeling intimidated and confused by the financial services industry jargon. Find basic investing terms explained in simple terms.
There are many investment platforms out there, but there is only one that’s designed by women for women – Ellevest.
Here is why Ellevest has my stamp of approval:
Designed for women
Ellevest was designed with women in mind. The company focuses its investment advice on the needs of women and takes into account issues such as the wage gap, different lifetime earnings curve, longer career breaks, and greater financial needs in retirement.
Ellevest offers its clients the option to invest in Impact Portfolios made up of companies that promote the advancement of women and do business in a socially and environmentally responsible way with high governance standards.
Ellevest’s primary focus is helping you attain your investing goals. But unlike its competitors, it also lets you invest for shorter-term goals such as starting a business, saving for a home down payment or child-related expenses, creating an emergency fund.
Ellevest Money Membership comes with the ability to purchase discounted one-on-one access to Certified Financial Planners and executive coaching from the company’s career team, which can help women with financial issues like salary negotiations and career transitions. Non-members can also purchase sessions without the discount.
Click here to learn more about Ellevest money membership.
The bigger picture
There you have it, girl. Set your intentions for 2021 to start investing and support other women’s businesses. Let’s lift each other up, express our gratitude, and show some grace. Here’s to your most financially powerful year yet!
Ellevest, investing, new year's intentions, women-owned businesses