April 2023 Newsletter

Introduction

Financial Literacy Month

Welcome to the month of April which is recognized as Financial Literacy Month, the month with a nationwide effort to promote financial education and understanding. This month-long observance provides a platform to raise awareness about the importance of managing money, budgeting, saving, investing, and planning for a secure financial future. It is a time for organisations, schools, and communities to come together to offer educational resources and programs for women to improve their financial literacy. 

Financial literacy is key to achieving independence and success. Our newsletter is dedicated to educating, inspiring and empowering women to take control of their finances. From budgeting and saving to investing and career development, we’ll be covering all the topics you need to know to succeed financially. Join us in the journey towards financial freedom!

Motivation

How To Improve Your Financial Well-Being?

Here are some financial actions that you can take to improve your financial well-being:

1. Start budgeting: This is a crucial step in gaining control of your finances. Start by tracking your income and expenses and identifying areas where you can cut back.
2. Save regularly: Establish a savings habit by setting aside a portion of your income each month. Consider setting up automatic transfers to your savings account to make it easier.
3. Pay off debt: High-interest debt, such as credit card balances, can quickly eat away at your hard earned money. Make a plan to pay off your debts as soon as possible.
4. Invest in yourself: Consider investing in your education or professional development to increase your earning potential. 
5. Create a financial plan: Set specific, achievable financial goals and make a plan to achieve them. Consider working with a financial advisor to help you develop a comprehensive plan.
6. Build an emergency fund: Unexpected expenses can happen, so it’s important to have a financial cushion. Aim to build up an emergency fund with three to six months’ worth of living expenses.
7. Diversify your investments: Consider investing in a mix of stocks, bonds, and other assets to help mitigate risk.
8. Stay informed: Stay up to date on financial news and trends, and seek out educational resources to improve your financial literacy.

Remember, financial success takes time, patience and effort but taking small steps towards your financial goals can make a big impact over time.

Tips

Did you know that… Women are less likely to have access to financial education or have a financial advisor.

Women are often underrepresented in the financial industry and less likely to have access to financial education or have a financial advisor. This is a concerning issue as financial literacy is essential for making informed decisions and achieving financial goals. Without access to education and advice, women may be at a disadvantage when it comes to managing their finances. At Women Flix, we are committed to closing this gap and providing resources and tools to help women improve their financial literacy and access to financial advice.

Join our community, and start empowering yourself with the knowledge and resources you need to achieve your financial goals. 

Special Dates

April has several special dates dedicated to women and their contributions to society:

• 4th April: Equal Pay Day 
• 7th April: National Women’s Check-up Day 
• Second Week of April: National Women’s Health Week: 
• 16th April: National Women in Sports Day 

These special dates provide an opportunity to reflect on the progress that has been made toward gender equality and to recommit to promoting the rights and well-being of women and girls.

Breaking News

Gender Diversity = Better Financial Performance 

There is growing evidence that companies with more gender diversity, including having a higher percentage of women on their boards, tend to have better financial performance. Numerous studies have found a positive correlation between gender diversity in leadership positions and financial performance. For example, a study by McKinsey & Company found that companies in the top quartile for gender diversity on their executive teams were 21% more likely to have above-average profitability compared to those in the bottom quartile.

There are several reasons why gender diversity can improve financial performance. For one, companies with diverse leadership teams are better able to attract and retain top talent, which can lead to increased productivity and innovation. Additionally, having women in leadership positions can bring different perspectives and approaches to problem-solving, which can lead to better decision-making and improved business outcomes.

Of course, it's important to note that there is more to achieving financial success than simply increasing the number of women on a company's board or in leadership positions. However, promoting gender diversity in the workplace can be an important step in creating a culture of innovation, inclusiveness, and competitiveness that can drive business success.

Blog

This month we celebrate saving money by sharing with you our blog article called "The 6 JARS Money Management System Can Work Miracles For You!"

Basically, using this system, you split your money up into six different accounts, and you have percentages of your money to put into each account. You can use bank accounts or actual jars.

So what are these jars and what percentage of your income goes into them?

Let’s take a look… click here and read the full article. 

Women Flix Ltd

Empowering financial freedom for women worldwide 

Women Flix Limited, a company limited by guarantee, incorporated in England and Wales (company no. 13047578 ).