Today you can learn more about the awesome company Female Invest. Female Invest is the largest online learning platform for personal finance and investing targeting women. The company was founded by 3 women from Denmark and they are on a mission to close the financial gender gap! 🙌✨
In my studies as a Holistic Health coach, we have the concept of primary and secondary food. Secondary food meaning the food you eat and primary food meaning the things that nourishes you on another level, like fx; your career, relationships, how you exercise and your personal finances. All these things also affect your health and well-being, and especially such a thing as having difficult financial situation can really affect your mental health and well-being. This is one of the reasons why I LOVE what Female Invest is doing – they are on a mission to empower more women in area of personal finance.
I personally heard about this company through a colleague of mine, and because my boyfriend has also started getting into investing, I really wanted to learn more about it. So when the lockdown situation came around, and my work closed down in the meantime, it was the perfect opportunity to spend this extra time to learn more about investing, and I decided to get a membership at Female Invest in order to do so.
So I’m very happy to share today’s interview with you, as I hope it can inspire more women to become more financially independent and start to learn about investing as well!
Thank you for participating in this interview, first of all can you explain what Female Invest is?
Female Invest is the largest online learning platform for personal finance and investing targeting women. We aim to be a one-stop shop, where women can get all the information they need to make solid financial decisions.
There are so many myths about investing for example that it’s super complicated and that it requires a lot of both money and time. We want to show women that that’s not the case at all. Investing is actually very easy and it can be super fun and exciting ones you get started.
As a member of Female Invest you get access to all our webinars, videos and articles, as well as the cheapest transaction costs on the investing platform called Nordnet. Even if you’re a complete beginner with no prior background or interest in finance – we will hold your hand and guide you through everything you need to know.
“Even if you’re a complete beginner with no prior background or interest in finance – we will hold your hand and guide you through everything you need to know”
What is your mission?
Even though there is so much societal focus on gender equality there is not a single country in the world where men and women are financially equal. Women earn less, they save less and they typically don’t invest their money. This problem is estimated to cost women in Western countries more than $1 million over the course of their careers. Financial inequality has devastating consequences for women around the world, preventing them from making independent decisions. Our mission in Female Invest is therefore very simple – we want to close the financial gender gap! And we want to do this by empowering women to be the boss of their own money.
“Our mission in Female Invest is therefore very simple – we want to close the financial gender gap! And we want to do this by empowering women to be the boss of their own money”
Who is behind the company & How did you come up with the idea for it?
The company is owned and run by Emma Bitz, Camilla Falkenberg and Anna Hartvigsen. We all wanted to get started investing when we were in our early twenties, but really struggled to get the information in a way that was simple and easy to understand. When we met whilst studying at Copenhagen Business School, we had all gotten started, but felt there wasn’t really a community or space for women with that interest and thats how the idea for Female Invest was born.
What are your own personal backgrounds & when did you girls start to get into investing yourself?
We have all studied at CBS and have different backgrounds within finance. Emma worked as a stock broker in a bank, Camilla worked in commodity trading and Anna worked with attracting female talent in a bank.
What is your number 1 financial advice for women?
Start by getting started! The first thing we recommend is that you go through your bank statements from the last 3-6 months and create an overview of how much money you have earned and how much you have spent. Then make a budget. This is important because a budget is the difference between actively deciding where your money goes and wondering where it went.
We like the 50/30/20 method, which is a simple framework rather than strict rules.
It means that 50% of your pay check should go to needs. This includes bills, groceries, transportation, housing, minimum debt payments, work clothes, and things that you have to pay for.
30% of your pay check should go to fun – because you have to have fun. You don’t need rooftop mojitos, a Netflix subscription or a trip to London… but it’s fun and it’s not realistic or sustainable to have a super strict budget that allows no room for the little joys in life.
The last 20% of your take home pay should go to Future You. The three things in this buck are: debt payments above the minimum, savings for your emergency account and investing.
Can you recommend any good books for women who wants to get more into financial empowerment and investing?
Of course we recommend our own 😉 “Klar, Parat, Invester”
If those reading along wants to learn more about Female Invest or wants to support you in any kind of way, how and where can they do so?
Thank you so much for the work that you do in the world, I’m sure you’ll help to change the financial situation and empower so many women through your work. And thank you so much for participating in this interview and for answering my questions!
I’ve teamed up with Female Invest and if you want to get into financing and investing, then you can get 50% off on a yearly membership if you use this link! ✨