Entrepreneur behind SkilledSmart: These are the five money mistakes every woman makes

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Concentrating on saving instead of investing, letting your partner do it all and being afraid of learning about money are three of the five mistakes women make with their money, a money expert has claimed.
Concentrating on saving instead of investing, letting your partner do it all and being afraid of learning about money are three of the top five mistakes women make with their money, a money expert has claimed.

Paridhi Jain, from Sydney, is the founder of the independent financial education platform SkilledSmart, which aims to help adults learn to save and invest their money wisely.

Over the years she has been running the business, Paridhi and her team have collectively helped their students to create over $1million dollars in personal wealth with their Mastering Money program.

She has also had the chance to observe how and why women spend, save and invest their cash.

'Having supported hundreds of women in turning around their financial lives, I see some really common but easily avoided mistakes that often cost women a lot of money,' Paridhi told FEMAIL.

Concentrating on saving instead of investing and letting your partner do it all are two of the most common money mistakes, Paridhi (pictured) has revealed

The first mistake Paridhi said she sees from all too many women is focusing on saving, rather than investing your hard-earned cash (stock image)

MISTAKE ONE: FOCUSING ON SAVING, NOT INVESTING

The first mistake Paridhi said she sees from all too many women is focusing on saving, rather than investing your hard-earned cash.

'Although this is changing, traditionally a lot of the financial information targeting women has focused on topics like budgeting, saving and bargain hunting,' Paridhi told Daily Mail Australia.

'Meanwhile, financial information targeting men focuses a lot more on wealth building (topics like investing and entrepreneurship).'

The result of this is that the entrepreneur sees thousands of women spend 'all their energy' perfecting their budget and trying to save as much as possible.

And while this is a good habit to practice, there is a 'floor' to how much you can cut costs.

'At the end of the day, it does cost money to live, and you…
Sophie Haslett, By Sophie Haslett For Daily Mail Australia
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