Abstract
Abstract. This study investigates Lithuanian females’ personal investment peculiarities in line with Australia’s case analysis and application as a good practice method. Based on many publicly available research females tend to have less knowledge about finances in general and particularly investment processes; hence, it leads to their lack of interest into investing and the possibility of poor money management. This issue might be solved by investigating why it appears first and adopting the practical example from countries with developed investment market. In the case of comparison of personal investment strategies among Lithuanian and Australian females the two sets of questionnaires have been used to collect the data for further analysis. The main findings revealed by the survey were, that women in Australia had a higher financial literacy level, invested more often, and chose broader variety of investment instruments compared to Lithuanian females. Moreover, the significant discovery of the article disclosed that Lithuanian females chose not to invest due to the lack of additional funds and the shortage of financial knowledge. The main limitation occurred during the research was the lack of the available data on personal investment topic in Lithuania’s official statistic sources such as The Lithuanian Department of Statistics. The results of the research contribute towards improving Lithuanian female personal finance and investment areas and could be applied to further studies or used for the education program dedicated to financial literacy among women in Lithuania creation. Furthermore, this article creates an original value to personal finance, investment, and financial literacy areas in Lithuania by introducing an idea to not only conduct more studies in these fields, but also to use comparative analysis and good practice method from the countries that demonstrates high achievements in personal finance and gender equality areas. Keywords: personal investment management, female investment, financial literacy, investor’s profile, investing, investment options, investment strategies. JEL Classification G51, G53 Formulas: 1; fig.: 5; tabl.: 1; bibl.: 15.
Highlights
Personal investment strategy creation is one of the most important personal finance topics discussed over the past years
The available statistics distinguish a couple of interesting facts about the investing processes and some of them being that residents of the well-developed and economically more robust countries tend to choose to invest as wealth accumulation more often, males being more active investors than females, the financial education level having the major impact regarding choices of investing and the age tendency to correlate with risk perception directly
The information has been introduced by Global Financial Literacy Survey [11] conducted in 2015 that 39 % of Lithuanians were indicated as financial literate; in contrast, Australia has been selected as one of the countries with the highest literacy rates globally, and its financially knowledgeable residents substituted for 64 % out of all Australians
Summary
Personal investment strategy creation is one of the most important personal finance topics discussed over the past years. Since social inequality is one of the critical issues in today’s world that must be addressed and the personal investment topic is vital, this paperwork aims to research, analyze, evaluate, and answer the main questions regarding female investors’ personal investment strategies in Lithuania and to compare them with Australian female investors This is crucial to distinguish the main differences to encourage Lithuanian females to invest and as a result to improve their financial understanding, knowledge of investment processes and overall wealth. The main reasons for not investing among Lithuanian females have been lack of knowledge about the subject 38 % out of all responders that answered they are not investing selected this option, but the most important impact to the choice has been made by lack of money as 43 % of females selected this as the main reason Overall, these survey results provide important insights into the comparative analysis of personal investment strategies among Australians and Lithuanian females. The most significant discovery established in this article was that Lithuanian females chose not to invest due to the lack of additional funds and the shortage of financial knowledge, such as understanding investing processes and investment tools
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