Women will learn how to turn dimes into dollars at a workshop tailored to female spending habits.

Angela Joell, an education and investment manager, said the session will equip people with the tools needed to make their money work, regardless of earnings.

She added, the presentation at the Women’s Resource Centre next week was designed to help change mindsets so that any income can yield returns.

Ms Joell said: “It’s all about moving to wealth, understanding money so that your money works for you.

“In reality you have a lot of people who make money, but that doesn’t mean that they have financial stability or sustainability at all.

“It’s a global reality that lack of financial sustainability is a crisis.

“You have money today, but will you be able to afford to live when you retire on the funds that you have put aside?”

Ms Joell, who works in Argus Wealth Management’s life and pensions section, said men and women often had different approaches to saving and spending.

She explained: “Men generally are satisfied to take higher risk and play the markets more, they will track the markets, sell when the markets are high; there may be more interest in hedging or checking the latest stock.

“Men are more competitive by nature, research has shown this to be the case, so women tend to be more strategic.

“They will research something, they will take a position and they understand that the markets will move up and down, and they will leave it and let it ride out.

“They will get there at the end of the day, but they’re less likely to move their funds.”

Ms Joell added: “When I’m speaking to women, I need to speak their language to hold their attention.”

She said the Understanding Money workshop on March 13 will encourage women to consider their “financial personality” and how that affected them.

Ms Joell explained: “The true road to wealth is not external, it’s internal. The wealthiest people are the people who think about money from the inside out.

“You could get lots of money, but your wealth isn’t dependent on what you receive; your wealth is dependent on what you do with it.

“That first step is the mindshift to say, let’s look at this differently. It’s not how much you make, it’s how much you can keep.

“What you keep becomes a source of passive income, it starts to pay you back.”

She said the session, which will be held at the WRC on the second floor of Sofia House, on Hamilton’s Church Street, from 5.30pm until 7.30pm, was aimed at people with all levels of income and would also help women who struggled with debt.

Ms Joell added: “They will leave with a formula. I will be demonstrating how to apply this formula to any income.”

She said women have become “more empowered”, which resulted in changed relationships with money and finance.

However, she said many had missed out on the education needed to best manage their affairs, adding: “There are many women who will tell you they learnt from the school of hard knocks.”

Elaine Butterfield, the WRC executive director, said: “This is a not-to-be missed workshop for women, no matter where they are in their finances, particularly during these current economically challenging times.

“We are inviting every woman who wants to learn more about how to make your money work for you now and in the future, no matter how much money you earn or don’t earn, to attend this workshop. We encourage mothers to bring daughters as well, for a head start on understanding finances.”