- Date : 03/09/2023
- Read: 3 mins
Few women in India make their own financial decisions. Here are some women’s financial planning tips that aim to change this metric.
Research reveals that merely one in five investors in India are women, underscoring a gender disparity in financial participation. This shows that to this day, women do not enjoy the same economic independence as men. Despite approximately 90% of Indian women actively contributing to household finances, a substantial 67% continues to rely on male family members for key financial verdicts.
To bridge this gap, here are essential financial planning tips for women and savings strategies designed to empower their financial autonomy and reshape financial decision-making.
Highlights:
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Women becoming financially independent contributes to the nation’s economy.
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Almost 50% of working women are exposed to financial planning tips through social media, news, or professional workshops, but only 33% feel confident in making their own financial decisions.
-
Becoming financially independent by breaking down traditional barriers is the need of the hour.
-
Nearly one-fourth of working women want to start their own businesses and take control of their own lives.
Also Read: Ever wonder why women make smart investors? Here's what you need to know
Women's financial planning tips
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Planning: Investing does not merely mean putting money into asset classes. It also requires you to invest time. Taking out time from your busy schedule to learn the basics of financial planning is important. A well-thought-out plan that aligns with your life goals makes sure you don’t have to remain solely dependent on your spouse or other family members.
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Procuring: Given the intimidating nature of the stock market, it's crucial to grasp its dynamics before venturing into it. Whether you are looking to invest in options, real estate, gold, or other commodities, it's imperative to be financially aware.
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Protecting: As women, we often compromise due to our social responsibilities. Family, children, and other such commitments can often become an obstacle to financial independence. Always try to protect your autonomy and your assets. Stay ever-vigilant and wary of any decision that may threaten either.
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Professional Help: Independence and empowerment do not imply you must do everything on your own. Thus, feel free to seek professional help whenever needed. Tata, Fullerton, and Lendingkart are just a few of the many companies that provide special benefits for women.
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Privacy: While you may share a family, your personal savings account doesn't have to be shared. Setting aside a portion of your income privately can enhance your financial management.
Let's sum up
As women, responsibilities come our way, both by choice and circumstance. Remembering these women's financial planning tips can guide you through this challenging journey, while also empowering you to make sound financial decisions to shape a secure future.
Click here for the latest articles on financial planning.
Also Read: Financial tips that will help young women earners plan their finances
Research reveals that merely one in five investors in India are women, underscoring a gender disparity in financial participation. This shows that to this day, women do not enjoy the same economic independence as men. Despite approximately 90% of Indian women actively contributing to household finances, a substantial 67% continues to rely on male family members for key financial verdicts.
To bridge this gap, here are essential financial planning tips for women and savings strategies designed to empower their financial autonomy and reshape financial decision-making.
Highlights:
-
Women becoming financially independent contributes to the nation’s economy.
-
Almost 50% of working women are exposed to financial planning tips through social media, news, or professional workshops, but only 33% feel confident in making their own financial decisions.
-
Becoming financially independent by breaking down traditional barriers is the need of the hour.
-
Nearly one-fourth of working women want to start their own businesses and take control of their own lives.
Also Read: Ever wonder why women make smart investors? Here's what you need to know
Women's financial planning tips
-
Planning: Investing does not merely mean putting money into asset classes. It also requires you to invest time. Taking out time from your busy schedule to learn the basics of financial planning is important. A well-thought-out plan that aligns with your life goals makes sure you don’t have to remain solely dependent on your spouse or other family members.
-
Procuring: Given the intimidating nature of the stock market, it's crucial to grasp its dynamics before venturing into it. Whether you are looking to invest in options, real estate, gold, or other commodities, it's imperative to be financially aware.
-
Protecting: As women, we often compromise due to our social responsibilities. Family, children, and other such commitments can often become an obstacle to financial independence. Always try to protect your autonomy and your assets. Stay ever-vigilant and wary of any decision that may threaten either.
-
Professional Help: Independence and empowerment do not imply you must do everything on your own. Thus, feel free to seek professional help whenever needed. Tata, Fullerton, and Lendingkart are just a few of the many companies that provide special benefits for women.
-
Privacy: While you may share a family, your personal savings account doesn't have to be shared. Setting aside a portion of your income privately can enhance your financial management.
Let's sum up
As women, responsibilities come our way, both by choice and circumstance. Remembering these women's financial planning tips can guide you through this challenging journey, while also empowering you to make sound financial decisions to shape a secure future.
Click here for the latest articles on financial planning.
Also Read: Financial tips that will help young women earners plan their finances
