TomorrowMakers

CRISIL and DBS Bank recently conducted a survey that revealed the saving and financial planning preferences of Indian women. The survey pointed out that women prioritise retirement planning and children’s education and invest in avenues that carry low risks.

Retirement and Children’s Education

DBS Bank and CRISIL, two of the leading financial institutions, recently conducted a study to understand the saving and investment behaviour of Indian women. The survey, titled ‘Women and Finance’, considered various parameters to understand the financial behaviour among women.

These factors included the following –

  • Income

  • Age

  • Dependents

  • Marital status

  • Location of home

Based on these factors, the survey presented how Indian women saved and which goals they prioritised. Let’s check what the survey stated.

  • DCB Bank and CRISIL conducted a study called ‘Women and Finance’ on women’s financial behaviour

  • The survey revealed that 47% of women in metros make their own financial decisions

  • 51% of women preferred fixed deposits over other avenues

  • Preference is given to retirement planning and children’s education for savings

Survey Findings

  • 47% of women living in metros make their own financial decisions.

  • 98% of women take active participation in long-term family decisions.

  • Most women over 45 years of age are the main decision-makers in their families. Such women prioritise planning for retirement and children’s education when investing.

  • 51% of women chose fixed deposits as their preferred mode of investment.

  • Most of the surveyed women preferred low-risk avenues to invest their savings. Their decisions were influenced by the number of dependents. The higher the number, the more conservative the investment approach.

  • When it comes to loans, home loans are popular among Indian women.

  • Digital payments are a popular choice, as 33% of women aged 25-35 years and 22% over 45 prefer UPI payments.

Analysing the survey

The survey underlines the financial preference for women and their emergence as decision-makers in their family’s finances. Earlier, women were not a part of the traditional financial landscape because –

  • Lack of financial literacy

  • Low awareness

  • Limited knowledge

However, women are becoming more independent and autonomous in the changing world.

Also Read – Investment strategies that men can learn from women 

The survey also revealed that women’s financial decisions depend on their age. While women between 25 and 35 years of age prioritise buying or upgrading a house, those in the 35-45 age bracket prefer to plan for their children’s education, and some of them also give importance to retirement planning. Those who are 45+ prefer saving for medical emergencies.

Click here to read the latest articles on Investing

The Bottom Line

With more awareness, Indian women are now well-equipped to handle their finances more effectively. While it is encouraging that Indian women are becoming financially empowered, there’s still a long way to go.

Also Read – 5 Smart ways to grow your portfolio

DBS Bank and CRISIL, two of the leading financial institutions, recently conducted a study to understand the saving and investment behaviour of Indian women. The survey, titled ‘Women and Finance’, considered various parameters to understand the financial behaviour among women.

These factors included the following –

  • Income

  • Age

  • Dependents

  • Marital status

  • Location of home

Based on these factors, the survey presented how Indian women saved and which goals they prioritised. Let’s check what the survey stated.

  • DCB Bank and CRISIL conducted a study called ‘Women and Finance’ on women’s financial behaviour

  • The survey revealed that 47% of women in metros make their own financial decisions

  • 51% of women preferred fixed deposits over other avenues

  • Preference is given to retirement planning and children’s education for savings

Survey Findings

  • 47% of women living in metros make their own financial decisions.

  • 98% of women take active participation in long-term family decisions.

  • Most women over 45 years of age are the main decision-makers in their families. Such women prioritise planning for retirement and children’s education when investing.

  • 51% of women chose fixed deposits as their preferred mode of investment.

  • Most of the surveyed women preferred low-risk avenues to invest their savings. Their decisions were influenced by the number of dependents. The higher the number, the more conservative the investment approach.

  • When it comes to loans, home loans are popular among Indian women.

  • Digital payments are a popular choice, as 33% of women aged 25-35 years and 22% over 45 prefer UPI payments.

Analysing the survey

The survey underlines the financial preference for women and their emergence as decision-makers in their family’s finances. Earlier, women were not a part of the traditional financial landscape because –

  • Lack of financial literacy

  • Low awareness

  • Limited knowledge

However, women are becoming more independent and autonomous in the changing world.

Also Read – Investment strategies that men can learn from women 

The survey also revealed that women’s financial decisions depend on their age. While women between 25 and 35 years of age prioritise buying or upgrading a house, those in the 35-45 age bracket prefer to plan for their children’s education, and some of them also give importance to retirement planning. Those who are 45+ prefer saving for medical emergencies.

Click here to read the latest articles on Investing

The Bottom Line

With more awareness, Indian women are now well-equipped to handle their finances more effectively. While it is encouraging that Indian women are becoming financially empowered, there’s still a long way to go.

Also Read – 5 Smart ways to grow your portfolio