Ladies, Are you planning your money properly?

Financial planning and investments for women

To be self-dependent a woman should be confident during making investments. Investing for all women cannot be in the same way. A divorced or widowed woman with a kid and a single woman must not make similar investments. A woman in her 20’s take a risk or make mistakes which is unaffordable for a woman who is in her 40’s. While thinking of making investments one should always consider starting earlier.

How should women who are young & single take financial management?

A woman being single in the twenties is very different from a woman being single in the forties. When a woman is building her career it becomes imperative to make investments. At this point, a woman should also set some goals for the short and long term and start investing in such instruments which allows achieving both the short and long term goals without the need of borrowing than it is necessary.

For the goals for the long term, women can think of investing in EMEFs or equity mutual funds through a Systematic Investment Plan. For the short term, FD’s, debt funds, Fixed Maturity Plans are perfect.

How should those who are married & working take financial management?

For a woman who is managing a house, managing children and also is employed in a job or pursuing a business making financial decisions as well as keeping a track of the investments is of extreme importance.

In most cases, it is seen that the husbands play the role of primary investors. At this phase, planning for a child’s education, retirement, child marriage are some of the basic responsibilities that one start investing in. At this phase, one should purchase a proper insurance plan and also invest in mutual funds that work well. 

For retirement,  one can start to invest in  Public Provident Fund & National Pension Scheme.

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