Women and Financial Planning

In our Indian culture women is the symbol of four devi`s..

First Parvati- Parvati is the symbol of emotions - We always share, care and nurture. Our greatest ability is getting everyone together and we know how to sacrifice for the common good!

Second Sarsvati is the symbol of Knowledge- we can cook up a batch of cookies, we work outside the home, we manage, we plan and we execute.

Third is devi Durga- Durga is a symbol of shakti. We have a multi task ability. We balance the spheres of the world and the home. 

Fourth one is devi Laxmi – godess of wealth –our finances - A simple housewife , from any strata of society, can manage her household in whatever budget she has.

These are the four qualities in us- are the pillars of our life

women have inherently  good in managing their money. Yet, many women, including working women prefer to depend upon  their father, husband, brother or son when it comes to managing their long term finances. Actually, no other person than us will exactly know what are our dreams. TO achieve these dreams it is very important for us to take an active interest in our own finances.

If I earn 1 rupee- I  should save atleast 30 paisa .  but when I invest this 30 paise regularly  in to wealth creating assets, then my  money will work for me. So put your finances amongst your priorities and get involved in long term aspect of financial decisions and planning.

The following are the few simple measures that everyone could take to plan their finances for a secure future.

• Starting early and saving regularly is the key to wealth creation.
• It is the rhythm and not necessarily rate of return that gets you desired money.
• Having a household budget is very important. One should increase the amount of savings as income goes up.
• Insurance planning is very important. But, mixing insurance product with investment is a slow infection to our finances. Our strong recommendation to our investor is to take a pure policies for life or Health.
• Asset allocation impacts your wealth the most, at all times.
• Spend whatever is left after your investment.                                     Income-investment = expenses
• A goal without a plan is just a wish, so plan, invest and  achieve your goals.

FINANZINDIA