Education and Awareness:

Education is the most basic necessity for everyone. Many companies offer jobs based on the applicant’s education. If we take a close look at working women in metros who take active role in making financial decisions, they mostly have a good educational background.

According to Shiny Sebastian, managing director, Affluenz Financial Services, a Kochi-based financial planning firm, “When we work with families, we try to include the wives. Women are open about family finances and even get the children to talk.”

Changing Mindset:

Initially when women started making financial decisions, it had become very difficult for the men to trust on their advice. Now, the mindset of many Indian men has changed as most of the women are working and have proved to take up better financial decisions than men.

Kothari said, “Women earn money independently but often give all of it up to their husbands. It’s important for them to also create a basket of savings and investments in their own name to cater for contingencies if the husband is not around in the future.”

Mint Money

According to many financial planners, women’s approach towards investment is commonly stable and usually a long-term approach. Most of the women are practical in their approach and is ready to give up their short-term goals for long-term plans.

Women tend to make holistic approach and place their children’s education ahead of their own goals. Once, they understand the advantages of long-term investment, they hardly bother about short-tem plans.

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