Shashikant conducted an experiment of her own to see how different psychologies governed investment decisions. She asked a group of people in their late 20s to list out their financial goals. Women typically listed – livings with their folks, lowering monthly expenditure and saving money on their marriage or dream home, as their goals. The interesting thing to note here is that they opted for debt instruments over equities. Men, on the other hand, chose independence, being an entrepreneur and investing in equities as their goals. This is one area where women and men can join forces to manage their household finances better. The right amalgamation of care and risk can harness merits of both, debt and equity and is worth the shot.

When it comes to India, there are many money-wise women who choose to obey the decision-makers, almost always male. This is not due to biology but societal norms, where men are considered more adept with finances. Even if they have good knowledge of finances, they choose to either – not participate in decision-making or start perceiving it as a tough call. This constricted thinking is another bane of our Indian society. As the current scenario is forcing people to accept financial independence of women, a revolution in this field cannot be far.