Women in India are increasingly recognising the importance of saving and investing for their financial security and independence. Here are some ways in which they are saving and investing. Overall, women in India are increasingly taking charge of their financial futures by saving and investing in a variety of instruments tailored to their goals and risk appetites. Indian women employ diverse strategies to save throughout the year, ranging from Mutual Fund SIPs and bank Fixed Deposits (FDs), to gold to secure their children’s education.
How are women in India saving and investing?
With the rise in financial literacy, there has been a 42% rise in female investors, who now save 5% more than their male counterparts. “I have gone through a similar transformation – transitioning from investing in traditional avenues like LIC policies and real estate to embracing riskier yet calculated ventures, such as investing in stocks and then adopting a balanced approach with SIPs and mutual funds. This evolution actually reflects a broader trend among Indian women, who are increasingly engaging in a blend of traditional and modern investment strategies,” said Harsha Solanki, VP GM Asia, Infobip
Another key trend that has emerged is the growing emphasis on securing financial stability during the post-retirement phase. Notably, nearly 31% of women are prioritising this aspect. Personally, I’ve invested in the National Pension Scheme (NPS). It gives me a sense of assurance and confidence about my post-retirement life, said Solanki.
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“Women focus more towards secure investments and focus on their retirement corpus and children’s education, their preference for gold and fixed deposits reign supreme and save 5% more than men on their future goals,” said Rashi Agarwal, Co-Founder & CBO, Zypp Electric.
Whether it’s through prudent budgeting, exploring mutual funds, or actively participating in the stock market, women are asserting their financial independence and making significant strides toward securing their future, added Rashi Agarwal.
By taking control of our finances, we not only secure our futures but also become role models, inspiring the next generation of women to be financially empowered and independent. This Women’s Day, let’s celebrate the resilience and foresight of Indian women who are not only shaping their financial destinies but also steering India towards a cleaner, greener future through their investments and entrepreneurial endeavours._
Disclaimer: The views and recommendations made above are those of individual analysts, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Published: 08 Mar 2024, 08:26 AM IST