Women – Be Financially Smart
Hey! Can you hear us?
Women are break-in stereotypes on all fronts! Still, you need to manage the finances.
It’s not necessary that we should make a mistake every time just to learn an important life lesson. We can always be smart enough to learn from other mistakes. Personal finance is one of the areas where learning from others either prevent us from making a mistake or not invest at all.
Learning financial elements early in life is always important, especially for young women, who, ought to earn their living, but at the end, leave rest of the money to their partner. This scenario has turned out to be pricey in many cases. It’s time to follow some financial lessons:
- Family Fund: We always see women as the prime care-givers to their family and it is their strength. But, sometimes care and love is not enough, you need another weapon to fight over tough times. To the rescue, a ‘Family Fund’ will act as a finance sword to support you and your family in bad times. You don’t have to be the winner or the one responsible for every penny in this fund. Even if you initiate a bit towards family expenses regularly, maintaining this fund won’t be a burden. There are many women who have surprised their closed ones by pitching in financially during hard times.
- No Compromise Fund: A free suggestion given to women ‘you have to compromise’. You too might have been shot this same question numerous times, still continues, Right? But, if you really want this to end from your life, a healthy bank balance will save you, thus helping you in making tough decisions. How about buying mutual funds online? Anyways, back to the grind, a ‘No Compromise Fund’ should be there; it allows you to say NO for any compromising situations and help you to take necessary leaps, such as: moving to cities, getting out of any forced relationship, or switching jobs.
Just curious- What do you think about Direct Mutual Funds that may act as a ‘No Compromise Fund’? It can give you good returns as compared to your savings account/fixed deposit account.
- For Your Goals: Sometimes we get caught in the daily doze that we often forget about our ambitious and dreams. We even curb our needs to indulge at the point of discomfort. Right? Having a goal fund will allow to keep ambitious alive and help in saving for unaware indulgences. Be it purchasing a luxury item, starting a business, or any holiday – A goal fund has got you covered. Save at-least 10% of your salary; you can also do cash windfalls just to give it a boost. Well, your dream fund is getting bigger, you can invest your money in mutual funds via SIP, but if you need to know how to select mutual funds, hop on to Gulaq.
Also, what are your opinions about saving?
Are you saving enough money to make you fight in tough decisions?
Think and Decide!
Disclaimer: Mutual fund Investments are subject to market risks. Please read the scheme documents carefully before investing.