Working women or homemakers – Stock Market and investing is for all!

You may be a homemaker or a working professional, but where do you begin your investment journey? Here are 4 things to keep in mind.

August 17, 2020 9:01 IST | India Infoline News Service
For ages, men of the house handled finances, while women took care of the family. But over the past decade and so, the rise of equality has led women to take the reins, progress in positions of power.

Be it top executives in Fortune 500 firms or other corporations; women are leading the change!

Superwomen when it comes to savings

Let’s put it this way - Indian women have a hunger for saving money. Co-operative banks and small finances are a testimonial to the fact. Women, both working and homemakers, were traditionally thoughtful and highly scrutinizing when it comes to money, so much so that they were skeptical about making a strong play when it comes to stock markets.

But there has been a gradual mindset shift.

With women making their way up the ladder, they are up for a challenge - not just with their careers but with their lives too. Deccan Herald earlier this year reported that 68% of women are either managing their finances or having an equal say in the family’s financial decisions. While 70% of women were highly disciplined in saving money, 30% of them hedged their money in risk-investments like mutual funds.  Understanding the market pulse and looking at things as a long-term plan makes women more likely to crack complex market numbers than men. It comes from the firm belief that they not only want to earn as much as men but also want to make their money work as hard as they do.

Take a homemaker, for example. The stereotype of society is that women must stay home and take care of the family. Science says that women are more patient and risk-aware by nature, and are also more meticulous in planning. Adding this to the docket, homemakers, if taught the tricks of the trade right, make excellent investment bankers!

To save or to invest - that is the question

We said that women still save, and a small percentage of the lot hedge it at the stock market. The question is - to save money or invest it? When it comes to savings and investments, women tend to involuntarily select the former over the latter. While they do invest, it generally comes in the form of stable alternatives such as gold and silver.

It’s the gold they invest in that gives them the leverage to grab gold loans in times of need. So, women always invest with long term goals in mind. 77% of women say that they look at investments from the point of view of what it can do for their family.  The earning potential is higher on stock markets and mutual funds, but gold is gold. The long term benefits of gold outweigh the instant gratification of the stock market for women, thus leading them to make more savings than investments. Even millennial women, for that matter, look for long term independence and sustenance with their financials; with 52% of women saying they are confident in managing investments, making them better at it.

How to begin investing

You may be a homemaker or a working professional, but where do you begin your investment journey? Here are 4 things to keep in mind.
1. Educate yourself, it’s not rocket science!
It’s all numbers, yes, but it’s not that complex. All it takes is a few minutes every day to get a grasp of the daily news and market inputs. You could always rely on a trading advisor or investment keeper.

2. Plan it - a little investment planning helps you go a long way
Get yourself an investment advisor. You may be just starting out or a pro at it, but you need someone to tell you when to strike. From balancing your accounts to increasing your output, an investment accountant helps you get it all in line.

3. Insurance - long term plan and a safety measure
Do you know that you can get a loan by leveraging your policy, making it an emergency/contingency fund? Women may be on the higher life expectancy chart but are also susceptible to lifestyle diseases. Take it - you are independent!

4. Goal! Yes, set a goal and kick the ball
Growing investments need you to play a little soccer sometimes. It’s all in the strategy. Setting long term and short term goals is always helpful, and with money - even more. Take a SIP to fund your next vacation or a deposit to buy a new laptop. Goals help you understand how your money transacts and also keeps your spending in check.

Bottom line

Women are seizing the day, growing more robust and independent, financially too. With more working women taking control of their money, they make smart and impactful investment plans. Be it SIPs or gold, they can now make informed decisions about how they want their wealth to grow, leading to true independence! 

[2] https://www.bofaml.com/content/dam/boamlimages/documents/articles/ID18_0244/ml_womens_study.pdf
[3] https://www.bofaml.com/content/dam/boamlimages/documents/articles/ID18_0244/ml_womens_study.pdf

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