| Topic : Women And Money : Take Charge Of Your Finances |
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Young Managers |
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Branch Managers in Private Banks |
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last activity : 03 28 2011 05:31:12 +0000
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Woman & Investments
This title may sounds clichéd, but it is so. For generations women have been homebodies. They were caretakers with providing food, taking care of the family and looking after their well-being. Women provided necessary bonding, caring, nourishing to home. Women made home out of house. Now in modern times the women is essentially a home maker not only a care taker .The current women- home maker is expected to do lot of things other than cooking, rearing kids, taking care all family members. In the modern times she is expected to even become a bread winner of the family-along with the men of the family. For all this now modern-woman is multitasking.
Traditionally the bread winner was the male head of the family, who was either a father or husband in some case father-in -law .But now with the nuclear family,migration of families to new places for career opportunities ,new paradim shifts have led to women not only taking care of home but they also have to take care of finances. So it has always been assumed that only men are interested in making money and not women. Also one more wrong assumption is that, the men know finance very well while women do not.
Though one assumption which is right is that, when it comes to money, women are not very cautious while spending and but very cautious& conservative while investing.
A survey by a reputed Indian research company found that unlike men, a large percentage of women are unwilling to take any risks with their money. Even very highly literate women do not venture into any kind of money management decision or investing decision, more so because of lack of practical financial knowledge than any thing else. Women hence often leave it to husband, father ,brother or a professional to look after their earned or saved money.In some cases women ,let their hard earned money lie deposited in bank and getting nothing but interest, paying tax on that interest and letting inflation eat the savings year after year.But all this has been changing and also needs to change. Women must understand practical finance.women must have relevant financial knowledge.
Why women need to understand Money business of finance?
1. Women needs financial stability and bigger money egg nest, since generally they live longer then men.
2. Non working women need investments ,since they will not get any pension, as question retirement does not arise. So in old age they may have to depend financially on their children,in worst case relatives for their well being .
3. Working women though may get pension, but to retain comfortable life style should invest in high-growth financial instruments.
A famous women writer is claimed to have said that "I hated going to C.A for purpose of income tax filing returns .Since i was very weak at " hisab" and frankly did not understand anything about money management.But finally I woke of one day and decided that ,it cannot be that tedious..And at least as literate and modern women I must understand practical finances."
But woman who want to be financially health has to go ahead a nd get the knowledge of practical finance by drawing on systematic,Chronoligical , knowledgeable, informative guide on money management, investments and different asset class.
By Suchita Ambardekar
http://www.suchitaambardekar.blogspot.com
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yes, this is the right time to buy copper, but do so with stop loss in case one takes a trade in MCX.. In case of investments and physical delivery in copper, this is the right time to buy copper and may add more on more weakness. |
Thanks all of you for such nice comments.. |
How to create a proper portfolio with judicious asset allocation and add timely sector plays? |