Women empowerment starts with financial independence. Women want to take charge, but many navigate money with limited knowledge, support, or confidence. Gaining financial independence gives you the power to make confident financial decisions for yourself. Building multiple income streams and investing smartly can provide you with long-term stability.
Financial freedom is a right, every woman deserves access to education. Womoneysta is the right guide for uplifting your financial life. One woman can bring a lot of changes and inspire the whole community and become an inspiration. We surveyed 21 to 80 years of women to find out the money moves of women in India and received incredible results. Through smart money moves, women can take charge of their finances and break all the barriers in the way of wealth.
What The Survey Says About Women Empowerment
Investors And Savers
As per the survey, we got to know that 74% of the women are investors, 16% are savers, and 10% are none. It seems like piggy banks are out and portfolios are in. Where things got complicated were the investment part, most of the women are investing but are not aware of the right investment.
Impact Of Age On Investing
Things have been noted, and we got to know that 60% of women start investing in their 20s and 30s and the percentage increases by 80% with the age 40 to 50 years. With age comes wisdom and patience, the investment in a portfolio grows with time.
Impact of Income On Investing
Income plays a crucial role in investing. When women earn less than 50,000/- only 62% tend to invest their money, and the remaining 17% believe in saving. And amongst those who are Earning more than 50,000/- 80% invest and 7% don’t invest.
Impact Of Occupation On Investing
Women are learning the importance of investment irrespective of their career and field of work. Be it a CEO or a housewives women are investing, the only thing lacking is women empowerment, confidence and knowledge. Most of the women gave financial confidence a 3 out of 5.
Portfolio Mix
A good portfolio is made once you understand the importance of diversity in investing. As per the research and analysis, 68% to mutual funds, 43% to stocks, 47% to fixed deposits, 45% to gold and silver, and 30% to government schemes. This dividend makes a good portfolio.
Barrier to Investing
Women are investing, but they might not know the right type of investment with the right amount. Things that have become a barrier in the way of investment are a 40% lack of financial knowledge, 30.6% lack of extra funds, and 24.7% because investing feels complex. Women empowerment breaks all the barriers and makes you gain confidence.
Independent And Dependent Investing
In the survey, we found that only 40% of women are making their own independent decisions for investing. The other 31.8% rely on the decision of their spouse and the remaining 24% take advice from their parents. All the dependency is just because of the lack of financial knowledge.
Challenges In Finding A Financial Advisor
28.2% of women prefer DIY finance, 22.4% find the consultation fee very high, 22.8% struggle to find a reliable advisor, and 20% have trust issues. Cost, trust, and reliability are the major factors that make DIY finances most preferred by women.
Top Financial Goals
61.2% of women want to build wealth, 51.8% are investing to make a retirement plan, 48.2% want to travel and live a lavish life, and 38.8% are planning for their kids. This shows the responsibilities held by women in this field and makes investment important.
Conclusion
There is a lack of women’s empowerment and confidence in society. Womoneysta is your reliable guide, providing you with the best advice for investment depending on your income, age and occupation.
FAQ
1. Can we get personalized finance advice from womoneysta?
Ans. Yes, we provide personalized guidance depending on your financial situation.
2. What are the barriers women face in investing?
Ans. Things that have become a barrier in the way of investment are a 40% lack of financial knowledge, a 30.6% lack of extra funds, and a 24.7% lack because investing feels complex.
3. What is the impact of age on investing?
Ans. Only 60% of women start investing in their 20s and 30s and the percentage increases by 80% with the age 40 to 50 years. With age comes wisdom and patience, the investment in a portfolio grows with time.