Business & Finance
Exploring the Financial Impact on Women Investors: 6 Key Aspects to Consider on International Women’s Day
In a recent discussion about women’s participation in financial matters, experts highlighted various factors that can impact women’s involvement in money management. Shifali Satsangee, Founder & CEO of Funds Vedaa, pointed out that variables such as the woman’s background (tier 1/tier 2 city, conservative/modern household, working/non-working status) and family dynamics (nuclear/joint family, married/single) play a significant role in determining her engagement with finances.
To address the hesitancy of men in involving their spouses in financial discussions, Shaili Shah, CEO at Purva Investments, emphasized the importance of family participation in portfolio reviews and educational sessions. By encouraging family members to be part of financial discussions, Shah believes that positive changes can be seen over time.
Experts also discussed strategies to increase women’s participation in financial matters. Prathiba Girish, Founder of Finwise Personal Finance Solutions, emphasized the importance of information and creating a will for women to have better control over their finances. She stressed that having knowledge about investments, insurance policies, and advisors’ details is crucial for women to manage household finances effectively.
Additionally, Shaili Shah highlighted the significance of investor awareness programs in boosting female investors’ confidence and understanding. By prioritizing education and empowerment over product pushing, Shah noted a positive shift in mindset among female investors, leading to greater financial literacy and decision-making skills.
Tejal Gandhi, CEO & Founder of Money Matters India, discussed strategies to help women investors stay committed to systematic investment plans (SIPs) during market fluctuations. By focusing on long-term goals and implementing mid-term actionable strategies, Gandhi aims to help women investors navigate the investment landscape with confidence.
Furthermore, experts emphasized the importance of financial compatibility in relationships, with Bhuvanaa Shreeram suggesting exercises like the ‘Money Egg’ to deepen financial understanding between partners. Nita Shivdasani, Managing Director at Waterfield Advisors, emphasized the need for increased empowerment of women in financial matters, especially in ultra-HNI families.
In conclusion, while there has been progress in women’s participation in financial matters, there is still room for improvement. Experts highlighted the need for continued efforts to empower women to take control of their finances and make informed decisions.
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