By Lisa Pallavi Barbora
Mint, New Delhi
WWR Article Summary (tl;dr) When it comes to women and money, for many, there is still a sort of hesitation to plan and invest. Why is money such a taboo subject for women? Whether you work inside or outside the home, all women should build the ability to decipher basic financial matters so that they can support themselves and their family. The thought needs to move from “Yes, I want to or would like to”, to “I have to”.
Mint, New Delhi
Financial planning ought not to be gender specific. Yet, we hear and read a lot about women taking a back seat when it comes to this topic. Planners say it’s because of a combination of lack of interest, financial inertia and traditional role sharing (for married couples).
One of the basic issues is a bit of under-confidence among women when it comes to talking about financial matters.
In a study conducted by marketing research firm Kelton on behalf of Fidelity Investments in 2014, it was found that out of about 1,500 women who were surveyed, eight in 10 would refrain from discussing finances even with those they are close to.
The survey also found that less than half the women said that they were confident about discussing money and investing with a financial professional on their own.
This survey was conducted online and based on responses from women working (or retired) in the US. Indian planners whom Mint spoke to have supported these findings. Typically, the awareness about financial planning and its need comes about when you have a family (both for men and women) or when your income is high enough so that savings are more than what you can spend.
It’s never too early to know how to grow your money. But why the alleged apathy from women towards investing?