Woman's are Laxmi, They should also learn about Money

Generally, on an average, women live about a couple of years more than men. So in the older days of their lives, many of the women live alone for a few more years. Normally many of the women have relatively less knowledgeable about finance and investing, hence they face problems. So it's important that women should start learning about investing and participate in the family's financial planning process. There are some more reasons why, woman should know about investing and financial planning, like:

Lately we have seen that lot of women are becoming single mothers and without proper knowledge about money management they face financial difficulties. Women should learn about finance and investment so that they can address such issues.

We have seen various instances where after the sudden death of the husband, the lady has no idea about where and how her husband had invested. Hence women should insist on being part of the financial planning process for the family from the start so as to avoid such situations in future.

And yes, we all know that women are better savers then men, yet they don't invest properly. That is why they should learn to invest so that they can, on their own, create wealth in the long run.

Here are some easy steps which can be taken for starting the investments in a proper way.

1. Decide the purpose or goal of the investments, what for and how much you want to save.

2. Bifurcate the goals into short-term or for long-term goals

3. Look at your cash flows and the amount available for investments

3. Check your risk capacity (i.e. loss you can bear) so that proper investment instrument can be selected

4. Create an emergency fund and have Health Insurance

5. If you are a working woman and need to invest for tax saving purpose investing in ELSS scheme could be a good idea. You should also have Term Insurance if you are working woman.

6. If you don't have the knowledge it's always better take a guidance from the financial expert

7. Start saving in the different instruments available in the market based on expert’s advice and above mentioned parameters.

Many of the women are financially independent but still hesitate to take investment decisions on their own without their husband or father. However with little learning and guidance they can do better and be self-dependent with the matters related to money.