Women's Day 2019 special: How Women can become more confident while Investing?

International Women’s Day 2019 falls tomorrow i.e. 8th March 2019, and as we celebrate 110th anniversary of women’s rights and empowerment, we must agree that women have come a long way in the past one century.

Having said that, women still have a whole journey to conquer when it comes to the right to plan her finances herself. (Getty images)

Women's Day 2019 special: International Women’s Day 2019 falls tomorrow i.e. 8^th March 2019, and as we celebrate 110^th anniversary of women’s rights and empowerment, we must agree that women have come a long way in the past one century. Having said that, women still have a whole journey to conquer when it comes to the right to plan her finances herself. Cited as the homemaker in Indian Households, a woman largely plans the day to day petty expenses, be it buying grocery, vegetables, and other items of daily needs. The shopping carts too are governed by women of the family and so do gifting whether cash or kind. Traditionally in India, the women largely took upon the responsibility to save money from the monthly budgets, the money could be used for buying gold, or used to be kept as a contingency reserve. However, the same person who is often titled the finance minister or chief financial officer of the house, takes a backseat when planning investments, especially in the money markets. It won’t be wrong to say that women are often unconfident of investing in mutual funds, stock market, and various other modern-day investment instruments that may seem complex to a traditional and risk-averse investor. Though a handful of women have plunged into the male stronghold of stock markets, but the number is nowhere close to boast about. Here are five ways women can become more confident while taking investment decisions investing money in money markets: 1. Take Help Before stepping in Mutual Funds, SIPs, ELSS or Stock Market, make sure you take services of a financial advisory firm. It is always good to let the experts handle your hard earned money. 2. Book a Monthly Appointment Make sure you book a monthly meeting with your assigned financial planner/advisor. Have thorough discussions, do not shy from talking about risks, your inhibitions and so on. Follow through with your financial advisor to keep a track of your money, as well as to learn the ropes of financial planning. 3. Start Small Start investing in various investment instruments with small amounts, so as if you lose money, you won’t burn a hole in your bank account. 4. Diversify your Portfolio Keep your investment portfolio diverse. Remember the wise old saying, do not hatch all your eggs in one basket. Go for short term, long term investments and also keep some liquid funds to meet contingencies as and when they arise. 5. Open Discussions Have open discussions with significant people in your life, be it your father, mother, brother, husband or a best friend. Keep company with people who are like-minded, i.e. who too are keen investors. You’ll diversify your knowledge as well as lend some, gaining confidence in the whole process. Money is Power & The Power Must Reside with You, Read Five Financial Planning Hacks Every Women Must Know Happy Financial Planning, Happy Women’s Day!