Five Mantras for women to take charge of their own finances

Ayesha Singhal (name changed on request), 25, a single working woman from Delhi, began investing a few years ago. On speaking to a financial advisor recently, however, she realised that there are several flaws in her approach.

- HIMALI PATEL

Ayesha Singhal (name changed on request), 25, a single working woman from Delhi, began investing a few years ago. On speaking to a financial advisor recently, however, she realised that there are several flaws in her approach. "I relied on word of mouth instead of conducting my own research before investing," she says. Singhal invested in stocks and initial public offerings (IPOs) without fully understanding their risks. Her portfolio lacked diversification. She also put money in insurance-cum-investment products, which yielded low returns, provided inadequate insurance, and lacked liquidity.

Rivesha Aggarwal, 28, a married working woman from Mumbai, relied entirely on her mother's suggestions, limiting her investments to traditional "committees" and gold. She did not explore the benefits of systematic investment plans in mutual funds.

Lack of involvement Despite rising literacy, professional exposure, and financial independence, many young people, including women, are reluctant to take full control of their finances.