To all the ladies out there, I have a very important question for you. When I say the word investing, do you shy away and prefer not to discuss it? If you answered yes, don’t worry, because you’re not alone! Legions of women across India avoid talking about finance and procrastinate about saving, investing and simply growing their money. Why, you ask? Well, too many of us are apprehensive to even start thinking about it. What came as a surprise to me, personally, was that women are born natural savers! So, folks, shouldn’t this be next to second nature for us?
Nevertheless, financial planning seems like a great idea until you actually have to weave through the plethora of information, various acronyms and financial terms out there, amirite? So, to demystify all your money-related questions, we asked Hena Mehta, CEO of personal finance platform Basis, to join us for our weekly #GirlTribeLive on Malini’s Girl Tribe.
Hena broke down the various important terms that one is bound to come across on their journey towards investing and saving.
She started off by stating how managing your finances is easy and we shouldn’t be scared. Viewers sent in their queries, varying from “What are mutual funds”, “What steps should I take before investing?” and “How can I start saving money each month?” Hena was able to convey her message in layman terms that any noob like me could comprehend! Watch a glimpse of it here:
She spoke about diversifying your investment portfolio, qualities you should look for in an investment advisor (licenses are everything!), and educating yourself about the basics of financial management. Her company Basis, which is catered solely towards women, provides fun learning modules where you can train yourself on the important topics.
Watch the LIVE where Hena gives you a lowdown of how to go about saving, investing and planning your money here.
The top 3 things you need to know when it comes to handling your finances are:
- Educate yourself on the basics! It’s easy, and with just some research you can take charge of your own money.
- Create 3 financial goals for your future, be it long-term (take a year’s leave in 3 years, or go to Europe this Diwali).
A goal has a purpose, amount, and duration. - Inflation is real! Don’t ignore it, and always factor that into any equation.
Will you take the first step towards planning your finances today? Join Malini’s Girl Tribe on Facebook to be part of such stimulating conversations!