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Financial Tips For Women !!!

MoneyMindz.com India's First Free Online/ on-call Financial Advisory

MoneyMindz.com India’s First Free Online/ on-call Financial Advisory

Every young Indian woman who are employed has wide range of priorities. We work hard, we save and we like to enjoy a fair degree of financial independence. However, here is when we should pause and ponder about what it really means to be financially free.

Family Fund:

A woman working in an I.T. Consultant saved up money from her very first job and when her mother was sick and required expensive treatment, she pitched in – to the surprise of her father who was so proud of her daughter. That in fact, is true independence, when someone else can depend on you, to get through his or her financial troubles. Be it your child, your ailing parent or your partner who lost his or her job to external factors.

What should be the solution:

Ideal thing is to save 10-15% of your salary towards a ‘Family Fund’. Assuming you already save up for this cause, it would be a smart move to transfer your savings into a debt mutual fund, for better returns as well as security. Be there for your loved ones in many ways, because that is how you look after your family.

Dream Fund:

I remember earlier about a friend, saving up for an expensive LV bag. Some called it an irrational thing to own but that is my dream indulgence and I can save for it, no matter what somebody else thinks. After you have taken care of yourself and your family, you can now afford to indulge a little. If you have saved a sufficient amount in the other two funds, you can now start saving up for your dreams. A trip you have been putting off for a while, luxury purchases you have been craving for, or even a hobby you thought was too trivial to pursue. Well, it is time to invest some time in you.

Try this easy method:

The wittiest idea is to save at least 5% of your salary towards this. You could also allocate your annual bonus or any other windfall of money towards this dream fund. Depending on how big this dream is, you can choose equity mutual funds or debt mutual funds to convert this dream into reality.

For more information and queries, contact Moneymindz, the Best Free Financial Advisory Service.

Take a decision today to save towards these funds, and the rest will take care of itself.

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