RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Every Woman's Guide to Staying on Top of Her Finances

down-arrow
March 11, 2020

Table of Content

 

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

In the recent past, women in India and across the world have been shattering glass ceilings. They've made their presence felt in boardrooms and have started to demand for what they deserve. Today, we can look up to a number of independent women who have prioritised their career and their finances and are standing shoulder-to-shoulder with their male counterparts and CEOs. The most interesting change that we've seen, however, is that women are learning to own their finances. They're taking a good look at where they currently are and are making plans to get to where they'd like to be in the future. They're making investments, putting their money away in deposits and saving for their own future as well. So, if you're one of these fiercely independent women who would like to learn how to manage your finances by yourself, here's a guide to help you take care of your money:

1. Outline Your Goals

Creating a financial plan for an intangible or vague goal isn't a good idea. The first step towards learning how to own your finances is to create a list of all your financial goals. These goals can be anything from saving up for a vacation to ensuring you have enough money to enjoy an early retirement. Whatever your goals are, it's important that you understand how much money you will need to fulfil them. This will dictate how long you will have to save for as well as help you decide on the investment tool you can use to grow your money accordingly.

2. Do Your Research

Daunting though it may seem, educating yourself and being aware of all the options you have available to you is the most important thing. Speak to people you respect and trust and ask them about the kind of investment avenues that have worked for them. Read up as much as you can about the various plans being offered and check past records of investments. This will give you a clear indication of what kind of plans have worked in the past and which ones may continue to work in the future.

3. Pick the Right Financial Tools

Every goal that you have might be achieved by using different financial tools. If one of your goals is to plan for your retirement, you may be best served by a Unit-Linked Insurance Plan (ULIP) like HDFC Life Click 2 Wealth. Along with life cover, this plan enables you to invest your money in a variety of equity, debt and hybrid funds. Additionally, with the life cover component, this plan will also help your family out financially during a truly difficult time in their life.

4. Read the Fine Print

Once you've found the right investment tools to help you achieve your goals, it's time to get into the finer details. Are there any situations in which you may not get the payout you're promised? What happens if you miss a premium payment or are unable to keep your investment going? Before you agree to any particular financial plan, make sure you understand all of it entirely – even the terms and conditions.

5. Stay Updated

Investments are a work in progress. This is why it's vital that you check on your finances at regular intervals to stay updated on how they're doing. If a certain investment isn't progressing the way you expect it to, rearrange a few things. Find a way to switch your money around and look for a financial tool that serves you better. It's important to check on your portfolio periodically and balance it as required to achieve your goals.

Follow these easy steps and you'll be well on your way to enjoying financial independence and freedom. Women, it's time to take charge of your finances and make decisions that work for you and your personal goals.

ARN: ED/01/20/17432

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Is Your Financial Report Card A+ or F? Here’s How to Grade Your Financial Health

Is Your Financial Report Card A+ or F? Here’s How to Grade Your Financial Health

Evaluate your financial health with a comprehensive financial report card. Explore key metrics beyond credit scores to improve your finances and achieve your goals.

Who Should Know Your Financial Secrets? Here’s Why It Matters!

How Rising Interest Rates Impact Your Investments—and What You Should Do About It

Preserving Your Investment: How New Tax Rules Affect Real Estate Sales Before 2024

Discover how new tax rules affect real estate sales before 2024, impacting capital gains, deductions, and property transactions. Stay informed for smarter decisions.

Preserving Your Investment: How New Tax Rules Affect Real Estate Sales Before 2024
Top 6 Practical Safety Tips for Solo Women Travelers Previous
6 financial mistakes every parent must avoid Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches