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

Women and Financial Planning

down-arrow
November 08, 2017
Ms. Vibha Padalkar , MD and CEO.

Her thoughts on why it is essential for women to be planning their finances on their own if they aren't doing it already.

Often, men hold sway in making the bigger financial decisions. Women, on the other hand, are believed to be less confident when it comes to such matters. But it's actually very easy to make the pendulum swing the other way.

Women have traditionally run their homes proficiently, often keeping a tight rein on their family's day-to-day household spending. We all have grown up watching our mothers keep track of the monthly expenses and cut down on overspending.

Sometimes they would keep aside tiny amounts of cash from their salary or the sum they received from our fathers to manage the household. The money would then be hidden in kitchen jars, in the dark corners of cupboards, or under mattresses. Some of them would even contribute equal amounts of money to a kitty every month, and use a raffle-like system to select a member who'd get the entire lot that month. Whether it was cash stashed away at regular intervals that, over time, grew into a significant reserve, or a lump sum amount won through a kitty, such emergency funds are what often helped make possible that long-overdue family vacation, postponed medical procedure, or home repairs.

In today's world, women continue to take charge of decisions on planning and controlling their household's monthly expenses. But, despite being a key decision maker on money management in the household, when it comes to making bigger decisions such as those on financial planning, their participation is still low. Rather, they depend on their father or husband to make these major decisions for them.

It is important that women manage their own money and investments, and on the whole, get more engaged in making financial decisions. Smart planning by a woman of her own finances will help her meet her personal and professional aspirations, that too without depending on anyone. It will also enable her to financially support her family's goals such as buying a dream home.

As a woman, do you think that financial planning is not your cup of tea? You may be steadily climbing up the career ladder, but you need to understand that being financially independent not only involves earning money, but also utilising it smartly. Consider this: The banking and financial services sector in India has several women at the helm of affairs. These are women who have broken through the glass ceiling in what was traditionally a male bastion. They are far more trusting of their decisions and intuition, and therefore, are confident about their judgements as far as financial decisions are concerned.

In the 29 years of my financial career I have always had to do a lot of number crunching and have had to pay attention to detail. Being technically sound and not being averse to financial matters has always helped.

Still taking a step back when it comes to making big finance decisions on your own? The truth is, once you start spending some time learning about it, you'll find it neither difficult nor confusing. Begin by taking small but steady steps forward: read about financial planning, have honest conversations with your family and consult financial experts. Initially, set aside and invest smaller amounts, and gradually take charge of your personal finance.

But sometimes, your savings can be inadequate to handle the big curveballs that life throws your way, such as illness or unemployment. Insurance plans can ensure your financial well-being-thereby offering greater certainty-in face of the contingencies of life. So start planning wisely.

Show Full Article
Hide Full Article

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.

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

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

How rising interest rates impact your investments and ways to adapt. Stay informed to make smarter financial decisions and protect your financial future.

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

Financial Freedom for Women Entrepreneurs: Unlocking Success with the 50-30-20 Strategy

Baby Steps to a Secure Future: Financial Planning and Wealth Management

Essential financial planning and wealth management strategies for families. Secure your future and confidently navigate parenthood with these key insights.

Baby Steps to a Secure Future: Financial Planning and Wealth Management
Harshvardhan Kadam: Dreaming in Colour Previous
Power Of Compounding And Early Investing 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