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Do you ever wonder how women from any strata of society, are able to accomplish this well?

How is a common housewife able to manage her household in whatsoever budget, she is given?

On a small-scale, women have always well proved their potential to be better money managers.

Let us illustrate a scenario as an evidence of this concept. If we look at banks and other micro finance institutes, it will not be uncommon to find these organizations readily lending money to every next door woman in the house. Does this still makes you ponder?

Decide your financial Future; or someone else will:

Personal financial planning is one of the significant things in every women’s life. Planning your own financial future will offer you enormous set of benefits. Even with these benefits being clearly apparent, many women (including the working ones) still leave their financial matters on their fathers or husbands.

You may raise a question here. What will this planning ensure us with?

Let us answer this question with an example. Consider an Indian family going for its first vacation abroad. It is obvious for any and every Indian family to plan their holiday well in advance. Like a vacation, every successful aspect of your life requires planning including your finances.

Of all, personal finance planning can be regarded as the most important as it can be a key to our and our dear ones’ future. Thus it should not be taken at ease. Rather, it should be stabilized and considered various aspects including one’s short and long term goals.

Let us here pay our attention to some very simple and easily attainable steps, for any and every contemporary woman, to ensure her finances for a safe future.

1.To understand your financial needs:

This is the primary step, for which a women must build up a relevant plan. For the same, begin with finding answers to the following questions:

  • Ask yourself if you are actually aware about your cash flows (incoming and outgoing)? This necessary information will help you be aware about the surplus or deficit at every month end.
  • What is the difference of the cash inflow and the expenditure, to calculate your net savings?
  • Then, determine how much of your income is being saved (savings ratio)?
  • Do you earn, just to save? Are you also investing alongside? Investment can be understood as saving with a fixed agenda or plan.
  • Are you informed of how much interest value is your bank deposits generating?
  • Do you have your emergency funds (at least 3 to 4 times of your monthly income) in place?

Having all this, you can step on to the next level for your personal financial planning.

2. To identify your family financial goals:

Let us gain understand this step via putting forth certain questions before ourselves.

  • Is my family and I insured well? Do we have an income replacement, if any of the income generators in the family passes away?
  • Do you have an assured sum for retirement? Do not live under a delusion that your children will be your retirement plan.
  • Are you saving enough for your child’s higher education or wedding?
  • Are you well prepared for additional liabilities, like your housing loan, care for parents or in-laws?

3. To evaluate investment options:

Be rational and reasonable, while considering investments. Before making any decision, contemplate upon: Who is my investment advisor? Is he someone trustworthy, or professional, or just a known someone?


Discussed were a few questions and points that every woman should lay her thoughts upon. All these questions discussed need persuasive answers, for assurance of a strong ‘personal financial planning’.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Director and Chief Financial Planner of Holistic Investment Planners ( a firm that offers Financial Planning and Wealth Management. He can be reached at


Published by

Ramalingam K
(Founder & Director - Holistic Investment Planners (P) Limited)
Category Others   Report

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