Super Woman: To A Wealthier Future

It is observed that when it comes to finance, women tend to pick up the extremes. Either they save it all or they simply spend it all. With the availability of various financial instruments and investment plans, choosing the manner in which you can maximize your saving should be an informed decision. You could be a student, working single or married woman and housewife and due to various social and economic status, the places in which you should capitalize your money will be different. After going through this piece of information who will be able to make a super woman like smart decision.

If you are a single woman then your goal may vary from saving for higher studies like a super woman as well as saving for your wedding or real estate. Your venture will vary accordingly. As you will be expecting short term returns from the amount for studies you should go for deposits at post office, FDs in bank or liquid mutual funds. The risk is minimal and deduction due to pre mature withdrawal is low. For your bigger goals, you may want to look up debt mutual funds or equity mutual funds that have good ratings. If the term is greater than 5 years, then midcap equity funds are the way to go.

If you are a married working woman then one thing which will be most scarce in your life is time. So it is suggested that you should resort to a good financial planner for your investments like a super woman. Your aim may concern the welfare of your children as well as retirement years of you and your partner. Corporate FDs, Debt, Equity or bullion are highly recommended for taking care of your kids’ education or wedding. Whereas when it comes to your elderly years, NPS and PPF should be taken up as they offer best tax saving ratio and good long term returns.

For housewives, it is highly recommended that, like a super woman, they should use the weapon at hand to earn money. The weapon being money itself. Whatever you are able to save from the family expenditure, try putting it in hybrid bank account that have higher interest rates. Option of recurring deposit mostly available in post offices is also a suitable option. Investing in mutual funds concerning gold is also worthwhile because it excludes the making charge you are forced to pay if your buy gold items but gives you return like actual sale of gold at market price.

In case you are a single parent, then your investments must take into account contingency plans like a super woman. A term insurance plan is recommended and saving should cater for at least three months expense of your family in case there is sudden cease work.