(This article has been published in Finsight- February 2017)
Gone are the days when homemakers were solely tasked with the running and maintenance of the household. Today, they are equally involved in the investment-making decisions of the household.
Some of the common investment choices preferable to homemakers include:
- Gold – who can resist the temptation of the yellow metal, especially if it is a woman? Homemakers find gold to be their most favorite investment tool and usually indulge in gold jewelry for themselves or their children.
- Fixed deposits – women are more cautious and risk-averse compared to their male counterparts. Since it takes a lot of effort on their part to scrimp on the monthly budget, a fixed interest bearing investment is more preferred. Fixed deposits are thus popular among housewives.
- Recurring deposits – another popular investment channel is the recurring deposit scheme. This scheme lets homemakers save small amounts every month towards building a good corpus. Since they get a monthly budget, saving monthly is more convenient.
Trivia: A study conducted by DSP BlackRock Investment Managers depicts the relationship of working and non-working women with financial investments. According to their study, 92% of the working women and 84% of the non-working women made financial investment decisions. Among this 84 % of homemakers, 10% were the sole decision-makers when it came to making a decision about a financial investment while the remaining 74% were joint decision makers.
-Rupanjali Mitra Basu
Founder and Chief Training Enthusiast at FinProWise
[tek_button button_text=”Download Fisdom App” button_link=”url:https%3A%2F%2Fbit.ly%2F3gsig0V||target:%20_blank|” button_position=”button-center”]
