A caretaker, a confidant, an entrepreneur, a mother, a daughter, a multi-tasker—are all of what make a 'wonder woman'. She seamlessly juggles all her responsibilities, striking the perfect balance between her demanding personal as well as professional life.
Conventionally, women were viewed as commodities; damsels in distress who are shipped off to their spouses residence, desperately dependent on him for survival. This, however, is no longer the case. As it stands, an impressive (and growing) number of women hold successful jobs, whilst serving as homemakers too. They consume a batch of newspapers as they sip on their morning tea and set out to work hard till the day's end.
As International Women's Day is approaching, Cosmo wanted to gauge the quantity and quality of financial knowledge women uphold. So, we set out and asked eight wonderful women to share the best (and smartest) financial advice they've ever received. They are now passing this wisdom on to you.
"The best financial advice I've ever received is to get a hold of my income tax records, to learn and understand investment in stocks, and manage and reinvest returns. We never happened to gather such important knowledge during our schooling, so I'm glad I became aware of it when I did! It's imperative to know where your income is going and what to do with it." - Uzma Majeed, 23
"The best financial advice I've ever received is to diversify my sources of income and not solely depend on one job. Someone recently also told me to start investing in bitcoin." - Ekta Kashyap, 26
"Invest only that part of your money in mutual funds which you won't require urgently (for the next 1-2 years). Besides that, my mother always told me to be financially independent so that I don't have to beg, borrow or steal from somebody else." - Shivangi Singh, 27
"Never panic sell your stocks or investments. For instance, say you purchased a stock or any other equity for INR 50,000. Three days later you find out that its value is down to INR 45,000. Most people who are new to investment would panic and anticipate a further decline, ending up selling at a loss. Once they see the market appreciate once again, they will buy the same stock at a higher price." - Aruna Mazumdar, 25
"The best financial advice I've ever received is to invest in shares or cryptocurrency." - Aayushi Chachra, 28
"Always have emergency funds! And, start budgeting as well. It's also ideal to pay off your loans as soon as possible." - Shravani Guliani, 28
"I believe the best financial advice would be to invest in mutual funds and LIC." - Shraddha Bahukhandi, 28
"Never invest your money in something you don't fully comprehend. If you don't possess adequate financial knowledge but still want to earn, invest in an index fund. Learn what they are and put your money in it for long term. You are most likely to get 11-13 percent average growth, each year. Compound interest is powerful." - Kanika Mukherjee, 27