Over the years, your support has made Women’s Web the leading resource for women in India. Now, it is our turn to ask, how can we make this even more useful for you? Please take our short 5 minute questionnaire – your feedback is important to us!
Money Smart is a comprehensive guide for Indian women to navigate through the complex world of saving and investments.
Coming from the financial investing and advisory background, Reenita Malhotra Hora and Divya Vij have created a one stop guide on why, how and where Indian women should save and invest.
At the outset, the book convinces women about the need to save and invest. The first chapter motivates and empowers them to take part in financial decision making. It emphasizes on the need for a budget and a savings plan.
In the next few chapters the book goes through the basic principles of investing: how to choose the right investment, how to understand your investment profile and how to choose a right bank account. It briefly touches through the traditional investment vehicles like post offices saving schemes and national saving certificates.
From there on, each chapter then takes you through every possible investment option (ranging from fixed deposits to gold, art and even commodities). The explanation of each asset class is peppered with comments from powerful women in business and industry experts. In between, it brings out real life stories of how women and couples have dealt with investing situations.
In the last few chapters, the authors talk about taxes, union budget and its implications for women. It also gives the reader a chance to test their financial intelligent quotient.
However, although the book covers all these key topics, you do wish for a little more. With due respect to the comprehensive research by the authors, I feel that the information shared is widely available, although in a scattered manner. My view is that it is not the lack of information that deters women but lack of conviction in themselves that deters them from taking investment decisions on their own. I would have loved if the book would have touched that aspect in detail too.
I hope that an average Indian woman, after reading the book gets convinced to start putting her bucks where it matters. However, some of the jargon used to explain the investment options can confuse someone who wants to take baby-steps towards investing.
One other aspect that could be looked at in a second edition is including true stories. I feel that women really get inspired through stories. I would have loved it if the author could have used the opportunity to ask the powerful women they spoke to about their saving and investing habits from their early days. Which statement would you find more convincing?
“Women should invest in shares or funds to create wealth” Or
How Naina Lal Kidwai or Kalpana Morparia started investing in shares? What were their spending habits like? And how did they overcome their money fears?
Finally, I feel Money Smart can be a good starting point for women who are starting their careers and have basic understanding of financial concepts like bond yields and power of compounding. It gives you the information needed in one place, and can be strengthened through a deeper look at the human side of managing money.
If you’d like to pick up Money Smart by Reenita Malhotra Hora and Divya Vij, use our affiliate links: Money Smart at Flipkart, Money Smart at Amazon India or Money Smart at Amazon US
Women’s Web gets a small share of every purchase you make through these links, and every little helps us continue bringing you the reads you love!
Top image of woman with money via Shutterstock
Rachna Monga Koppikar aka The Great Gruhini is a finance writer who’s worked with India’s leading publications for well over a decade. Having swam and mastered the treacherous waters of corporate and personal read more...
Women's Web is an open platform that publishes a diversity of views, individual posts do not necessarily represent the platform's views and opinions at all times.
Stay updated with our Weekly Newsletter or Daily Summary - or both!
He said that he needed sometime to himself. I waited for him as any other woman would have done, and I gave him his space, I didn't want to be the clingy one.
Trigger Warning: This deals with mental trauma and depression, and may be triggering for survivors.
I am someone who believes in honesty and trust, I trust people easily and I think most of the times this habit of mine turns into bane.
This is a story of how a matrimonial website service turned into a nightmare for me, already traumatized by the two relationships I’ve had. It’s a story for every woman who lives her life on the principles of honesty and trust.
This can have a drastic effect on other victims of domestic violence. It will also encourage the abuser that they can now threaten their victim that he/she may end up like Amber Heard on the internet.
The lives of actors, be they from Hollywood or Bollywood, trouble my peace. Though they are worshipped by their fans, the real-life of many is quite troubled. It is scary to see what money and fame can do to a person. These are the people who have made me realize that fame and money are not that important.
I usually try to avoid reading about actors and their lives but there is no escape when the internet gets flooded with news and you come across it again and again as it happened with Aryan Khan’s arrest, Will Smith slapping Chris Rock, or now Amber Heard v/s Johnny Depp case.
We clearly see the pattern of uncivilized society in the above-mentioned cases where the mass verdict is passed even before the jury or judge passes the sentence. Usually, there is no middle ground for these people who are just there to make a topic trending on the internet. One is black and the other is white, there are no shades of grey for these modern-day witch hunters.