Financial Awareness: A Pre-requisite for Financial Planning

1
Financial Awareness A Pre-requisite for
Financial Planning
2

• Despite being smart, confident, stylish and
  multitaskers, women are still dependent on the
  men in their lives father, brother, husband
  to direct their finances. According to HDFC Life
  ValueNotes Life Freedom Index survey, 42 of
  urban women chalk out their financial plans with
  the help of their friends and relatives. But why
  would an educated, urban woman spin away from
  drafting her own financial plan?
• No money matters, please!

3

• According to financial experts, women believe
  they are incapable of managing their own
  finances. They also perceive finance to be a
  boring and difficult subject. However, this
  age-old tradition is now gradually changing.
• Sarika Waje, 33, is a Global Knowledge Manager
  with a leading communication firm. She is the
  second wage earner in her family and is
  financially independent. In todays scenario,
  the standard of living is on the rise, she says,
  adding, It is very important to have a steady
  inflow of money coupled with sufficient savings.
  At present, most of my salary goes in paying-off
  my housing loan EMIs.

4

• When asked if she was exposed to sufficient
  financial knowledge, Sarika says, I usually do
  my research but I also seek advice from my father
  and husband.
• Financially independent, but lack financial
  awareness
• Urban women such as Sarika are becoming
  financially independent and have a higher sense
  of financial liberty. Lack of financial awareness
  will only lead to financial insecurity. A married
  urban woman is actively planning for her childs
  education, health expenses and EMI payments. Her
  financial freedom also accords her the liberty to
  indulge in other luxuries such as family holidays
  and durables. The working single urban woman is
  ready to face the financial challenges of her
  life independently.
• However, an urban woman is not completely
  financially free and needs improvement on aspects
  such as financial planning and financial
  discipline. But given her poor financial
  awareness, she is unable to review and realign
  her financial plan that can cover all her
  short-term and long-term financial goals

5

• Financial guidance
• Its time to get into the drivers seat and get a
  larger perspective of the road ahead. For
  starters, professional financial advice will help
  in achieving a comprehensive term plan. As per
  the LFI survey, only 26 urban women seek
  professional help from financial planners.
• If Best Investment plan are not taken care of,
  financial goals could transform a dream into a
  nightmare in the form of financial insecurity and
  a bumpy retirement.

6
Follow us on
https//www.facebook.com/bajajallianzlifeinsurance
ltd
https//www.linkedin.com/company/bajaj-allianz-lif
e-insurance-co-ltd-
http//plus.google.com/bajajallianz/posts
https//twitter.com/bajajallianzLIC
https//www.youtube.com/user/jiyobefikar
https//instagram.com/bajajallianzlifeinsurance
7
Click to know more on Best Investment Plan
https//www.bajajallianz.com/Corp/investment-plans
/investment-plans.jsp
Thank You