Culturally, women take a step back when it comes to financial literacy. The Global Financial Literacy Survey shows 80% of Indian women are financially illiterate. Women spend more than they save or invest, which puts them in a dependent and vulnerable position in the event of a cut-off from their primary financial provider.

A webinar was hosted recently by Her Second Innings in collaboration with the Credit and Banking Council of WICCI to emphasize the importance of Financial Literacy in women. Mr. Vishal Rai and Mr. Jigar Parek, Founders of Pinewealth Investments Limited were the guest speakers. The recording of the session is at They made their case on why women have to take an active role in planning their financial future. The following were the key takeaways of the session.

Savings Vs Investment

Savings is the act of putting away money for future use. One can save by not spending money and have it protected in the bank. Over time, money saved decreases in value because of inflation. Inflation is the increase in prices that brings down the purchasing value of money.

Investing is putting away money for the future while also growing it in value. Debts, Real Estate, Gold, Equity, and Art are areas to invest money in. When planning to invest money, it is prudent to consider how the money grows along with inflation.

The choice to save or invest depends on factors such as how long you can let your money grow, how loss-proof you want your money to be, how you want your money protected against inflation, and considerations against an emergency requirement of funds.

Financial Planning

Financial Planning is the process of supporting life goals with access to adequate finances. It involves considering your income and making a choice between spendings, savings, and investments. It includes choosing areas to invest money in. It is also prudent to secure a financial back-up that involves Life Cover and Health Insurance to tide over unexpected life events such as death, disabilities, loss of a job, health crisis, and salary cuts.

“Money doesn’t buy you happiness, but lack of money buys you misery”, says economist and psychologist, Daniel Kahneman. Protect your finances, grow it and be an author of your financial wealth.

About the Author

Jennifer Moses is a Career Guidance Coach at HerSecond Innings and Counseling Psychologist based out of Bangalore. HSI community members can reach her by making appointment Coaching.

Her Second Innings supports women professionals on a sabbatical in their journey of getting back to work. The mission of HSI is to guide women to achieve financial independence. Support from HSI comes in the form of job interviews, reskilling programs in Automation and, free Career Guidance Counselling. Sign up with us and complete your profile to get a call from our counselors to know your job fit.


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