​Your checklist to becoming an W-investor

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Hola Momies! First up we have to lay it out..

An W-investor is a combo of:

  1. Woman investor
  2. Winning investor

If you are new to investing, then we have a fun checklist here for you to find out if you have the makings of becoming an W-investor. Read on,

     ●  You make a budget every month for                      expenses: if yes then you have a discipline            to identify your cash flow. You can surely             graduate to Goal-setting for your family               and tread on the path of Financial Planning        – a must for becoming an W-investor.

 

  • You have a kitchen garden: or some home plants. When you nurture plants, you learn to have patience because there are no quick spurts, fruition takes time. This is true for investing also. A sense of time horizon is key for an W-investor – you get returns over time.
  • You compare prices in supermarket: you are either the kind who compares or you are not; there can’t be a mid way. There’s good news in store if you compare because same buying behavior will also apply to financial products and instruments. Say while purchasing Insurance you have to compare premiums or while opening an FD you have to compare rates offered by banks.
  • You like experimenting different things for family: Despite knowing your choices clearly, you like to dabble with different cuisines for family, signing up for new apps, exploring news brands in groceries.. You feel calculated risks are important to experience a variety of things.  You have thw truest grain of an W-investor because investing comes with some amount of risk for sure. And no risk is no gain.
  • Even if small, you save a sum every month: Be a proud mom for being able to save because most people are not. There are various instruments which can work with small amounts but when consistently done, can payback well. Own the badge of W-investor guilt free because your SIP may just be the smartest investment around.

 

 

Break the Mould

 

A true journey is over when we really cover a distance. This distance will see some discoveries, some additions or some changes along the way. Momeywise is also on a journey, a start of a journey, to be precise; and we are urging fellow women to join us. One thing we are sure about getting out of this journey is Breaking the Mould.

 

Our financial habits have shaped up due to multiple reasons over time and they won’t die hard. As much as we have wished to get caution in spending and bring discipline in planning or investing, a lot remains desired. However, if we persistently try, we can break the mould & take charge. And much to our surprise, reap benefits too. Here are our top 3 recommended ways:

 

  1. Look at the big picture: You may be a habitual saver but ever increasing prices will outgrow your rate of savings and then what? What you need to do is invest and not only save. Your invested money will grow to give you returns over and above inflation.
  2. Tackle the fear: Do you feel the market movement, calculating RoIs or mutual funds is beyond you? They are complex or boring? Seriously think again. Its nothing to be afraid of. There are professionals who can help, tools that are handy and best of all – transactions that are quick.
  3. Today is a good day: Age, burgeoning expenses, uncertainties – the more you delay, the more you lose. On the other hand, the longer you give time to investments, the higher the growth. We will start illustrating with simple numbers shortly. But for now, we can’t stress more about starting asap.

It’s easy to not to try. But that’s not us women. We are known to adapt to various roles, most times with zero training. If we decide to break the mould, WE WILL.