Why Women Are India’s Best Money Managers
Happy Women's Day to our Undisputed Best Money Managers from the team of Indigenous Investors!
Let us just take a moment and think about how our mothers and grandmothers operated.
A typical Indian family set up consisted of grandparents who had retired, a father who was the sole earning member having a 9-to-5 job, a mother usually a home maker and two or more kids.
It was a time of minimalistic approach and that of scarcity.
A typical household was a one room kitchen or a one-bedroom kitchen apartment that accommodated all family members. It had not more than 2 cupboards having each of its section dedicated to clothes (and books) of each family member.
With just one member earning and taking care of their routine expenses, think of the additional expenses incurred by the family due to social commitments (birth, death, marriage and so on). The sizes of the families – and the recurrence of such occasions – were enough to find themselves a space in the monthly budget.
In such times, do you think the income was always enough?
Think of the Jugaads that your mother and your mother-in-law taught you that would not only reduce your effort but also save from wastage – eventually saving cost. They had all the tricks up their sleeves for course correction had something gone wrong.
Sure, women did not earn then due to the societal construct and family structures. But they sure knew how to manage from whatever they got.
Irrespective of the financial situation, these incredible women
never let their husband feel like a failure for not earning enough,
took care of aging parents and their needs,
satisfied all different aspirations of her children (irrespective of the count),
control day to day expenses, and
in spite of all this, she always managed to save for the worst times.
Remember she always had a secret dabba where she would collect whatever she could save?
You know what this makes her? It makes her
“THE UNDISPUTED BEST MONEY MANAGER”
A remarkable social change is taking place.
These days, we hear an argument from many people that women that have entered the workforce are not as skilled as their mothers and grandmothers. To all those critics, this data below is an eye opener.
Women are financially savvy than men.
Don’t believe us, look at the data below.
More women have become a part of formal workforce in urban and metro areas as compared to other geographies in the chart. In spite of this, the deposits held by women in these areas are better than men.
This is not to say that men don’t save – they may have their end of responsibilities to cater.
However, women aren’t emptying their kitties in shopping and partying as the common narrative goes.
Since a long time, banks have been incentivising women to borrow through lower processing fees or better interest rates.
Now we know why.
Women have been more prudent in repaying loans than men.
The gap of 0.6% in Gross Non-Performing Assets (GNPA) means a lot to the banks. Especially when that number crosses the 2% mark.
What has this resulted in?
Women have now broken the glass ceiling and have become Real Estate Investors!
Don’t believe us?
Here’s the data for Women Homebuyers
Year 2023 - 1 lakh and 14 thousand (1,14,000)
Year 2024 - 1 lakh and 29 thousand (1,29,000)
A solid 14% growth in sheer numbers
To boost this, several State Governments in India offer stamp duty concessions of 1 - 3% and reduced registration charges of 0.5 - 1% for female buyers.
In a nutshell, even the Governments have recognised their power and are cashing in on the opportunity.
To the people who think that women still have a long way to go to reach their highest level, please open your eyes and see that they have already crossed it.
To all the women, do you really want to be like men?
Take a look at our recent posts!
