Women's Weekly: Wheels of fortune - Views on News from Equitymaster

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Women's Weekly: Wheels of fortune

Jul 17, 2009

What would you do if you fell into an excess of Rs. 10,000 tomorrow? Shop, save, or invest? Well that very occasion arrived dear friends, as last week we witnessed the Finance Ministers' speech about the Budget 09.

The power of 10k
For those who followed the Budget the day it was declared, the biggest benefit for women, as outlined by the Finance Minister, has been the increase in the tax exemption limit to Rs 190,000. What this simply means is that a woman tax assessee will now not have to pay any tax if her annual income is less than Rs 190,000. Before this budget, this limit was set at Rs 180,000.

Thus, this extra exemption from taxation now provides you the woman assessee with a higher disposable income yearly. Now you can either spend this extra cash flow or invest your savings.

What would you choose?

Our suggestion savings!

Take this (extra tax exemption of Rs 10,000) as an opportunity to save, to step up your financial security, especially as you have seen how inflation can eat into your wealth pie. Also not every budget may turn out to be a populist one, and financial situations can dampen in the future.

Staking the savings
In the broader scope of daily life, savings plays a significant role. Whether it is the daily haggling with the vegetable vendor over prices, or looking for great deals to save money, women are known to save and how! Yet, we never stop and ask what to do with the money? There will always be occasions wherein you will find means to save some money, and the best thing you can do is invest it!

Getting ant-sy?
We've all heard the story about the grasshopper and the ant, teaching us the lesson of hard work and the perils of extravagance without prudence. So would you rather be the wise and diligent ant who worked through the summer and saved for the winter to provide for himself, or would you rather be the idle grasshopper and enjoy life each day, without a care for the future ahead? When it boils down to something so simple, we all would rather be the ant!

So, what are you waiting for? Invest a part of that extra money you have in hand. The Budget announced every year will always have its share of praise and criticism. Yet, one needs to realise that in a vast nation such as ours, catering to the demands of each and everyone is a very tall order indeed. Therefore, while the Budget is an important event for the people of India, you as a woman investor should look upon saving and investment as a continuous process and not something that is wholly dependent on a once-a-year event.

Start understanding the "how's" of finance by signing up for our The 5 Minute WrapUp (a free resource) and start following the world of finance to become a wiser investor!

Over the next few months we plan to cover a range of issues that are important to women interested in investing, and offer solutions for the same. If there is anything in particular that you would like us to cover, kindly write to us!

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3 Responses to "Women's Weekly: Wheels of fortune"

uma ghosh

Jul 25, 2009

It's a truly a great initiative & hoping would be helpful for getting the correct guidance for investments.



Jul 17, 2009

The crux of the problem in USA , as we understand, had been the spendthrift habit of the people;men,women, children-one and all, without exception.The melt down has taught them a lesson.There is sign of change,presently.In India we had a different tradition.A tradition of our forefathers, working hard ,spending little and keeping the balance for the next generation.But with us also there were winds of change.Consumerism became the general trend. Buy and use what ever is there; where ever we see.Banks also changed.Loans became within reach.A new momentum,
every where,leading to more and more activities.But our Banks did not go beyond a certain limit.Advances were limited to repayment capacity,as far as possible.Banks found that
advances where ever woman coustomers were a party assured prompt repayment. Women SHGs have proved this beyond doubt.Now Banks have no hesitation in lending to woman SHGs.Magic of women power.With more more involvement of women in economic activities we are sure;our future is going to be safe.


kapila tandon

Jul 17, 2009

it gives me lot of information on the finantial
front&keeps me updated.

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