Three out of 10 women take financial decisions on their own, shows the latest survey conducted by Scripbox, an online wealth management platform.
The survey reveals that 70% of women said that they are either independently managing their own money (32%) or are actively involved in financial decision-making with their spouse (38%). Compared to last year’s survey, there is an 11% uptick in the number of women who are independently managing their expenses today.
Independence in financial decision-making has led to a sense of personal empowerment in women. 44% women say they prioritised creating a financial plan; 40% say they are committed to saving more, while 23% increased their investments. Further, one in five women (22%) has started to invest for the first time during the pandemic.
Ahead of International Women’s Day, Scripbox conducted an annual survey to understand the qualitative aspects of women’s investing habits and financial goals. Scripbox undertook this survey digitally with 750+ women across India through February 2022, on women’s communities on social media, including Gurgaon Moms and Mumbai Moms.
The survey further reveals that women are proactively seeking to educate themselves on money matters. Nearly 30% of women share that they had sought to educate themselves on personal finance during the pandemic. 30% of them rely on digital investment platforms for information on financial planning and investing, 20% depend on friends and family and 15% refer to articles on personal finance.
Long term life goals continue to be a priority. Saving for retirement (20%) and for children’s education (20%) emerged as the most important financial goals for women across India. While women under 35 years wish to make more money as their next financial goal, women over 35 years have said that they would prefer to create an emergency fund.
