Outlook Money – 01.03.2018

Photo: Gireesh Gv

Making Money Work for the

Millennial Woman

Today’s savvy, career woman realises the importance of financial

independence but often falls short when it comes to planning for the

future, says Rimme Dirchi

Ritika Kundoo, 26, Delhi

Senior Business Developer at an MNC

Life stage: Single and passionate about travelling the world. Saving for

travel and higher studies abroad.

Bhaktee Rasal’s advice for Ritika Kundoo:

Do not just invest to save on taxes, invest also for wealth creation

as per life goals. As a salaried person, you should save six

months’ salary as an emergency fund. It would be a disaster not

to consider contributing at least 20 per cent of your income to

savings right from the beginning.

T

here’s something different
about the career-oriented,
self-aware woman of
today. The millennial
working woman doesn’t look at
career as a mere option, nor does
she take financial independence
and stability lightly. Young female
professionals have achieved goals in
education, career, and income that
their mothers and grandmothers
could only dare to dream of, moving
far beyond what was considered
‘suitable’ work for women.
In such a world, more and more
women are opening up to the
idea of entrepreneurship, forcing
government bodies to introduce
schemes to facilitate the process.
According to financial planner
Bhaktee Rasal, “Compared to
Generation X, millennial women
are assertive and guilt-free when
they spend money on themselves.
There is no confusion about what
they want from life. They are clear
and well-connected with the world
around them via digital life.”
India is the second most
populous country in the world and
women constitute 48.5 per cent
of this popilation. According to a
report by Catalyst, a global non-
profit organisation, the Indian youth
population is the largest in the world
and the median age is 27.6 years. It
states that India will add 110 million
people to its labour force over the
next decade, and this naturally
includes young women. Over the

46 Outlook Money March 2018 http://www.outlookmoney.com