Not sure if anybody gives this advice to women: Start taking your own financial decisions! 

You went to a top Engineering school. You then topped it up with an MBA from a good management school.

You have put in 10 years in corporate India, and are doing very well. Last week your appraisal gave you an out of turn professional.

Great. When I suggested investing in mutual funds you told me “My father handles my investments..I NEED TO ASK HIS PERMISSION”.  Face it, no guy ever told me “I have to ask my mother before I invest”.

Sadly for both of us, I know your dad. He was a clerk in a government department and has a pension to live off. I know that all his money is in bank deposits and he is able to enjoy a much higher standard of living because you and your brother continue to live with him and both of you are doing well – and both of you have not got married. By the way, your BROTHER does SIP and has not ‘asked’ your father for PERMISSION.

Ladies: stop it! You’re a grown, qualified, smart woman and can make your own decisions about your finances. BE the change you want to be.

I do not think that there is anything wrong with having your parents as your advisers – who can be more loving than them? But what about knowledge? what about thinking 39 years later what will happen? What if they did not even know about products like mutual funds, and term insurance? what about expressing mortgage loans in terms of ‘3 years ctc’ instead of ‘OMG 54 lakhs’ which is what one father said to his son?

Parents as advisers (unless of course they are doing it as a profession) is just to learn so that you can become independent one day. Not to be spoon fed by people who are themselves, well, for want of a better word, financial illiterates. Sorry, but a man who has kept all his money only in bank fixed deposits cannot give you much advice, can he? I was not impressed seeing you pay Rs. 3.2 lakhs interest on bank fixed deposits. Shifting them to a bond fund would have improved your post tax return on investing. With such a portfolio you are much better off paying your home loan in one short – and you know you can do that.

Even if you are receiving some kind of a financial support from your parents use it as a training for your future goals and future financial lives. If you have a boy friend whom you plan to marry involve him – do not assume that he ‘knows’ what to do. Start talking to him about your joint finances, buying/ renting a home..

I know one young girl who is living in a city other than where her parents are living. She pays her rent, food,..etc. earns well. She has set up her own SIPs – her father had no role except to say ‘you must save/invest’. She takes her own decisions in money matters, even though her father is a CA and she is a Tech+mba. She does consult her father – and took a term insurance against her father’s advice. She has medical insurance, much more than her parents have. She does good amounts of SIPs and just started nibling in direct equities. Way to go.

Time girls cut the financial umbilical chord.



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  1. these things take “time” subra!

    its been few years that girls are in seriously earning “mode”

    can you take time out and meet villagers?

  2. “You’re a grown, qualified, smart woman” – if you can’t manage your own finances i dunno how smart and qualified any man or woman is!

    These “smart” people do well when they are single. It is when they graduate from a DINK to SISK family that they struggle mightily.

    most of the villagers and low income families it is the women who toil and manage everything while their husbands are drowned in alcohol.
    they are infinitely smarter with more will power than your smart, professional Tech+MBA woman 🙂

  3. Recently got this advise from a woman for women on Whatsapp,,

    Think its apt here…

    Subra ji needs to check the post again.

    Dear beautiful ladies, sharing few learnings which came with age –

    1.Take care of your health. Spend time n money on maintaining yourself.

    2.Learn to be independent. Its perfectly ok to not earn, but its important to be independent.

    3.Learn to ride that bike or drive that car. You don’t always need an escort!

    4.Learn about investments and taxes. Its not necessary to have someone else manage your savings n earnings all your life.

    5.Plan and save for your own gifts n desires. You don’t always need a boyfriend or husband or your dad to buy you something you love. Gift yourself!

    6.When you expect equal pay at work, take equal responsibilities. Its not ok to play the “woman” card or “mother” card and shun tough tasks, working weekends or late nights every time.

    7.Take equal responsibility of your parents. Its not acceptable to expect everything from your brother every time.

    8.Let the father take care of the unwell child once in a while. Its ok. Your career is equally important and the father is equally responsible.

    9.Let other family members take care of your kitchen sometimes. Its ok if the kitchen platform is exceptionally unclean or sink is full of dirty vessels. Relax n take that break!

    10.Help the other woman, even if you dont like her 😉 You never know what her battles are. Empower the needy ones, like your maids. Teach her basics of hygiene, education and finances.

    11.Create a support system. Its ok to get on well with inlaws! Not every family needs to have a saas-bahu drama.

    12.Have some friends (men and women) beyond your husband’s or boyfriend’s group. Its ok ! Spend some time away from family with your friends.

    13.Its ok to not cry. Not all women need to be senti all the time 😉

    14. Be vigilant, be prepared to handle tough situations. When things go wrong, try to be balanced and find way out of your problems. You don’t need to play the victim.

    15. Find time to read and keep yourself updated.

    16.Raise independent, caring and health conscious kids. Make all family members equally accountable and responsible.

    17. Create different girlie groups. Share your problems and seek opinions. Finally take your own decision and be confident about it.

    18. Spend some time in doing what you like, even if its just sitting idle. Dont feel guilty about it, just because others feel its worthless.

    19. Believe in yourself…… . If you don’t, no one else will

  4. Dear sir,

    Can you pls have a post for retired couple, age 60 with around 50 k pension in medium cost city. – They have their own house.
    Have medical insurance. They are putting their money only in FDs.

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