Presentation_Women_2014_JMD Garden

Personal Finance Awareness Workshop

‘Women and Money’

-Shilpi Johri, CFP, MBAHead & Financial Planner, ArthaShastra Consulting

Presentation by ArthaShastra Consulting 2

• Our life as a ‘woman’

• Why should we understand personal finance

• Aspects of Personal Finance

•Comprehensive Financial Planning approach to

personal finance

•How can you get more engaged in family finance

•Service offerings of ArthaShastra Consulting

Content


Our Life as a ‘Woman’


What people assume about us!


What is the reality!


Why should we understand personal finance?


Why should we understand personal finance?

women have unique

financial needs!

We live longerNuclear families

Events like Death of spouse

or separation

Many of us lack

financial experience

We need to be more

independent

We earn less


Your Financial Landscape


Aspects of Personal Finance


Do you track your monthly expenses?

•Define your goals with date and amount

•Measure your expenditure: prepare a Budget!

•Contingency Fund

Expenditure


Are you saving enough?

•Savings Income – Expenditure

•Expenditure = Income – Savings

Savings


How much insurance do you need?

•Cover your risk: inquire for sum insured

•Avoid unnecessary insurance

•Health insurance: waiting period,

pre-existing diseases, exclusions

•Car insurance: deductibles

Insurance


Various Investment options

•Gold

•Fixed Deposits

•Mutual funds

•Property

•PF and PPF

•ULIPs

•Stocks

Investment


How to deal with Credit cards?

•Don’t apply for credit cards without reading the terms

•Don’t make everyday purchases with credit card

•Know your card limit

•Do not roll over your credit card debt

•CIBIL: Know your credit score

Debt


How to deal with Home Loan?

•Are you a co-loanee?

•Never exhaust your borrowing limit

•Prepayments

•Increase your EMI

•Reduce the tenure

•Consider refinancing

Debt


How to file Tax Return?

•Rebates: No tax up to Rs. 2,00,000

•Tax deductions: 80C and 80D, 24D

•Tax deferred savings plans: ELSS,

PF, PPF, ULIP, 5 years FD

Taxation


How does Government ensure your rights

•Equal right in the assets and properties of father

•Husband’s assets to be shared equally with children and his

mother

•Share in all immovable assets of the husband

along with the maintenance on separation

•Joint ownership

Estate planning


Retirement is doing nothing without worrying about getting caught at it!

Women never retire! Know your Net Worth each year.

Retirement


Pay yourself first!

Invest in yourself

!

Take care of your health

Learn new skills

and informati

on

Make Online

presence

Pursue your

hobbies


Comprehensive Financial Planning


Why people are stressed about their finances?

•Procrastination

•Ignoring the big picture

•Ad-hoc buying of financial products

•Failure to set their goals

•Inadequate risk management



What is Comprehensive Financial Planning?


Analyzing your current situation

Qualifying and quantifying your

goals

Scenario analysis

Action plan and recommendation Monitoring


How can you get more engaged in family finance?


Your involvement in family finance

Educate Yourself

Blogs and Websites

Outlook Money or ET Wealth

Make Personal Finance Clubs


Any questions, experiences, feedback?


Services offerings

New Service Offering!

‘QAF’Quick Assessment of Financial landscape

3 hours session (In Person/ Skype)to assess, review and consult on key aspects of your personal finance

INR 2,999

PDF document containing Recommendations Summary

How long we meet

What you pay

What you get

• Goals Prioritization• Investments Analysis• Insurance Analysis

• Debt Analysis• Retirement Outlook• Real Estate Decisioning

Hourly Consultation

1 hour session (In Person/ Skype)

INR 1,500

Email containing Recommendations Summary

How long we meet

What you pay

What you get

• Consultation and counseling on your financial query

Annual Engagement


Yearly engagement (In Person/ Skype)

• Comprehensive Financial Plan, prepared & delivered usually in about 20-25 days

• Ongoing consulting support for the entire 12 months period

What do you get

INR 19,999

What you pay

• Analysis of your current situation Personal, Professional, Financial and Health covering Financial aspects like Income, Expenses, Assets, Liabilities, Investments, Insurance (life and non life), Cash Flows and Tax liabilities This will bring out interdependence of all the aspects.

•Qualifying and quantifying your goals and aspirationsList down and quantify goals and aspirations: Children education, Marriage expenditure of your children, employment change, start up, retirement, charity, transfer of wealth, other high value purchases, vacations and the like This will help you identify the gaps in the present situation.

•Scenario AnalysisAnalyze & forecast future scenarios, both favorable and unfavorable, expenses and investments streams, potential risks, portfolio breakup This will help you take a realistic look of finances both current and the future.

•Action Plan along with product recommendations

What is covered in the financial plan


Thank you!

Presentation_Women_2014_JMD Garden

Documents

Transcript of Presentation_Women_2014_JMD Garden