The survey reveals that investment decisions of women are either prodded by their spouses or parents with husbands playing a bigger role
New Delhi: Only one in three women invest on her own despite growing awareness for financial independence among women. According to DSP Winvestor Pulse 2019 Survey, conducted in association with Nielsen, only 33% women take their own investment decision, as compared with 64% in the case of men.
The survey reveals that investment decisions of women are either prodded by their spouses or parents with husbands playing a bigger role (40%) than parents (27%) in encouraging women to take investment decisions.
The DSP Winvestor Pulse 2019 Survey was conducted among 4,013 women and men across 8 cities. It’s a part of the DSP Mutual Fund’s Winvestor initiative to encourage women to take charge of their investment decisions.
“The part that alarmed me was that women are guided more by their husbands, not by their fathers,” the Economic Timesquoted as saying Aditi Kothari Desai, Director and Head, Sales, Marketing and e-business, DSP Investment Managers. “It highlights the pressing need for women to be educated very early about investing, to enhance their standing from just being good savers to great investors,” she added.
The survey found that for decisions like buying a car or house, men are the dominant decision-makers while women pay a bigger role when it comes to buying gold/jewellery, day-to-day household purchases and durables.
Only 12% women said it was their decision to invest in market-based instruments compared with 31% men. On the other end, 28% women said it was entirely their decision while buying gold/ jewellery as opposed to 17% men, the ET report said quoting the survey findings.
But when it comes to top goals, both women and men have the same choice: child’s education, dream home, child’s marriage, debt-free life and a higher standard of living. Women are more inclined towards child-oriented goals than men, while more men aim to start their own ventures and plan for retirement than women (26% & 23% for men, vs 23% & 20% for women). As many as 65% respondents said they started investing before turning 25, with 65% saying they felt children should be taught about investing before they turn 20, the survey said.
But when it comes to investment, a large number of women (39%) give planned investment first priority and adjust monthly expenses accordingly while 33% men give priority to monthly expenses over planned investments.