Women disciplined about savings; taking charge of their money: Survey

Indian women are actively saving and taking charge of their money, with a whopping 68 per cent either managing their own finances or having an equal say in their families' financial decisions, according to a survey.

Only less than 10 per cent women leave the financial decisions to male members of the family, said the survey by Scripbox, a provider of online financial services.

Majority of the women surveyed were disciplined with monthly savings but only 30 per cent invested their money in inflation-beating financial instrument -- mutual funds.

Scripbox undertook this survey in February 2020 with over 600 women respondents across India. Of these, nearly 70 per cent were millennials, 24 per cent were GenX, while the remaining were in the over-50 years age bracket.

Interestingly, women emerged as savvy investors too, challenging the common misconception of 'women save, men invest', it said.

Breaking other commonly-held misconceptions and stereotypes, the survey found that women are actively embracing independence in personal finance matters, aided by ease of access to such information through digital channels.

"A whopping 68 percent (women) confirmed that they either manage their own finances or had an equal say in family financial decisions," the survey said