HZ Women Of The Month: Twinkle Jain Shares Investment Tips For Beginners

Women have always been contributors to economies around the globe. While they are earning their living, not many of them are independent because they rely on their husbands, fathers, brothers and sons when it comes to taking financial decisions.

But CA Twinkle Jain, a finance content creator, is changing the world. She is proving that women are good at money matters and the world can even learn a thing or two from them. However, she also believes that it is not just women, but most people rely on advisors when it comes to deciding where to invest and how to grow money.

In yet another live session of HZ Women of the Month on Instagram, Jain opened up about her journey as a finance content creator and shared a few investment tips for beginners.

‘Women Are Smarter With Money Than Men’

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Jain said, “Women are smarter with money than men.” She gave the example of finance minister Nirmala Sitharaman. She added that she has learnt money management from her mother.

Jain said her mother is a disciplined woman who spends judiciously. She has imbibed the same from her. Though her (Jain’s mother) risk-taking capacity was less, given she had to think about the entire family, she has budgeted, thinking of long-term plans, spending on necessities and giving thoughts on how to grow the wealth.

There are many other things that the finance creator has learnt from her mother. She prioritises her necessities and tries not to spend on things that are not required. "She (mother) is an economical person, and I have learnt that from her. I do not spend on things I do not need. I try to stick to necessities and wants."

Right after completing her chartered accountant course, Jain started investing at the age of 23. Her first investment was in a fixed deposit because it is among the safest option with guaranteed returns. However, there is no right of investing, but a person must start early. “The earlier you start, the more you can gain,” she added.

However, Jain also advised against investing under peer pressure because that can lead to mistakes. In such cases, many people look at others and start investing in options without understanding their risk appetite and taking into account their needs.

Jain also said most women in India struggle to gain financial freedom because still, the ratio of working women is lesser compared to men. The not-so-easy access to money often reduces our risk appetite, which makes us unsure about how to explore options. Moreover, when it comes to money, we all like to be doubly sure before making an investment. For example, though Jain is aware of investment options, she likes to consult her father before making any decision.

How To Begin Financial Planning?

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Jain said that a person must try to save first and then spend rather than spending first and saving later. She suggested starting investing rather than thinking too much about it.

As Millennials and Gen Zs, we like to live by ‘You live only once,’ but we also want to have a substantial amount saved for the future. In such a case, Jain advised beginning with the safest investment options like FDs. This way, a person can learn a thing or two about investment and risk appetite. As time will pass, the person can learn more about growing money and make informed decisions according to their financial situation.

Financial Tips For Beginners

Jain suggested,

• “Start saving. Don’t think too much,” she added
• Try to know where your money is coming from and where it is going
• Most people think that investment starts with big amounts, but one can start saving with as little as ₹100 or ₹500 per month
• You should choose safer options rather than riskier ones
• People should be ready to take help from experts

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Money Mistakes To Avoid

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Jain advised people not to

• spend on unnecessary things
• pay credit card bills in instalments. Always try to pay in full.
• splurge over your risk capacity
• follow everyone’s advice or replicate someone else’s investment strategy
• forget budgeting monthly expenses
• let a lack of knowledge prevent you from investing

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