‘Women Need Seats At The Table,’ Says Priti Rathi Gupta In Exclusive Chat With HZ

Priti Rathi Gupta was only 17 years old when she entered the world of finance, and today, she runs India’s first financial platform for women. LXME is where women can not only learn to take charge of their finances but also invest and grow their money.

Financial independence for a woman is such a broad topic that a singular debate, thesis, book, or article cannot summarise all of it at one go. While we can talk about the importance of financial independence all we want, the most crucial aspect today is to motivate women and make them aware of ways to take control.

In a patriarchal world, most women, even today, are dependent on their fathers, brothers, husbands, or sons when it comes to spending, investing, or saving money. Gone are the days when homemakers used to hide a handful of cash in their kitchen cabinets or obscure dabbas. After demonetisation, this has proven to be an inconvenient and dubious method.

However, this age-old practice shows that women have always been wary of saving money for a rainy day. With digitisation, it has become easier for women to take control of their money, invest it, grow it, and spend it according to their choice.

Who is better equipped to make women aware of money than a woman who has been in the finance industry for more than three decades? We spoke to entrepreneur Priti Rathi Gupta about where to invest, when to start investing, and how to achieve financial goals, and become financially fit.

Digitisation Allows Personalised Investment

Gupta says every person has different goals. When it comes to women, they want a platform that can offer them personalised options. If we need to make women financially independent, we need to cater to the requirements of each rather than offering them a one-fit-for-all solution.

According to Gupta, digitisation has played one of the biggest roles in making women realise that they can control the flow of their money. It has made transition, saving, and investment easier than before.

It has brought financial freedom, allowing women to support their families. With dynamic changes in technology, the aspirations of women have changed drastically as well. Gupta says that initially a woman’s world revolved around her family and kids, in fact it was encouraged to be that way. But today, women want to have a life outside of that too.

“It is a wonderful thing,” she confessed. Therefore, being financially free is more important now than ever. “Whether you want to travel, have a meal with friends, buy clothes or do anything in this world, if you have control over your expenditure, you are not answerable to anyone,” she added.

Life Goals

Gupta says that women can start investing as early as possible. However, 18 years is the appropriate age to start saving money, even if it is as small as ₹100. Everyone must keep aside 20% of their salary for investment.

The businesswoman says that investment can be divided into three basic life goals - emergency fund, retirement, and education. An emergency fund should be enough to get an unemployed person by for six to eight months.

A woman can start investing in a retirement fund as early as possible. The sooner you start, the richer you will retire. The best option is a mutual fund. An education fund is a good option if the woman has kids. Since studies have become so expensive, it is crucial to save some for children.

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Women Need To Come To The Table

When talking about women leaders, “It seems a far-fetched dream. Though there are many women who are running businesses, their number is quite few, when compared to men.

She pointed out that from 2008 to 2017, the number of women in the workforce fell. “It is a pretty sight in our mind and a good topic for debate, but we still have a long way to go when it comes to seeing women walking shoulder to shoulder with men.”

To make this dream a reality, Gupta said that the ecosystem of companies has to change. Employers have to change their policies and hire more women into the workforce.

She also stresses the need for women to motivate other women to take a seat at the table. “Instead of pushing each other down, we have to pull each other up.” Lastly, she stresses how women have to support other women.

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One of the most crucial pieces of advice for women by Gupta is to be mindful of expenses. You must know about savings, but more than that, you must know how to grow that saved money. It is a life skill that everyone must know.

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