Personal Finance Awareness Workshop
‘Women and Money’
-Shilpi Johri, CFP, MBAHead & Financial Planner, ArthaShastra Consulting
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• 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
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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
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Do you track your monthly expenses?
•Define your goals with date and amount
•Measure your expenditure: prepare a Budget!
•Contingency Fund
Expenditure
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Are you saving enough?
•Savings Income – Expenditure
•Expenditure = Income – Savings
Savings
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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
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Various Investment options
•Gold
•Fixed Deposits
•Mutual funds
•Property
•PF and PPF
•ULIPs
•Stocks
Investment
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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
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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
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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
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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
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Retirement is doing nothing without worrying about getting caught at it!
Women never retire! Know your Net Worth each year.
Retirement
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Pay yourself first!
Invest in yourself
!
Take care of your health
Learn new skills
and informati
on
Make Online
presence
Pursue your
hobbies
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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
Comprehensive Financial Planning
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What is Comprehensive Financial Planning?
Comprehensive Financial Planning
Analyzing your current situation
Qualifying and quantifying your
goals
Scenario analysis
Action plan and recommendation Monitoring
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Your involvement in family finance
Educate Yourself
Blogs and Websites
Outlook Money or ET Wealth
Make Personal Finance Clubs
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
Comprehensive Financial Planning
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
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