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Life Goals Of Women Lack Sufficient Financial Planning Says Survey

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Life Goals Of Women Lack Sufficient Financial Planning Says Survey
Himali Patel - 05 March 2020

Mumbai, March 5: Indian women actively participate in conversations around financial planning and investments at home, but when it comes to decision making, they do not get involved thereby impacting their financial future, reveals Bajaj Allianz Life Goals Preparedness Survey. For instance, around 53 per cent of women’s life goals lack sufficient financial planning and that makes more than 50 per cent of their life goals difficult to achieve, says the report.

“Indian women actively participate in conversations around financial planning and investments at home, but do not get involved in decision making, thus, impacting their financial future. Whether one is single, married, divorced, or widowed, financial planning and investment should be on top of the list of things that women need to get involved with. This will not only empower Indian women, but will also help them to secure a better financial future,” the survey points out.

However, when it comes to health and wellness, the survey highlights that more than 40 per cent females aspire for health and fitness related goals, which is 25 per cent higher if compared to men. Further, the mental and physical fitness constitute the top 5 goals for women as 1 in 4 females aspires to be physically and mentally fit, which is 44 per cent higher as compared to men. Also further the survey reveals that women love exploring new places as one in every three women wants to travel to new locations, and this is 26 per cent higher compared to men.

As per the survey, friends, family members and elders form key influencers for any particular life goal, as more than one in two life goals are influenced by them. When talking about influence, the social media influence on women is higher than men. For women, 20 per cent of their life goals are influenced by social media versus 17 per cent in men. “One in every four life goals of women are influenced by books, this is 42 per cent higher compared to men. Movies also play an important role in influencing their life goals. One out of every five goals are influenced by movies. This is 67 per cent higher compared to men,” shows the survey.

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