Nearly 50% of women in metros take independent financial decisions: Survey

The survey aims on the participation of women in financial decision-making, goal-setting, saving and investing patterns, adoption of digital tools, and preferences for various banking products.

Source: Freepik

The survey results indicated that factors such as age, income, marital status, the presence of dependents, and home location are significant influencers on women’s financial behaviour.

Source: Freepik

The study unveils the financial preferences of employed and self-employed women at different stages of their lives.

Source: Freepik

Additionally, the report offers insight into the increasing empowerment of urban women in the workforce, highlighting how a woman’s primary long-term financial priorities change with age.

Source: Freepik

The report’s discoveries are important as elements such as marital status, career decisions, personal health, and unforeseen life events can notably influence the financial priorities of women.

Source: Freepik

Decisions are influenced by age and financial status. Women aged 45 and above, emerge as leaders, with 65% making financial decisions, in contrast to 41% among those aged 25-35.

Source: Freepik

The results indicated that approximately 47 percent of women make self-reliant financial decisions, underscoring the increasing financial independence among women.

Source: Freepik

As per the survey, women earning in metropolitan areas demonstrate a preference for low-risk investments, allocating 51% of their funds to fixed deposits and savings accounts.

Source: Freepik

The distribution includes 16 per cent in gold, 15 percent in mutual funds, 10 per cent in real estate, and a mere seven per cent in stocks.

Source: Freepik

The survey also reveals that 10% of female customers actively maintain a fixed deposit, in contrast to only 5% of male customers who have opened a fixed deposit.

Source: Freepik

Approximately 43% of married women with dependents allocate 10-29% of their income to investments.

Source: Freepik

Notably, Hyderabad and Mumbai lead in credit card usage, with a remarkable 96% of Mumbai women relying on them, in contrast to only 63% in Kolkata.

Source: shutterstock

Nearly 33% of individuals aged 25-35 in the study favour using UPI for online shopping, whereas only 22% of those above 45 years opt for UPI.

Source: ANI

The report indicated that UPI emerges as the favoured option among urban women for various payment requirements.

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This includes money transfers- 38%, utility bills- 34%, and e-commerce purchases- 29%.

Source: Unsplash