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8 Money tips for Women in 20's and 30's

# Little Savings

I am writing this post as requested by my friend.

Yesterday, I received a message, "I have gone through your posts, and it is very sensible and nice. I suggest you write a post on money management  for women. and the discussion was closed.

When I am trying to pen it out on the post, I am vague about how to start. So, called her to get her thoughts to get effective techniques for money management.

There was one question, that revolving around, why women will have less exposure to money management than men? Even I didn't, but found an answer in her words, "From this generation only, the women came out and equally competing on the jobs, education, etc., but by the time she has got the exposure, the time has gone and till now we(girls) have an agenda to marry someone and lead a life as a homemaker and didn't thought we will sustain for this long period".

Agreeing to her point, we thought, we should guide the fellow people coming in this pathway. But we have only very few references here to take you through for the useful money tips.

From our experiences, we understand that the Investment should start in the mid of the '20s. Either it may be small, try to make such small amounts to invest and let it grow.

1. Early 20's - Gold Investments or Recurring Deposits.
2. Late 20's - Big Assets
3. No EPF withdrawal
4. Mid 30's - Emergency Funds
5. Late 30's - Other sources of income.

In detail,

If we look at the options, Buying in small amounts of Gold, Recurring Deposits recommended are the best kick-start.

By the time you reach the late 20's, parents may plan for the marriage, and also you will grow in your career.
This is the time you target the big assets.
Recommend to, either start investing in land/home buying or create funds for marriage in a lump sum.
We should think here home will remain as an asset and marriage is a liability. Based on your situation, it should help to make a decision.

The one biggest mistake, I saw from the people, withdrawing the PF amount. This is a bad idea in your career. Never ever touch your EPF amount. I say, even if it is an emergency. I will say, why this has to be started early among all.

Now in the mid-'30s, we are fearful about the job consistency, so it is the best time to think about the Emergency Funds.
We need to find the Investing tools where the funds are readily available in an emergency. Fixed Deposits and Liquid Funds are the savvy for you.

When you reach the late 30's, by this time, you need to be ready with the other sources of income. Money generating assets or valued assets should be there in hand by this time. And there are so many responsibilities by this time, kids schooling, taking care of about your parents, house expenses, etc., we have very limited scope for future investments.

If you take a list of responsibilities in the late '30s,

  • Health Insurance for Parents
  • Savings for Children Education & Marriage
  • Your Retirement


A good start for taking health insurance is at least from the early '30s, apart from Office providing insurance.

For the Children's marriage, investing in SSY/PPF is one of the options. And for education, you put your amount in any investment scheme either in lumpsum or in EMI's where the growth rate is higher than 7%(more than the Inflation rate).

If you have already planned for retirement, you can spend minimal in another retirement scheme NPS/PPF.


The last but not least, the fact is the money in the Savings Account will not grow. Let's move it to the investments, where they give more returns.

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