Women’s Day: 80% female investors have investment targets for 2022, says survey

On the occasion of International Women’s Day, Buy Now Pay Later (BNPL) platform ZestMoney said that around 80 per cent of women investors have set goal-oriented investment targets for 2022. This, according to ZestMoney, is indicative of increased awareness among women to take control of their finances.
 
It further suggests that women prefer to not only go for low-risk investment options but also investing for the long term since ~93 per cent of those surveyed were either full-time employees or self-employed. Most preferred long-term investments, which includes, buying a house (25 per cent); securing their kids’ future (23 per cent); and retirement savings (15 per cent).
 
Among other long-term investment goals were purchasing a car, travelling and wedding. The survey also revealed that around 50 per cent of the women surveyed save anywhere around 25 per cent to 50 per cent of their monthly income.

In the case of top investment options, 59 per cent of the women surveyed prefer to invest in gold and/or fixed deposits whereas 31 per cent chose mutual funds and equities as preferred investment options. Other preferred investment avenues are real estate, recurring deposits and crypto.
 
When it comes to the preferred mode of payment for online shopping, 46 per cent of the female respondents stated that they choose EMI/ BNPL for flexibility and transparency, followed by other options such as credit and debit cards and cash on delivery (COD).
 
For women in Tier 1 cities, electronics, fashion and lifestyle are the most preferred categories in online shopping.
 
Those in Tier 2 markets, however, spent more on edtech courses and upskilling. Fashion, home décor, smartphones and travel are some of the top categories from which the respondents plan to shop in the next 6-12 months.

On the financial literacy front, a whopping 55 per cent of the female respondents said that they have a good understanding of personal finances. 57 per cent of these respondents say they get knowledge regarding personal finance from the Internet and newspapers, whereas 26 per cent looked up to their families regarding investment decisions.
 
Respondents said they wanted to gain more knowledge about topics like savings, investment, retirement plans, budgeting, insurance, personal and educational loans and credit options available in the market.
 
CEO and co-founder of ZestMoney Lizzie Chapman said, “It is interesting to note that many digitally-savvy Gen Z and millennial women are choosing to save and invest in safe and less risky investments such as gold and FDs. They are also open to investing in mutual funds and equity indicating a larger awareness about financial products. This growing trend of women taking charge of their personal finance will pave the way for their financial independence and inclusion of women in wealth creation.”

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