CREDAI-MCHI Women’s Wing conducted a virtual workshop for all members on 28 April,2021 with Ms Richa Shah in conversation with Ms Priti Rathi Gupta on how and why women can become financially intelligent in business families.
Ms Richa Shah – CREDAI -MCHI Women’s Wing Hon. Chairperson extended a warm welcome to all our members and participants and gave a brief introduction on the Speaker -Priti Rathi Gupta | Founder, LXME | Managing Director & Promoter Anand Rathi Group.
It was an informative and interactive session on how to transform your money with LXME India’s First Financial Platform for Women followed by a presentation with a Q & A session.
Vote of thanks by Ms Jesal Shah -Hon. Secretary.
Please find below the Key takeaways for the session the conducted by LXME under CREDAI-MCHI Women’s Wing.
Key Takeaways:
- Personal Finance equips you with the knowledge to make the right financial decisions. It is based on 4 pillars: Earn, Spend, Save and Invest.
- Investing is a method of allocating your money into various asset classes with an expectation of earning returns. Things to keep in mind while investing:
• Time Horizon
• Returns
• Principal Amount
• Taxability
• Asset Classes - Saving and Investing wisely can help you in creating wealth as well as staying wealthy. Begin investing as soon as you can and see the power of compounding.
- Five must have financial goals:
• Emergency Fund
• Term Insurance
• Health Insurance
• Retirement Fund
• Wealth Creation - Create Trust for all your goals, it’s like a ring-fencing which you create around certain assets so that your lifestyle and goals are protected. Also, each one of us should have a will to avoid future conflicts and make sure it is registered.
- We women teach our children hence we must learn to manage and grow money.
- You should have a periodic meeting with the family for going through financial matters and start managing a certain amount of money yourself!
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