Why is it that it is often believed that men are the only ones who know how to handle personal finances? Why do so many women delegate their financial security to a spouse or significant other. They allow divorce or death to plunge them into poverty. Why do so many women spend more than they earn and become mired in debt? We are talking about the need to Plan Personal Finances.
We’re no longer living a historical era where the man of house is the sole bread earner. There are women who earn their own money. They should start talking about their personal finances. They also need to start making their own decisions regarding savings, expenses and investments. Importance of the need to Manage and Plan Personal Finances
1) Track your personal finances, whether you spend small amounts on groceries and transportation. Or even larger amounts on, say, education.
2) Analyse this income versus expenditure. It is also important to ensure that you are saving a reasonable amount of this income.
3) Controlling your expenses and maintaining a balance is the key to efficiently handling your finances.
The PS Show engages with Subramanya SV, to discuss how to plan, manage your personal finances. Catch more about this topic in the wealth section.
Subu was a venture capitalist at Bessemer Venture Partners where he led the firm’s technology investment activities in India. He served on the boards of Snapdeal, Bharat Matrimony, TaxiForSure, Nephroplus and many others. Subu holds an MBA from IIM Ahmedabad and Bachelors degree in engineering from Mysore University. Currently he is building the fisdom app.