World Savings Day: Women prefer safer investments like PPF, FDs, reveals a study

Women are active savers and prefer to put their savings in safer investment instruments fixed deposits, recurring deposits, PPF or keep money in their savings accounts, a study by digital investment platform Scripbox reveals. Having easy access to their money when they need it is a top requisite for most women. Nearly 44 percent of the women took part in the study said that this aspect is critical to them when they save or invest their hard earned money. Scripbox undertook this survey in the first two weeks of October 2019 on leading Facebook communities. Inputs were received from 400 women. Of these, 54 percent were millennials, 46 percent were non-millennials.

Creating an emergency fund topped their agenda with nearly 36 percent picking this, followed by setting aside money for their children’s education (28 percent) and building a retirement corpus (26 percent) were the other priorities. Nearly 25 percent admitted that they do not have a financial goal in mind.

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A majority of women respondents, (35 percent) save between 10 and 30 percent of their monthly income after expenses. About 10 percent save more than 50 percent while nearly 25 percent are able to save nearly 10 percent of their income. The survey explains why women still shy away from investing.

Women are "recklessly cautious":
Nearly 58 percent of the women prefer to save their money in either fixed deposits, PPF or keep in their savings account. About six percent women preferred to buy gold, while 15 percent of women picked mutual funds with their excess income.