Finance does not need to be daunting. Many of us are concerned with numbers and budgets, but when you break them down, they aren’t as intimidating as they appear. On National Women’s Day (February 13), Livemint spoke with female entrepreneurs who stressed the significance of risk management and long-term financial planning.
Long term vision
Baruah also emphasizes the significance of investing for the long term. While it may appear little at first, she points out that each gift accumulates over time, eventually generating enormous wealth for the future and alleviating financial stress.
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Preety Singh, Co-Founder and Managing Director of Boomlet Group, believes that smart cash allocation and excellent working capital management are critical for long-term success. She advises taking controlled risks since they lead to growth and financial savvy.
Financial awareness
Megha Chopra, an entrepreneur and poet, emphasizes the need of financial awareness. Understanding investment intricacies, budgeting, and cash flow management is critical for making sound decisions, particularly in entrepreneurship.Â
“A number of successful female company entrepreneurs emphasize the need of financial knowledge. Anyone looking to build a long-term business must understand the complexity of investing, budgeting, and cash flow management. Financial literacy provides a solid basis for making sound decisions and navigating the hurdles of business,” remarked Megha Chopra, Entrepreneur and Poet.
Consistency is key
Rachna Baruah, Founder of Madchatter Brand Solutions, emphasizes the importance of consistent savings. “It could be a fraction of what you would save elsewhere in an ideal case but consistency assists in building habits and a balanced portfolio in the long run,” said Rachna Baruah, a financial planner.
In India, February 13th is commemorated as National Women’s Day in commemoration of Sarojini Naidu, often known as ‘The Nightingale of India.’ Naidu’s significant involvement in the Indian independence struggle, as well as her support for women’s rights, garnered her this honor. Her impassioned comments and courageous personality struck a chord with many people, especially women, cementing her reputation as a symbol of empowerment across the country.
