Only 27% of women take their own financial decisions; reveals third Neo-Realty survey by MYRE Capital

06-03-2023

On International Women’s Day, MYRE Capital releases third edition of the MYRE Neo-Realty Survey to understand the investment behavior and financial decision taking pattern of over 5200 women across Tier I and Tier II cities

Only 64% women currently invest and their top three preferred assets are – FDs/RDs, PPF & NPS and Mutual Funds. 79% of the investing women would like to also invest in Real Estate.
Of the women who invest, only 27% of women take their own financial decisions, with 54% relying on spouse/friends/family members and 19% let their decisions be based on advice from financial advisors/fund managers
47% women look to invest for the long-term (3+ years) and 39% for the mid-term (1-3 years)
About 36% women do not invest either due to lack of funds or because they do not understand investing
MYRE Capital aims to bring women to the forefront with their awareness initiative #HerFinanceFirst

Bangalore, 6th March, 2022: MYRE Capital’s Third Neo-Realty Survey conducted among 5200+ women revealed that around 64% women are investing in one or more assets towards becoming financially independent (73%) and to create a passive income (64%). The most preferred asset class for women across the nation were Bank FDs/RDs along with PPF/NPS & Mutual Funds. About 42% of women (2185) who participated were in the age group of 25-35 and 33% of women (1724) belonged to the age group of 35-50 years. The survey reveals an increased interest towards high-yield alternative fixed income investment products such as real estate and corporate bonds with 79% and 63% women respectively aiming to invest in these asset classes.

Some of the other insights from the Third Neo-Realty Survey were:

77% women are handling their own financial accounts but only 27% are taking their own financial decisions
31% women are not at all involved in financial decisions in their houses. However, when we dive deeper into income-based statistics, 88% women with income above INR 12 lakh participate in financial decisions indicating an increase in confidence and capability with a decreasing income parity at home
42% of investing women confessed that they do not understand the difference between risk tolerance and risk appetite
36% women do not invest either due to lack of funds or because they do not understand investing - The analysis highlights that this behaviour is more prominent (43%) in women from income group under 12 lakhs
Top goals for investing for women are Financial Independence (73%), generating a Passive Income (64%) and Retirement (60%). Interestingly, unmarried women prominently show inclination towards investing for foreign/domestic travel plans (40%)
47% women prefer to invest for the long-term (3+ years) and 39% for the mid-term (1-3 years) in diversified assets

Demographic Mix of the survey:

84% women who participated were from Tier I cities like Delhi, Mumbai, Bangalore, Hyderabad, Chennai & Pune
42% women were between the age group of 25-35 years of age and 32% were from 35-50 years of age
64% of the women in this survey earn less than INR 12 lakh annually and 30% earn more than INR 12 lakh annually

Thus the survey reveals that although the women in Metro cities are earning, they still lack proper financial awareness and need guidance to take their independent financial decisions. MYRE Capital is trying to bridge this gap and has therefore launched their initiative ‘#HerFinanceFirst’ wherein the company aims to educate women about handling their own finances and the importance of investing for the future.

Aryaman Vir, MYRE Capital’s Founder and CEO said, “The main objective of conducting this survey was to try and understand the ground reality of how women are taking their financial decisions and their investing pattern. While we do see increased participation from women investors to invest across all asset classes, however majority still rely on friends/ spouses to take financial decisions. This is where we want to step in and announce our initiative ‘#HerFinanceFirst’. Through this initiative we want to bring women to the forefront and educate them on how to handle their own finances and why right investing for the future is important. We will roll out corporate level and hyper-local community level awareness programs and both online and offline seminars in Tier-1 & 2 cities initially and also explore synergies with some NGOs who we can collaborate with to multiply the impact.”

Nitin Virmani, Head of Marketing, MYRE Capital said, “The 3rd edition of our Neo-Realty Survey reveals, women investors showing an increased interest towards investing in real estate and high-yield corporate bonds which shows that women are open to alternate investment avenues but need proper guidance to take the plunge. We aim to reach out to nation-wide women with our initiative and guide them in their journey to become financially independent. Our goal with #HerFinanceFirst is to equip women with correct financial knowledge to take apt investment decisions independently.”

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