According to Mrin Agarwal, co-founder, Womantra, an organisation that teaches finance and investing to only to women, there are mainly four types of fear relating to money that pulls them back from taking the plunge into managing money. These are: Fear of losing money, lack of confidence that they can manage money, their insecurities if they are investing in the right place and also doubts that they may not have enough money to meet their needs lifelong, Agarwal said.
Financial planners and advisors say that these fears also pull back women from taking on a little bit more risk, and they end up investing in low-risk, low yielding financial products like bank FDs, RDs, bonds etc. Ideally they should analyse their risk taking ability and should consider investing in equities also.
According to Agarwal, there are five easy steps for women to overcome their fear about money and investing. These are: