Money and the Single Woman

Role of money in the lives of single women

At Axis Mutual Fund, we have come to realise that money is the vehicle that powers dreams and aspirations. Hence, we strive to understand our end-consumers in order to be able to serve them better.

Through the medium of Focused Group Discussions (FGDs), often used by researchers too, we aim to reach out to our consumers and pinpoint the reasons behind various trends. An FGD is normally led by a moderator (or group facilitator) who introduces a topic of interest and initiates a lively and natural discussion amongst the participants. By gathering people from similar backgrounds and with similar experiences, FGDs provide insights and opinions from the parties involved in the change process, and eventually allow us to manage the investment process more smoothly.

What does working mean for a woman?

At a very basic level, money, for these women, means independence. The fact that they can buy whatever they want without having to ask someone for it is exhilarating in itself. Money, for them, is a liberator. Roles have reversed, allowing women to buy whatever they want and even contribute to lessening the overall financial strain. Earlier, their parents used to provide for them. Now, they provide for their parents.

What do women aspire for?

Our research has shown that ‘bangla gaadi’ remain the eternal favourites among women, along with the ability to buy things for their family, specifically their parents. Still, the one thing most women aspired for even though they knew money couldn’t buy it, was an accha life partner.

Role of money in a woman's life?

Undeniably, money is very important in anyone’s life. Money is a friend one cannot afford to antagonise. To live life, one requires money. Speaking to these women helped us realize that while education is a path towards earning money, mere education doesn’t mean money for them. Money has become their symbol of self-identity and esteem, and using an MF investment app has become one of the ways they take control of their financial future.

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