Financial Planning At Your Fingertips - Tavaga Shows You How
Last updated
27 Nov 2016 . 5 min read
The idea to have the right financial goals struck a chord with a few friends of mine and me, some years ago. I was a harried corporate lawyer, caught up in my tiny circle of work and more work. Rent and going out would eat away most of my salary. I realized that I needed to start investing for the all the things I wanted. I became the first from the team to leave my job and work full-time on our startup. My work in and knowledge of law was extremely useful in helping us evaluate the idea and set up the initial infrastructure for our business.
As a woman who was, until recently, reliant on my parents for my financial well-being, I felt that it was time to take control. As I started doing my research and making my own investment decisions, I saw that my confidence in handling my finances skyrocketed.
Money is power. For far too long, it is the men who have had exclusive access to both. Though the ratio is changing, a lot is yet to be done. When it comes to investing and money, the disparity between men and women remains abysmal. If you are a couple speaking with a financial advisor of any kind, it is very likely that the advisor engages mostly with the man more than the woman.
Note the social conditioning of women vis-à-vis investing too. We are not primed and expected to necessarily handle the money that we earn, or spend it right, or invest it smart. The media is constantly telling us that men are better at mathematics, or that we are naturally more ‘risk-averse’, or that we need more help with investing. Overall, women are viewed as the more gullible of the sexes especially when it comes to money management.
Despite all of this, women are the financial decision makers of most households. By not investing smartly, we surrender our power to quit bad jobs and leave unhappy marriages. Smarter investing also helps us achieve our goals such as starting businesses, educating our children better, buying homes and a comfortable retirement.
With the recent demonetization, women have been further disempowered. A number of women who fall outside the organized labour force have been pinching pennies and saving them. In one fell swoop, the government just made all of them worthless. What does this mean for Indian women?
Historically, gold has taken up a large chunk of Indian investment portfolios. Given a general affinity for jewellery among women, Indian women are some of the largest consumers of gold today. Demonetisation has resulted in more physical gold being bought. Smarter investors, however, are investing in gold based market instruments, like exchange traded funds (ETFs).
Hence, Tavaga.
At Tavaga, we believe everyone can and should be in control of their own financial destiny. It is a personal investing app that lets you invest for and track your goals. We strive to achieve this through a clean and easy-to-use interface which keeps the focus on the things that you are saving for.
Before you start investing, you should always have an idea of, the fact that how much market risk you are able and willing to take. Tavaga helps you find this out through a market simulation that is fun to play.
Once you have played the Investor Attitude Simulation, you are then prompted to set up your financial goals.
Let’s say you have an eye on some jewellery that you want to buy but that jewellery will take some saving up to do.
First, you pick it from our goal templates.
As a woman who was, until recently, reliant on my parents for my financial well-being, I felt that it was time to take control. As I started doing my research and making my own investment decisions, I saw that my confidence in handling my finances skyrocketed.
Money is power. For far too long, it is the men who have had exclusive access to both. Though the ratio is changing, a lot is yet to be done. When it comes to investing and money, the disparity between men and women remains abysmal. If you are a couple speaking with a financial advisor of any kind, it is very likely that the advisor engages mostly with the man more than the woman.
Note the social conditioning of women vis-à-vis investing too. We are not primed and expected to necessarily handle the money that we earn, or spend it right, or invest it smart. The media is constantly telling us that men are better at mathematics, or that we are naturally more ‘risk-averse’, or that we need more help with investing. Overall, women are viewed as the more gullible of the sexes especially when it comes to money management.
Despite all of this, women are the financial decision makers of most households. By not investing smartly, we surrender our power to quit bad jobs and leave unhappy marriages. Smarter investing also helps us achieve our goals such as starting businesses, educating our children better, buying homes and a comfortable retirement.
With the recent demonetization, women have been further disempowered. A number of women who fall outside the organized labour force have been pinching pennies and saving them. In one fell swoop, the government just made all of them worthless. What does this mean for Indian women?
Historically, gold has taken up a large chunk of Indian investment portfolios. Given a general affinity for jewellery among women, Indian women are some of the largest consumers of gold today. Demonetisation has resulted in more physical gold being bought. Smarter investors, however, are investing in gold based market instruments, like exchange traded funds (ETFs).
Hence, Tavaga.
At Tavaga, we believe everyone can and should be in control of their own financial destiny. It is a personal investing app that lets you invest for and track your goals. We strive to achieve this through a clean and easy-to-use interface which keeps the focus on the things that you are saving for.
Before you start investing, you should always have an idea of, the fact that how much market risk you are able and willing to take. Tavaga helps you find this out through a market simulation that is fun to play.
Once you have played the Investor Attitude Simulation, you are then prompted to set up your financial goals.
Let’s say you have an eye on some jewellery that you want to buy but that jewellery will take some saving up to do.
First, you pick it from our goal templates.
You can then name and personalize it – it IS your money after all.
Tell us how much you want.
Is there a special occasion you need it for? Tell us when that is.
We ask you to confirm it.
You can always edit your goal.
And your goal is all set up and ready to go!
Download the app now!
Written by - Niharika Rao, Co-Founder - Tavaga
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