In this final real life case study that Sujata shares with us,she takes us through the case of a spendthrift client who didn’t think too muchabout saving, but worried nevertheless about a large home loan EMI that she hadto service.
Step 1 was to help her change her money equation from Income– expenses = savings to Income – savings = expenses.
Step 2 was to set aside the financial calculator thatsuggested continuing with EMIs and investing for higher returns to pre-payingher EMIs from bonuses anyway – since peace of mind was more important than anexcel sheet of numbers.
Step 3 was to encourage an investment habit gradually –small amounts in a liquid fund SIP to increased SIP amounts and then SIPs inequity oriented funds.
Today, with her home loan fully paid off and a healthyretirement corpus of Rs. 6 crores, her client can look forward to her goldenyears with confidence.
Sujata says the most beautiful thing about women investorsis to watch how they shed their under confidence and reticence on personalfinances when they work with an empathetic financial coach and how beautifullythey transform into confident, wise investors who not only benefit themselves,but spread the word around all women in their circle of influence.