Dr. Rashmi Saluja, Executive Chairperson of Religare Enterprises, offers financial advice to young girls, students, and newly working women. She suggests setting financial goals, including investments in different instruments such as health and life insurance. Saluja also encourages women to read their goals aloud every day to remind themselves of their progress.
Saluja faced challenges entering the finance industry as a woman from a medical background. However, she received complete support from her team members and overcame cultural stereotypes to achieve success.
Her personal advice is to make money work for her rather than working for money. Saluja believes that in the current era, people can leverage their money to lead fulfilling lives.
Saluja suggests that men can learn from women about the macro aspects of money, while men can focus on the finer aspects such as reducing household expenses. By doing so, women will have more bandwidth to contribute towards augmenting the household’s wealth.
Dr Rashmi Saluja, Executive Chairperson of Religare Enterprises, recommends that young girls, students, and newly working women should write down their financial goals and make plans to achieve them. She suggests including investments in different instruments and buying health and life insurance while they are young, as they will get the best deal. Saluja also advises regularly reminding oneself of the financial goals and acknowledging progress towards achieving them.
Furthermore, it is essential to understand personal finance management, including budgeting, saving, and investing, as early as possible. Developing a habit of saving a portion of income regularly can help build wealth over time. It is also essential to learn about various investment options, such as mutual funds, stocks, and fixed deposits, and choose the ones that align with personal financial goals and risk tolerance. Lastly, seeking advice from a financial expert and regularly reviewing and rebalancing the investment portfolio is also crucial for long-term financial planning.