For Vrinda, 36, her go-to for financial advice was a group of colleagues known to be smart investors. Once a strong advocate of them, she now cautions others against such groups.
Like many women, Vrinda had never learnt about money management and kept out of financial conversations at home, with her partner preferring to keep family finances under his control. Constant investment chatter at work eventually prompted her to start investing. The group was investing in cryptocurrencies at the time. Unfortunately, the platform through which she invested suffered a hacking incident and she lost her capital.
Burnt by the experience, she stayed away for a while, only to return to investing through high-yield corporate bonds last year. Only after hearing about a recent corporate bond default did she research further and understand the risks. Vrinda’s story is not unusual. Many women quietly navigate similar financial challenges, often relying on familiar circles for financial advice due to lack of knowledge and trusted sources to check queries.
Online communities offer easy access to information, but are filled with unverified opinions and trend-driven recommendations — not advice tailored to individual needs. For instance, offering small discounts on services or encouraging ₹10-a-day savings plans won’t help create long-term wealth. Experience with phone groups is poor — many lack verification and transparency, often operating like Ponzi schemes. Social media is filled with 1-2 minute content, mostly tips — not long-term wealth-building advice.
Women often fall prey to promises of high, guaranteed returns from ULIPs, corporate bonds, fractional property investments — or unregulated schemes like gold savings plans from jewellery shops or quick-return trading strategies. Much of this is driven by the urge to catch up, or prove they can generate good returns.
But investing rarely rewards haste or comparison. One must step back and approach decisions rationally — understand the product, assess the risks and align the investments with one’s financial goals. Instead of reacting to noise or pressure, investors must pause, ask questions, verify the sources and rely only on sound financial principles.
Women can build smaller support circles with peers committed to learning and making informed decisions. Such circles can be spaces to discuss ideas, share resources and question investment opportunities before acting. Equally important is finding a credible financial advisor to work with the group.
For years, many women have been accustomed to signing financial documents without fully understanding them, largely because they were not included in financial decision-making. This is especially true of loan documents, which can place legal liability on the woman as a co-borrower. Even in investments, women sometimes sign up for products without questioning if they align with their needs.
Take time to read, ask questions and fully understand financial documents. It should not be seen as a burdensome task, but as a mandatory step in decision-making, as women are frequently targets of digital fraud due to low familiarity with financial products, digital platforms and fraud tactics.
Unknown links via messages or social media promise investment opportunities, rewards or urgent updates. Another tactic involves messages promising instant loans or exclusive deals, prompting individuals to share sensitive information such as card details or OTPs. Scammers may also impersonate bank or regulatory officials, claiming to resolve an issue or update KYC details.
To stay safe from digital frauds, women can follow three simple mantras: avoid clicking unknown links or responding to suspicious calls, never share financial information and limit public details.
Vrinda’s story shows the most powerful financial decision a woman can make is taking ownership of her choices. This Women’s Day, move from merely signing to questioning
The author is a financial educator, founder director of Finsafe India Pvt. Ltd and co-founder of Womantra
Published in Live Mint | By Mrin Agarwal
Date: March 08, 2026