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Yesterday I was fortunate to address a group of college students. It was an online event organized by the Business Administration department from 
Velllar College for Women, Erode. The online event was attended by 125 students  and I was pleased to learn that some of the parents attended with the students.

The key recommendation I had for the girls is below. 

1. Apply PAN card

2. Open a bank account

3. Open a demat account, preferably with a reputed bank such as HDFC bank or ICICI bank.

4. Start investing in mutual funds through Systematic Investment Plan (SIP) route. SIP is regular monthly investment. You can start with as little as Rs 500 per month.

5. Try to make the monthly investment as a regular commitment and discipline. 

6. If you are very new to mutual funds, there are hundreds of them. To avoid confusion, go with index mutual funds. 

7. Index mutual funds are best of the breed, where you won’t get musled by salesmen most of the time. 

8. If you don’t know what’s index fund, type NIFTY under fund scheme in icici direct for example. It will show all the NIFTY index funds. Example : HDFC INDEX FUND  – NIFTY 50 PLAN

9. You may also open mutual fund investment directly with mutual fund company. For example. a) Go to https://www.hdfcfund.com/b) Follow new investor registration option c) After completing KYC formalities, you will be able to make your first investment. d) Feel free to call the customer service number for any queries, but ensure that the person doesn’t sell you a product or plan that you may not need. e) Start with INDEX FUND  – NIFTY 50 PLAN through SIP mode. 

10. I still recommend to invest through demat account, because it also offers you an opportunity to buy gold ETF (gold exchange traded funds) as well. 

11. Finally, don’t let any insurance agent convince your parents to put money in needless (endowment) policies when you just turn 18.

12. You can and you need to be lot more prudent & responsible while turning 18.

Financially literature girl children and female graduate can make a sensible & stable society. 

Please feel free to contact us for any queries or support. 

Post Author: Chellamuthu Kuppusamy

Chellamuthu Kuppusamy is an eminent Investment Author and Personal Finance coach.

He is committed towards improved financial literacy in the society. He continues to remark that people should be sufficiently informed about money related matters so that they don’t get misled by financial agents, brokers and salesmen. He has appeared on TV programs and his articles continue to appear on magazines.

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