To celebrate Diwali this year, IWB thought it would be nice to hear stories of working women who are on their way to attain financial independence. If you are seeking a professional guidance on managing your money in a better way and becoming the Lakshmi of your life, our campaign Lakshmi’s Money Diary might just help you! 

We asked 5 Indian women to maintain a journal and record their everyday expenses for a week. After 7 days, our Finance Expert Priyanka Bhatia, co-founder Women on Wealth & WOW Money Gym, will study their spending habits and saving rituals in order to counsel them. Priyanka will reveal exactly what stops these women from becoming financially self-sufficient and how they can fix the problem.

But before we understand the limiting beliefs that hold most Indian women back, let’s introduce you to these working women who’re a part of our campaign.

Yashita Ratra, Insurance Bank Executive in Mumbai

Age: 27

Salary:  Rs. 48,000/- per month

Home rent: Rs. 25,000/- per month (20,000/- funded by the company)

Mobile bill:  Rs. 350/- per month

Conveyance:  Rs. 2,000/- per month

Miscellaneous: Rs. 10,000-15,000 per month

Savings: 12,000/- per month

You’re getting married in less than a week! Excited?

Too much!

We admire your enthusiasm for learning a trick or two about money-management in such a short time period.

I know, right? I’ve had some golden days as a singleton, but now that I’m getting married, I need to fix some of my habits to run a house and family resourcefully.

What are you looking forward to learning?

After marriage, my husband and I will be required to manage two salaries in the best possible manner. From shared expenses to additional responsibilities, we’re definitely going to need a plan. I also want to learn how much we, as a couple, should save ideally.

Till now, what strategy have you been following?

Since I understand insurance quite well, I prefer investing in Mutual funds. Every month, I positively deposit at least 8k into it.

This is a long-term saving plan, what about the short-term ones?

*laughs* Well, that would mean our honeymoon. We’re all set for our first vacation and don’t really have to worry about the budget as of now. However, for the next year, we’ve made a target of saving at least Rs. 2 lac for a bigger vacay. Fingers are crossed!

You sound like a perfect planner!

I plan to splurge. *laughs*

What about the husband?

Believe me when I say he requires more finance management classes than I do. His savings account needs a transformation. *laughs*

Did you discuss with him the kinds of responsibilities you’ll take up after marriage?

Yes, we often talk about it. Since I get a home allowance from my company, I’ll take care of the house rent. I will also handle the grocery expense. The husband will look after the electricity bills and car maintenance.

We’re super happy for Yashita and wish her all the best! To know what her money diary reveals about her, keep an eye on the page! Meanwhile, read the stories of other participants Kruti Jhaveri, Lavvanya Iyer, Anita D’souza.