We ask working professionals how they manage their money. As part of this series, we spoke to two young women and got wealth experts to evaluate their financial plan of action.

Is their money working hard, enough? Let's find out!

MANASI Deshmukh, 25, an HR professional with a BPO company in Mumbai, saves Rs 15,000 from her take-home, every month.

She invests this amount in 'safe' avenues such as National Savings Certificate (NSC), Public Provident Fund (PPF), infrastructure bonds and life insurance policies offered by the Life Insurance Corporation.
"I usually invest at the end of the (financial) year, when it's time to save tax," she confesses.

Maya Kumar, 27, another young turk from the IT sector, saves around Rs 17,000 per month. She predominantly invests in PPF. She also puts Rs 5,000 every month, in a bank recurring deposit. Maya's total investment works out to approximately Rs 150,000 (Rs 1.5 lakh) per annum. The rest, lies idle in her bank account.

Is your money wasting time in a bank?
Yes! Here's why. "Though the recurring deposit is a good saving habit, the interest you receive on it, may not be enough to cover inflation," says investment consultant Sandeep Shanbhag. Both Manasi and Maya should invest their money, aggressively, in equity.

"The only time you can take advantage of equity without sweating at the risk level, is when you have at least 10 to 15 years before you retire and no family responsibilities ," he adds.

• How to earn more on your savings account!

Photograph courtesy Allen Solly
(Photograph used for illustrative purposes only)

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