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She owned her mistakes and turned around her fortune

by Money Puzzle   ·  August 14, 2021   ·  

With Siddhika Aggarwal, co-founder, Mahila Money

Siddhika Aggarwal started off having an estranged relationship with money. She only realised this was working against her when she ran into trouble with money. Instead of giving up and shying up, Siddhika took on the challenge headfirst and turned around her money mistake.

She has not only fixed it but is also using her experiences to craft a positive money outcome for countless women through Mahila Money. Watch and read about her experiences in life and the transformation she seeks to bring about through Mahila Money.

Q. What is your role at Mahila Money and what are you trying to achieve there?

A. The vision of Mahila Money is to give complete access to the entire gamut of financial services to women who are not counted in the formal workforce. We are looking at creating a digital bank for these women across the country.

Q. What attracted you to the idea of financial inclusion for women?

A. Money was always a part of the plan when Sheroes was conceptualised. This part of the plan has gotten accelerated thanks to COVID. COVID forced many women to work from home but with little idea about managing money.

Q. What draws you personally to this kind of work?

A. Growing up I had an estranged relationship. As I started earning, not only was I not saving enough, I went ahead and made a big blunder. Even though a bank relationship manager approached me for investments, I was thoroughly confused. This made me realise the need for awareness and help that other women, who are in a similar position, may also need.

Q. How did you feel about switching careers?

A. It was difficult at the start, but being with a venture like this of a start-up teaches you a lot about the responsibility you carry. It is not about instability, rather it’s about the conviction to see it through.

Q. Who helps you out with your money decisions?

A. My sisters help me out. They are all empowered, independent women and I look up to them to help me out with my money troubles.

Q. What are some money mistakes you have made?

A. Other than the credit card debt we spoke about earlier, I would say I made the mistake of not saving early enough and blindly listening to others advice when it came to managing my money.

Q. Have you now tied up the loose ends?

A. Yes, I would say I am wiser now. Other than the regular investing, I have an emergency fund, I make sure that health-related expenses are covered through the appropriate insurance and I focus on maximising savings.

Q. How has your relationship with money evolved?

A. I was not always comfortable with money, but I am now moving towards having a more positive relationship with money.

Q. How do you envision the role of money in your future life?

A. I would like to use my money towards financial freedom, covering health-related expenses for myself and my family and also to fulfil my desire to travel.

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