Importance of Mutual Funds in Financial Planning
Few years ago, manufacturers of ready‐to‐eat Indian food were baffled with the poor response to their range of convenience foods. Beyond young single people, the market refused to expand to families. Their research showed that families were looking at saving time spent in the kitchen. What was going wrong? Another research was commissioned, which showed that the woman of the household preferred to add her ‘touch’ however little it may be, before serving the meal. The market for gravies and mixes thus took off. In managing our finances, several households tend to choose the do‐it‐yourself path, to their disadvantage. There may be a high in whipping up an exotic investment recipe for our households. But it suffers the same risks that an amateur cook will bring, simply because the off‐the‐shelf solution did not appeal to the ego.
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