Women have turned out to be more determined in today’s world. They are bearing responsibilities of their family and are keeping pace with men in dealing with themselves socially and monetarily. They are successfully balancing their work life balance.
In the current scenario, with the changing times it is extremely important for women to become financially independent. Women won’t be able to overcome the male biases in this male dominating society unless & until they are financially independent.
In the recent past, the whole of India has been consciously giving a lot of attention to women issues, be it women empowerment, violence against women, gender inequality & so on. But, for as long as women remain financially dependent will these things result in their empowerment…?
Women are born finance managers. They manage the household budget very efficiently, isn’t it? Then why do women feel shy to handle money matters?
Here are a few points that can make women financially independent which takes them a step closer to empowering themselves.
Draw your own salary
Try to draw your own salary. A working woman obviously draws her own salary but a housewife can also work part time or establish a homemade business which will help her in generating income.
Know your Goals
Half the things become simpler once you have decided what is more important for you & your family. Once you start making decisions in the alignment to achieve them, you would feel much more confident about your overall plan.
Build your Savings
Try to save a certain amount regularly so that it would help you to build a corpus to achieve your goals. It is crucial to have your own savings so that you do not depend on anyone else. Moreover, maintaining & nurturing that wealth is also vital.
Don’t just save, Invest!
When it comes to investing, it is said to be a men’s territory, isn’t it? Well, as I said before, learn because knowledge is power! Women lack confidence when it comes to financial matters. Nothing is impossible, if you properly analyze your Risk Tolerances, Values, Time Span & Goals. By taking the time today to learn more about planning for retirement, you’ve already put yourself on the road to being a financially independent woman.
Think of your Retirement
In most cases, women outlive men. Thus, to avoid problems in future make sure that you are preparing to lead a comfortable after retirement life. You may think that your after retirement life would be less expensive, but our standard of living never takes a down turn!
Don’t get misled
Don’t get misled or influenced by banks, wealth managers and other intermediaries in the financial field. While it is important that you follow an advisor, it would be helpful to have some basic information of your own or you will be stuck with an investment which you may not need.
Women are always taught to lean on men’s resources. So women out there…Don’t Lean, Learn! This Independence Day make a pledge to become Financially Independent!