In India, mindsets are shifting. Women are no longer expected to only manage households. Women are reaching the peak in every aspect of life, in every way. One thing that women still lack is money management. Women are encouraged to be educated and independent. However, not much focus is given to financial literacy and money management.

We can all agree taking control of one’s finances is a crucial life lesson. Money management plays a huge role in successful and smooth functioning of life. Pandemic has been an eye opener in making us realize the impact health crisis combined with economic upheaval can have on our lives.

If you know how to harvest, you can cultivate a garden. If you teach the women in your life how to harvest, you can nourish and grow a flourishing & prosperous garden.  Together you can make a delicious lunch. You cannot grow money on trees but you can surely seed in investments that will grow for you. Empower the women in your life to hone financial literacy and take charge of their money.

Motivate the women to learn and confidently navigate the financial journey.Here’s why you should help the women in your life achieve financial freedom. Read on….

1. Knowledge is the new rich

As cliché as it may sound, Knowledge is limitless and empowering. Right knowledge can help women transit from fear of failure to confidently managing money and growing it. As the famous proverb goes, ”If you educate a man you educate an individual, but if you educate a woman you educate a family (nation).” – Dr. James Emman Kwegyir Aggrey.Teach the women in your life about financing, how important it is, and how it plays an important role in shaping one’s life.

2. Answer the how-to

Talking about finances at home, to mother, wife or daughters isn’t widely practiced. Be the change. Why let your family suffer in your absence. If you teach them about money management, no matter what the circumstances, your family will confidently be able to get through it. It is not a choice but knowledge that should be imparted.

3. Access to opportunity

Working women or homemakers, knowing about family finances is important. When women learn to manage money, it opens the door to many opportunities for them. They are now competent, intrigued about investment strategies and strive towards a common goal – financial freedom. 

4. Investing in self, pays the best interest

Just like character, if there’s one thing that cannot be taken away from a person would be literacy. When you encourage the women in your life to become financially empowered, you’re giving them the roots to strengthen family finances as well as wings to grow out of their cocoon. After all, there is no instrument that pays better interest than the investment made on self. Help the women in your life to learn, survive and thrive with much needed financial abilities in current times.

5. To meet the rising cost of living

Inflation, as we all know, has risen noticeably in the last few decades. To own a decent home, send your kids to a good school and live an above average standard of living has become very high. Hence, 2-income households certainly fare better. Women who are financially independent can not only contribute to the everyday expenses of the household, but also help to meet the family’s financial goals.

6. To feel responsible and boost morale

 Financially independent people are capable of taking their own decisions and don’t have to depend on anybody. This increases their self-respect and makes them more confident to face any kind of situations in life. Many women from conservative backgrounds with dreams and aspirations depend on their partners or parents for their fulfilment. Being financially independent, will enable them to self-sufficiently fulfil their wishes – enhance their skill-sets, go for a trip with friends, or even buying things that they want and so on.

7. To be a role-model

 A woman who can support the needs of the family financially, socially, emotionally and so on is a role model for her children to show them that gender bias is created by the society and doesn’t mean anything when a woman is strong, confident and sure of herself. The children learn from what they see. If kids see that their mothers are financially independent, they will also understand the value of money and be inspired to be self-sufficient in life when they grow up.

It is extremely important for all women – be it married, single, separated, widowed or divorced to be financially independent. However, it is important to have financial independence with financial security. A monthly pay cheque in your bank account alone cannot render you capable of meeting all of your financial goals. It is how you plan and manage your finances which will result in fruition of goals later in life.