Welcome Finance Enthusiasts !!

In India, females are viewed as care takers and nurturers. They are not included in money matters, they are assumed to be indecisive, reckless and unaware. On the contrary women manage the household. They take care of everyone’s needs, budget the expenses but when it comes to owning her money or investing it she is dependent on the male members of the house. It is high time we change the age old stereotype and start a cultural shift.

Below are a few baby steps in the journey towards financial independence:

📌Get your own bank account

For starters get your own bank account. Open an account in your name, not a joint account but a single account. It is a crucial step where you are not answerable to anyone about the money. You disable others to use your money without your permission.

📌Join the workforce

I’m aware that all women in India are not allowed to work. If possible take up remote jobs which you can do from your home. Tailoring, tiffin service, real estate broker, trading, online jobs just pick your niche and start earning. If you are already part of the workforce stay at it. Don’t let anyone tell you that you are not required to work or they can take care of you. Independence is always the endgame.

📌Save for yourself

In case you are the breadwinner of the family then keep aside an amount for yourself. Not for your child and parents but for yourself. Having money for yourself gives you a sense of confidence.

📌Understand money management

If you are a working woman, understand the salary structure. Learn about investment, money management, just go down the internet rabbit hole and get all the knowledge that you can lay your hands on.If you are a home maker save some amount from the home budget. Use the money to keep a FD in your name and start a SIP with advice from a financial advisor. Start small but stay in the game for the long term. Compounding will do its magic.

📌Confidence

Being the master of your money gives you confidence and self worth. You can prioritise your well being and have the power to make choices. Choice to walk away from a toxic environment, quit an unfulfilling job or start afresh.