This Holi, let's encourage the women in our lives to take charge of their money.
Women today are leaders everywhere, whether as homemakers who run their households and raise their families or as CEOs of Fortune 500 companies.
However, when it comes to their financial affairs, women usually tend to take a back seat. While the situation is changing slowly, it is still nascent. Let’s understand 3 key reasons why women must take accountability of their finances.
Just earning your living does not make one financially independent. You must also have the ability to manage your wealth without any dependency. Women must equip themselves with the right information and knowledge to manage their own wealth.
A woman's responsibilities in the family increase manifold in the event of a contingency, when they need to take charge of the financial affairs of their family. In such situations, if a woman does not have the right financial knowledge, the road ahead may not be easy for her and her family.
If women actively participate in the financial decisions of the family, it will have a positive impact on future generations. This will also increase the family’s financial awareness and acumen, and lead to gender parity in financial decision-making.
Women are known to be great money managers. If armed with the right qualities of being disciplined, risk-aware, staying calm under stress and taking informed decisions, women can move from just managing home budgets to becoming smart investors.