Financial independence is paramount. My mom always says that when a woman is financially independent, she has the ability to live life on her own terms. I think that was the soundest advice that I ever got. – Priyanka Chopra, Actor
Women from all strata of society- low income group or affluent families need to be self-reliant. Empowering a woman means giving her the ability to take charge of her own life and claim her rights.
Financial independence is not only a source of confidence but it also gives women the credibility to participate in important matters of decision making, for themselves and their families.
Why should women be financially independent?
When women earn for themselves, they are immediately more in control of their lives. This is especially essential for women who live in abusive households. It has been reported that 70% women in India face some form of domestic violence.
One such form of conducting this violence is by using ‘controlling behavior’ by restricting access to financial resources.
Hence, women who face abuse often have no alternative but to continue living in the same house with their abuser as they are not financially independent. And in situations such as these being free to make their own choices makes a huge difference.
Why is it imperative?
Women today are excelling in areas like the arts, sports, governance and also pursuing the professions of their choice. Yet when it comes to handling their finances, most women depend entirely on the men in their lives.
This tendency branches from the lack of confidence in their own ability to manage finances well. However, nothing can be more wrong; women are equally good if not better at making sensible money decisions.
Women generally are more liberal than men about seeking and getting help. So, select a good and trustworthy financial advisor. A good planner will focus on your goals and risk behaviour to make a goal-based financial plan, and help you stay focused to achieve those goals on time.
Let’s help each other achieve this
Recent campaigns such as #Heforshe or #ShareTheLoad – advocate gender equality and exemplify the changing ideologies in our society on a national level.
Locally, we can help each other by speaking about it; maybe guide someone to take control of their life by putting their finances in order. We can do this by conducting talks and specialised workshops or sessions for women who want to start their own business or expand their existing ones. By providing each other a helping hand or sharing our knowledge, we could provide key tool and resources to many who need them.
We need more independent and empowered women. Supporting women to be financially independent is a key step towards that. May our tribe increase!