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Financial literacy is necessary for everyone with gender no bar, something women still have to work at, whether homemakers or working women.
Financial literacy for women is an issue not much addressed in our society. Most of us shy away from admitting that we lack in financial literacy, and many people are not even aware that this happens. A large segment of women, not only in India but abroad as well, avoid dealing with financial/ banking jargon and tasks.
Cash flow, debit, credit, insurance, loans, rate of interest, savings … too much to handle? As banks and finance is all about our money, in order to stay safe and avoid any blunder, we ask the male members to deal with a large part of it.
A recent study conducted by the Global Financial Literacy Excellence Center checked the degree of knowledge among men and women about the stock market, inflation and interest rates. The results were really disappointing and bothersome. The percentage of men was 16 percent higher than the women participated in the survey.
Among various kinds of gender gaps, this is another major kind of gap that mostly women deal with, nation / continents no bar. The incompetence in financial literacy makes women face its repercussions in their daily life. They find themselves in deep water the moment they fall in a situation that requires them to deal with their finances by themselves. This can lead to further financial complications like crossing of deadlines, defaulting of the loan EMIs, dealing with taxes and much more.
This issue needs attention and each one us must take an initiative to improve the awareness of our own finances, if we are to be truly independent.
There are several initiatives coming up lately that are imparting financial literacy and bridging the gap worldwide. Some of such organizations serving for this noble deed are – The Women’s Institute for Financial Education (WIFE), The Financial Literacy Organization for Women and Girls (FLOW), Women’s Institute for a Secure Retirement (WISER) and The Financial Women’s Association to name a few.
Women can take the aid of the free online resources available on finance. They give you a clear picture of the entire finance scenario – of things you do not understand related to your bank account. It will be a good idea to enroll yourself into financial literacy programs – a step that will empower you more than ever before. These programs help women to sharpen their basic banking, investing and saving skills.
A proper grounding in financial literacy will save you from all the tough times in life, whether you are just a housewife or a working woman. Having the knowledge of financial jargon is always something you will never ever regret.
Published here earlier.
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Women's Web is an open platform that publishes a diversity of views, individual posts do not necessarily represent the platform's views and opinions at all times.
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Mostly Normal is a book of innocence, longing, filial love, angst and acceptance, encapsulating a gamut of human emotions within its lightweight edifice. The book touches the human heart and will stay with you.
Some books enthral you till the last page, and then there are those that you stop reading after turning a few pages. Some books are a one-time read, while you carry some books with you long after you have read them. Then, once in a while, a book hits you so close to home that you find it difficult to slot into any category.
I will put Priyadeep Kaur’s Mostly Normal (BookSoul Reads, 2022) in this last bracket.
At a little less than hundred pages, Mostly Normal is a testimony of the power of words to inspire, irrespective of their length.
Most women do not get to live their lives the way they want, on their own terms. So why should they be tied down in their old age?
Every morning, while dropping the kids at the bus stop, I find a grandfather waiting with his granddaughter. I see him again when I fetch the kids. This has been the pattern for the last few years.
He is seen actively participating in his granddaughter’s activities, from morning and evening walks to attending her parent-teachers meeting, sending her for extracurricular activities to even planning her birthday party. He is admired by all. He is appreciated for making himself useful in his old age. People rave that the doting grandfather is doing his duty towards his children and grandchildren. The much-admired grandfather is also a widower, having lost his wife years ago to chronic disease. It’s also to be noted that both his son and daughter-in-law are working parents.
Every day, the onlookers appreciate his sense of duty and dedication. They say that this is how the elderly should keep themselves occupied. They should bring up their grandchildren while their children go off to work.
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