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The author suggests that for their financial well-being, women should follow these three resolutions this new year and become independent and secure.
Dear Women,
A few days into the new year and I am sure you have (or have not) made resolutions. The array of goals from the women I know encompasses everything from losing weight, prioritizing themselves and travelling more.
One key aspect of our lives that we neglect as women is Financial Well-Being.
So here’s a little cheat sheet for you to look at for greater financial security and independence:
This year, instead of blindly trusting your father, husband, CA or friends – ditch your finance phobia and get an understanding of where your money is going. Many women are socially blindsided into being only concerned with spending/budgeting and not saving/investing. 2019 can be the year when you research, read and ask questions. You have the biggest right to your money and to ask any questions. So whether it is filing your ITR or trying your hand at Mutual Funds – Reclaiming financial control should be your theme. There are websites like Jaagoinvestor and freefincal that help you take baby steps. Try!
Already financially savvy? How about adding an added source of income? If you are a homemaker, student or a professional – the gig economy offers many, many alternatives. From freelance writing to transcription to translation or putting out your recipe on YouTube and Influencer – the world wide web gives us great opportunities. So earn something on the side as pin money that you can invest in – either on yourself or in a financial asset.
2019 can be the year of protection. Take time out this year to invest In life insurance (if you have children/dependents) for atleast 10 times your annual income. Only take term insurance and stay away from any market linked insurance scheme. You should also cross check health insurance that your employer provides and take a comprehensive health insurance policy – do read the fine print, ask questions and ensure everything is taken care of. Lastly, make sure that this year, everything from your savings account to your investments has a list of nominees.
Choose one or multiple of these three easily achievable tiny goals this year and take one step towards being financially knowledgeable, independent, and safe.
Image Source: Pexels
Ayushi Mona co-leads Broke Bibliophiles Bombay Chapter, India's first offline reader driven community. She is a poet and writer who evangelizes Indian writing in English at the India Booked podcast and has also read more...
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If her home and family seem to be impacted by her career then we expect her to prioritize her ‘responsibilities at home as a woman’ and leave her job.
The entrenched patriarchal norms have always perpetuated certain roles and responsibilities as falling specifically in the domain of either men or women. Traditionally, women have been associated with the domestic sphere while men have been considered the bread winner of the household. This division of roles has become so ingrained in our lives that we seldom come to question it. However, while not being questioned does give the system a certain level of legitimacy, it in no way proves its veracity.
This systematic division has resulted in a widely accepted notion whereby the public sphere is demarcated as a men’s zone and the private sphere as belonging to women. Consequently, women are expected to stay at home and manage the household chores while men are supposed to go out and make a living with no interest whatsoever in the running of the household.
This divide is said to be grounded in the intrinsic nature of men and women. Women are believed to be compassionate, affectionate and loving and these supposedly ‘feminine’ qualities make them the right fit for caring roles. Men, on the other hand are allegedly more sturdy, strong and bold and hence, the ones to deal with the ordeals of the outside world.
Investing in women means many things beyond the obvious meaning of this IWD2024 theme, as the many orgs doing stellar work can show us.
What does it mean to invest in women?
Telling the women in our lives how great we think they are? That we value the sacrifices they have made? (Usually though not necessarily only – a sacrifice of their aspirations, careers and earning potential in order to focus on family).
No, thank you. Just talk is no longer going to cut it. Roses and compliments are great, but it’s time people, leaders, organizations put their money, capital, resources on track instead.
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