When it comes to taking charge of their own money, women often hesitate and rather leave it to men around them. Their hesitation into the stereotypical beliefs that women aren’t good with finances, which they have ended up internalising. Even when men in the family try to encourage women to mind their own earnings and savings, they refuse to, simply because they lack confidence. So we spoke to women from different walks of life on why they took their financial matters into their own hands and how it has changed their lives. What they have to say will resonate with a lot of women.
Homemaker Nilima Singh recalls how she her husband wasn’t into saving at all, believing in living large. “But that didn’t resonate with me as I felt this wasn’t right and we needed to save money.” So she decided to take matters into her own hand, but it wasn’t that easy. “I used to feel very insecure earlier, but later on I gained confidence. Now I do not feel any hesitation. I can go anywhere and talk about investment and finance.” In fact her savings came to her rescue when her husband fell ill. “I used to invest in small schemes and today my investments have come in handy in seeking my husband’s treatment with out any tension.”
Meena, who irons clothes for living reveals, “My husband is physically challenged, and thus unable to work. So I do it for the both of us.” Since the financial responsibility of her family fell on her, Meena took it upon herself to save as well. “I began saving money and eventually was able to save up to two to three lakhs, to be able to buy a plot. Then I started saving again, and managed to have nine lakh rupees, and was able to marry off my son.”
Bad times or good, there is never a better times to start planning your finances, as it comes can smooth over the ruffles in your daily life. Shivani Gupta, founder of Talkcharge says, “I recently got married and yes it is a happy life, but then it comes (with) a lot of EMIS too.”
Motivational speaker Abha Maryada muses, “We didn’t talk a lot about money in our house and as girls we were told that one day you’ll get married and after that your husband will take care of your finances.” But once she began investin on her own, there was no looking back. “My tipping point was that one of my investments grew up to be quite big. And in three or four years of time when I looked at my money I thought, oh god, I am sounding rich.”
To sum it up, Sakhsi Talwar, founder of Rugs and Beyond says, “Women are achievers and they are so ambitious, so why no go out into the world and earn your own money and also invest? No matter what the size of your pay check, start investing, start keeping a certain amount on a monthly basis. Start small and then take it from there.”
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