With India producing inspiring women leaders, sportswomen and now entrepreneurs, it is all the more important for women to become financially literate and independent
India recently completed The Great Indian Budget circus. Budget has become one big annual event – media, corporate honchos, analysts and of course social media, discussing its impact on the economy, businesses, rural India and the common man. These discussions led me to think – how does budget impact the common woman?
Does a common woman make her own budget? Plan finances? The answer for city dwellers and working women like me lie in our offices. Its time of the year when you see many colleagues, including women, running like headless chicken to show investment proofs. Do I have the rent receipts? Have I made investments at all? Must confess I am also a part of this gang.
This ignorance or disinclination largely came from the fear of numbers. I never scored well in Maths and got rid of the subject at the earliest opportunity as I entered college. While I had a personal bank account at a very early age, it was more to save the yearly Birthday, Diwali and other festive cash gifts. Subconsciously I made some academic and professional choices to avoid numbers. But over the years realised, as a woman with personal and professional ambitions you just cannot escape from finance and ‘Budget’.
My brush with budgeting practically began when I moved to UK for studies. Living on your own, managing with limited resources, made me register every pound I spent. Later the travel bug in me was a catalyst to think of saving enough for that one long vacation. Recently conversation with my mother turned to our monthly household expenses. Last few months of buying groceries, planning home chores, managing maids had subconsciously made me think of finances and budgeting.
With India producing inspiring women leaders, sportswomen and now entrepreneurs, it is all the more important for women to become financially literate and independent. Financial education will make women – urban and rural – understand their Financial Quotient (FQ). One such platform I personally found helpful is GetRichGirls.com . It dwells on so many aspects of financial planning and how women can master it. The much needed motivation for girls to get rich!