8th March is celebrated as International Women’s’ Day all for the world. This day is marked as the day for women, for their upliftment, for their progress and for their praise. This day is the celebration of a WOMANHOOD. But is only one day sufficient for this? Can’t women celebrate WOMANHOOD, 24*7? How can they do so? Only when they become emotionally, physically and financially strong. It is not others but a woman should herself help her to make each day a day for a celebration.
Women are born caretaker. They take care of everyone around them. Family, kids, job, society everyone. But most of the time forget to take care of themselves. But if they themselves are not fit physically, mentally and financially how can they be the pillar of support to others?
I my opinion, we the women, should give importance and priority to
Our own WEALTH
Our own PROGRESS and WELLBEING
Health: Keep your health your first priority. Take time out to look after yourself. You be a working woman or a homemaker have one hour ME time to exercise, meditate and just relax. Eat healthy, think positive, Be creative and Be cheerful. It is very important to keep ourselves happy to make others happy. I too follow this in my own life.
Wealth: This is the second important thing to keep in mind. Nowadays women earning a good chunk of money is not a new thing, Women are equally earning as their male counterpart. But earning money is different and managing money is different. Many of us learned how to earn sizable money but very less are successful in handling their own as well as household finances. Let us keep following pointers in mind so that you have your own WEALTH created.
Remember its YOUR money: Most of the time working women think that they earn for the household. They tend to spend the whole of their money on household expenses and never invest for themselves. It is very important to keep some part of money away and invest it for long term wealth for your own.
Take responsibility of your own finances: As you know how to earn money you should also know how to grow money. The money you earned should not only be spent but should wisely be invested too. Take charge, ask for help but don’t solely rely on husbands, dads or elder brothers to look after your finances.
Have an open discussion with your better half: It is been observed that Indian married women are hardly given a chance to talk freely about household finances. Show interest and involvement, share your views about money and investments and take part in the decision making process.
Study the Basic concept of Personal finance and financial planning: Personal finance is not rocket science. It is relatively easy to understand as well as implement. Take interest in learning the basic concepts which will be helpful in managing your own money.
Get the BASICS done before starting the investment journey: Once you start understanding personal finance you will come to know about the things which are to be done one by one before jumping into investments. Hedging of risk and wealth creation are two important wheels of personal finance.
Have a self emergency fund: The Emergency fund is a very important and basic step in finance. We women always set aside some money for your family but you should have a separate emergency fund for yourself too for your personal expenses. At the time of job loss, pregnancy break for a sabbatical for kids this emergency fund will be handy for you.
Have your own term insurance and standalone health insurance: If you are earning and if you are a sole earner or single parent is it very important to have adequate term insurance. As well take a standalone health insurance plan on your own name apart from employer cover or family floater to make a provision for any kind of medical emergency.
Start investment on your own name and from your own money: It is very important to save at least 30% of your earning and invest it on your own name. Most of the Indian women spent their salaries on household expenses and hardly do some investments to save taxes. There is no thought process for wealth creation for self. This is not good practice. Have some investments on your own name as well as from your own money so that it will be your own asset creation.
Make sure you know about household assets and liabilities: It is very important for married women to know whether you have been nominated for the investments which husbands have done as well how much insurance they have and where are the hard copies of all investments and insurance policies. Get your and husband’s wills registered.
Housewives too should keep some money for themselves. Even if you are not working and a homemaker by choice or for a family do keep some money on your own name. Have your own emergency fund, some liquid investments and some assets on your own name.
Progress and well being: This part is equally important in every woman’s life. Your existence is not only for your family but it is for YOURSELF too. Do keep on progressing each day, evolve by learning and relearning, be creative, keep boredom away. Not only physical but mental strength is equally important to keep on going in life.
Be happy Be content and Just be Yourself.
Enjoy your womanhood fully!!
Wish you all ladies a very Happy Women’s Day !!