What do you mean when you talk about financial literacy? It refers to particular abilities and information that support you in making wise financial decisions.
What kind of impression do you have when you hear words like “finance” or “financial advisor”? Who do you believe makes financial decisions when a man in a suit and tie gives you advice and manages your finances at home? father, spouse, or son. Where is a woman’s place in finance and where are they?
We were raised in a culture where we were taught that finance is not a job for women because it might be too complicated, boring, or require too much knowledge or skill. However, this is untrue, and women may eventually have to pay a high price if they do not take the time to understand this entire aspect of finance.
In the modern world, while women are powerful, educated, and independent, men still rule when it comes to fundamental choices. Although it’s a common assumption in society that women save money while men invest it, nowadays women are also actively involved in the financial sector. Let’s alter our perspectives so that when it comes down to it, we’ll be better financiers and investors.
For women, the financial leadership gap is too significant. Finance is not rocket science; it is a life skill that is empowering and liberating, and it can be learned very easily. However, there are some points that frequently come to mind, such as why hesitate to learn and apply finance when there may be a heavy price to pay for doing so. In this article, we will dispel this myth.
Do women possess the capacity to genuinely assume financial leadership positions? Let’s examine the reasons why women don’t use their financial rights. If women don’t understand how finances operate, they must first learn since it’s never too late to start. Women must take charge of their finances. Learn for yourself, as this is the only way to have confidence while making judgments or managing your finances. When women start to believe that they can handle things on their own and that the power of belief or confidence comes from knowledge, they become better investors. Because women are, in my opinion, very effective financial managers, and because they possess this talent everywhere on the globe, it is the woman who runs the household who serves as the true balancing force. Whether managing money or people. They are superior managers because they think critically and make judgments with compassion. Women possess the attributes to handle their own finances, including intelligence, judgment, balance, common sense, responsible risk-taking, empathy, investing, debt, credit, saving, budgeting, and banking are the main tools and approaches that we all utilize for financial decisions.
When discussing money or finances with their husbands, fathers, or other male family members, it sometimes happens that women find it difficult to approach them and ask what is going on. This may be because they mistakenly believe the men in their lives who always seem so confident to know what they are doing with the money. Instead, they prefer to observe them conversing or making financial mistakes.
If you ask the women around you, 3 out of 5 will proudly say, “My husband, father, brother, or son handles this entire money thing.” In reality, though, women are smart, intelligent, and doing very well at their jobs, but they still haven’t taken control of their finances.
It’s time, ladies/girls, for you to stand up and take control of your financial decisions. It can be exciting when you are willing to take up some portion of the portfolio and actually manage that money right, using it as you would put it in stocks or better instruments. So here will be my suggestion to the women reading this article: ask about your financial positions, assets, and liabilities as well as attempt financial independence.
If we look at India, 79% of women actively save money, and a poll from 2020 has shown that women are managing their own finances and making financial decisions.
In this growing India, financial literacy and financial empowerment would be considerably more valuable assets for a woman than anything else. Financial literacy can help us achieve the stability and independence that we all desire in the end.
The intriguing thing that occurred during the demonetization situation was that there were numerous hidden funds that were released as a result of women’s homes and numerous examples all around us. When women enter the finance industry, a nation needs more of its GDP to pass through the hands of women since that is when the money finally finds much more beneficial uses and makes a significant difference.
Financial literacy is crucial for both personal and professional development. It is freeing and powerful, and you should never, ever be kept as a hostage since it will offer you a thrilling sense of control over your own fate. Everyone makes sound financial decisions on a daily basis without even realizing it. All you need to do is put this information into practice, and your life’s trajectory will be altered.
More women in finance are needed in a world where integrity is becoming more of an issue, and the OECD has some encouraging words. “A combination of awareness, knowledge, skill, attitude, and behavior necessary to make sound financial decisions and ultimately achieve individual wellbeing” Everyone in the current situation is aware that it is a top priority.
