Financial freedom has become the norm. Of course, it is subjective and can mean different things to different women. For a working woman, it may mean the freedom to decide upon financial matters or sustain herself financially.
Since the beginning of time, investing has been seen as the purview of men, and historically, women have avoided it. As a result, women haven't accumulated as much wealth as males have, despite the fact that women have a natural acumen for saving. A sizable percentage of women are under-confident and still rely on, either entirely or in part, the men in the house to decide upon financial matters.
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The good news is: The tide is finally turning!
More and more women are beginning to realize the importance of being aware and in charge of their financial well-being. Financial freedom has become the norm. Of course, it is subjective and can mean different things to different women. For a working woman, it may mean the freedom to decide upon financial matters or sustain herself financially.
For a homemaker, it may mean the choice of spending money whenever she wants or being able to manage herself in times of crisis. All in all, financial independence is what makes women feel more secure and respected, irrespective of their socio-economic background.
What has led to this change in perception?
A slow but steady exposure to multiple investment avenues along with more womenfolk establishing themselves in the sector has helped tremendously in boosting morale. This in turn has intensified the financial engagement among women as they now have a holistic approach when it comes to job security, financial stress, and the daily demands of life and family. They are now making finances their top priority. Apart from saving up for a rainy day, they are involved in creating financial plans and strategies, thus transforming themselves from money-savers to investors.
The really good news
There’s no denying the fact that the real game-changer has been the plethora of investment opportunities at your disposal, some even curated for women. With easy access and readily available information at your fingertips, you can now start leveraging technology to effectively manage your finances. Right from investing tips to managing SIPs to ELSS to Mutual funds to IPOs, Equity, FDs to NPS and PPFs, you’ll practically be spoilt for choices. And for that, you needn’t be a financial expert.
There are professionals willing to provide the right kind of advice and recommendations. blinktradeX for instance is the latest entrant in the market, armed with cutting-edge technology and advice along with the backing of industry experts at JM Financial. It offers in-depth analysis and research-backed advice on stocks, IPOs, mutual funds and virtually everything under the sun. You can now use your money to actively make money. Any money that is not reserved for emergency savings is worth investing so that it grows to its maximum potential.
Be committed. Be consistent. Budget stipulations, investment opportunities, and the ability to handle money sensibly are not acquired overnight. Learning and absorbing information requires effort and an open mind. Keep in mind that investing is a personal activity; no one strategy works for everyone.
In simple words, you need to move towards financial freedom in its true sense. Don’t just limit yourself to earning money, but rather focus on ensuring that this hard-earned money is allocated wisely and invested in the right direction to pave the way for long-term wealth creation.
So don’t delay any further.
All it takes is the first step.
The author, Shweta Papriwal, is VP, Marketing, Content & Communications, BlinkTradeX, JM Financial
First Published: IST