Encourage women to separate finance from Gender and attain financial freedom

A day where you lose your job but you are able to pay your groceries bill, rent, car repair expenses, and shopping bills, ……… with your available bank balance,……… That relief, that sense of relief is financial freedom for women.

Financial freedom means a stage in life where you are free to pursue your passions without being stressed about the financial fallout of your life decisions. When you have a Life without any financial limitations (being out of money, unable to pay the debt) it gives you financial peace. And all that effort you put in to achieve this peace is worth it.

Financial freedom usually has different meanings to different people depending upon one’s personal goals, values and life circumstances.

For a Woman, financial freedom can represent a path towards greater independence and autonomy, enhance their self worth, and face emergency issues.

It took decades for most of the women to understand and achieve financial independence but, unfortunately, it is still common for many women to hand over the responsibility of making financial decisions to men. It is rare to find women taking ownership of their financial decisions upon investments or budgeting without any assistance.

Did you ever watch that Ad on television where a woman weeps about their financial issues after her spouse’s death while talking to his wall-hanged photo frame? The panic you feel at that minute is real.

This makes it much more important to know and educate women about financial freedom.

What’s the importance and need for this freedom for women?

 Provides women with a sense of security and peace of mind. Women who have financial stability are better equipped to handle unexpected expenses, emergencies, and job loss.

 Gives women the independence to make choices about their lives and their future. When women are financially dependent on others, they may be limited in their ability to make decisions about their career, family, or personal goals.

 Women who have financial freedom are better positioned to take advantage of opportunities that may arise, whether it’s starting a business, pursuing further education, or investing in their future.

 Can help women break down gender-based barriers and achieve greater gender equality. When women have economic power, they are better able to challenge traditional gender roles and advocate for change.

 Women tend to live longer than men (almost 8% on average longer than men’s life span) and are more likely to face financial

challenges in retirement. Financial freedom allows women to plan for retirement and ensure they have the resources they need to support themselves in their later years.

(Kyun ki har dhaadhi ko apni pauthi ke haath me chupa chupa ke paise dhene padenge)

And, yes, challenges are tied up to achieve these needs.

 The gender pay gap: Still women are paid less compared to male counterparts who make it harder for women to save and invest.

 Bias and Discrimination: Women may face obstacles when it comes to advancing in their careers and earning higher salaries.

 Caregiving Responsibilities: Women are more likely to take on caregiving responsibilities for children, elderly parents, or other family members.

 Social Norms and Expectations: Women may face social norms and expectations that limit their earning potential and financial independence.

Here, financial freedom helps to solve these challenges and enables one to support oneself and one’s family without the stress and uncertainty of financial security.

 Income Inequality: Financial freedom helps them invest their money in a way that generates passive income and builds long-term.

 Career Advancement: Financial freedom can give women the resources they need to invest in their careers, such as education and training, and networking.

 Caregiving Responsibilities: Financial freedom can give women the flexibility they need to balance their caregiving responsibilities with their careers and personal goals.

 Social Norms and Expectations: Financial freedom can challenge traditional gender roles and expectations by providing women with the resources and support they need to pursue their financial goals and achieve economic independence.

By developing a positive psychology of money, women can change their relationship with money, Finances and take control of their financial lives.

To discuss about the psychology of money for women involves understanding the unique ways in which women think about money, and how their experiences and societal expectations can shape their financial attitudes and behaviours.

Women can take steps to educate themselves about money and financial management, seek out support from financial professionals or mentors, and work to overcome any internalized beliefs or societal expectations that may be limiting their financial success.

Upshots:

 Educate and invest in yourself about finances

 Prioritize your financial goals

 Cultivate positive mindset

 Seek support from financial professionals

 Encourage women to separate finance from Gender