Women of India: Five tips to get financially independent
Despite having access to education, healthcare, and the ability to earn their own money, a sizable population of women is still battling for their financial rights and financial freedom.
New Delhi: Over the last several decades, India has seen a tidal change in the growth and advancement of women. Today, women are breaking free from conventional roles, and many of them are equally responsible for household chores as their male counterparts. In recent years, the government has implemented a number of plans and programmes to guarantee that women have equal prospects for financial independence. Despite having access to education, healthcare, and the ability to earn their own money, a sizable population of women is still battling for their financial rights and financial freedom.
This article provides 5 ideas for any woman working for financial independence.
Maintain a separate savings account
Most people’s first encounter with the financial system is through a Savings Account. Homemakers frequently create joint accounts with their spouses. To attain financial independence, you must have your own Savings Account that you manage on your own.
Maintain a Reserve Fund
Because life is full of unpredictability, it is critical to save a contingency fund in order to achieve financial freedom. You must have observed your mother and grandma covertly putting money aside from household reserves for emergencies. That is something you must do.
Insurance can help
While there is a growing awareness of life and health insurance in India, women lag far behind when it comes to protecting their lives with insurance. Many women and their spouses are unaware of the need of purchasing women’s insurance. You must end the cycle and protect your family.
Set Objectives
Now that you’ve accounted for all of your money, the next stage is to set financial objectives for yourself and devise a general strategy for achieving them. These plans don’t have to be written in stone; you may make changes to keep your budget on track.
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