In a world where men continue to earn more money than women, women need to step forward, stand for themselves and need to brush up on their financial education. They should look forward to protecting, building and managing their finances for a better lifestyle and their empowerment. According to a 2014-15 Prudential research study, 50% of women are the bread owners in their households. The more financially educated a woman becomes, the more empowered and wise she will be while taking financial decisions which thus would lead to their better financial future.
Who is the article meant for
It’s a known fact that women always try to do the best she can for her family and to achieve financial freedom, she agrees to work for less pay for equal workload and lesser chances in promotion as compared to men. Therefore this article would cater to all those women who are planning to take a step forward in achieving financial fitness and also to motivate and guide the women about this concept of financial eligibility.
Being financially insecure at any age is stressful, and it tends to get devastating in the retirement years. Money is genderless, but questions like why women need personal finance still bother people. Hence, it’s important for women to think about their financial fitness and independence. They should start investing more and save money for their sunset years.
Also, after marriage, it gets tougher for women to adjust, if in a patriarchal family, where the man is the sole earner because of this questions a woman’s financial life. The way the husband takes his retirement decisions affects the family’s finances because of women being ignorant and for letting the man take the upper hand in managing the funds. Women being the predominantly the primary caregivers in their families, they tend to make adjustments in their work life even if it requires compromising with their pay and their work conditions. Women at the same time are not able to stay in a job for longer which makes them incapable of becoming vested in a retirement plan.
How can you benefit
To make women better investors, they need to get a good income as well. They do get higher net returns since they tend to trade less and pay fewer taxes. But it’s wiser and smarter if financial choices are made when we are young to get in multiples when we grow up. Thus, to gain confidence and live a peaceful life financially, women should cater to the needs financially and talk about financial fitness often and pay heed to live a stable and financially healthy life.