Women empowerment

Women empowerment 

Economic Independence &

Self-Reliance of Women

Women need to plan financially to become self-reliant, which is definitely positive news. Many women are taking responsibility for their own finances, proving their independence. The number of such women has increased manifold in the last decade due to the spread of education and economic self-reliance through employment. Of course, financial independence should not be confused. Financial independence means not having to worry about your personal expenses at the moment.

When is a Women free from economic discrimination?

When you can live the lifestyle you want for the rest of your life even after retirement and the capital generated from your investments is sufficient for that. 

This won't happen automatically just because you're running a business and have a regular income. It requires some thought, planning and concerted action. All this is more challenging for women than for men.

Why does a woman need to plan independently for her post-retirement life?

It is included in family planning. Yes, even if the husband and wife have accumulated enough money for retirement together and both can lead a peaceful and happy life, it is very important for the wife to have a separate plan.

Often events like divorce crush the joint plan and the woman is left with nothing. In many families, after the husband's death, control of all his assets passes to another person. A big question is what to do at such a time. Moreover, given many of our social customs and traditions, a woman must plan her post-retirement life independently. Expected equality is not observed in terms of lower wages compared to men in many sectors.

The Gender Pay Gap

The gender pay gap is a form of discrimination that affects women's economic security and opportunities. Two graduates different gender from the same high school get a job at the same company, but their salaries differ from day one.

Break in Career.

Women often take breaks from their careers for a variety of reasons. She has to take maternity leave, take care of children, and even take care of the sick and elderly at home. What's more, a woman has to leave her job due to the transfer of her husband. Anyone who has had time to rest can tell how difficult it all is. Reconnecting after a break is never easy. During that time there are many changes in the way of working, company structure, technology and it is not so easy to prepare yourself to face all these challenges.

Longevity of Women

Not only in India but all over the world, women live longer than men. That means the capital after retirement should be more for women. Longer life expectancy means higher health care costs. It requires separate planning. So that a large part of the income is not spent on sickness or other things. Again take net insurance. Note that insurance is not an investment.

Keep an Emergency Fund Ready.

If you ever want to take a vacation, you should have enough cash for six months. Even if you take a break, keep in touch with colleagues, keep learning new skills. So that you are not out of your zone.

Women should be motivated to prepare for their own expenses in the day they leave their careers of financial control by planning independence plans. Avoid all this while planning independently, entrepreneurship, and adventure will give you a chance to make your way around the world.

Find a Trusted Financial Advisor

Find a trusted financial advisor in the process of planning for your financial independence. He should guide you right through this labyrinth. Take adequate insurance cover. So that a large part of the income is not spent on sickness or other things. Again take net insurance. Note that insurance is not an investment. Keep an emergency fund ready. If you ever want to take a vacation, you should have enough cash for six months. So that you are not out of your zone. Think not once, but ten times, how many years you have until your financial independence. Find a trusted financial advisor. He should guide you properly through this labyrinth if necessary. Take adequate insurance cover. So that a large part of the income is not spent on sickness or other things. Again take net insurance. Note that insurance is not an investment. Keep an emergency fund ready. If you ever want to take a vacation, you should have enough cash for six months.

Set financial goals.

Know your financial power. Know how much money you earn, how much money you spend, and how much money you have in savings. Set your financial goals. Visualize your future self. Like buying a house, buying a car or saving money for children's education.

Summary

• Create a financial plan. You need to create a financial plan to achieve your financial goals. This plan should be a tool that you can use to make informed financial decisions.

• Follow your plan. Once you create a financial plan, you need to stick to it. This will help you achieve your financial goals.

• Increase your financial knowledge. Learn more about financial topics. This will help you develop a plan to achieve your goals.

• Get financial help. If you are having trouble achieving financial independence, you should seek financial help. For this you can take help from government, NGOs or financial advisors.