Women’s Web is saying Goodbye! Please make sure you read this important notification.
The author suggests that for their financial well-being, women should follow these three resolutions this new year and become independent and secure.
Dear Women,
A few days into the new year and I am sure you have (or have not) made resolutions. The array of goals from the women I know encompasses everything from losing weight, prioritizing themselves and travelling more.
One key aspect of our lives that we neglect as women is Financial Well-Being.
So here’s a little cheat sheet for you to look at for greater financial security and independence:
This year, instead of blindly trusting your father, husband, CA or friends – ditch your finance phobia and get an understanding of where your money is going. Many women are socially blindsided into being only concerned with spending/budgeting and not saving/investing. 2019 can be the year when you research, read and ask questions. You have the biggest right to your money and to ask any questions. So whether it is filing your ITR or trying your hand at Mutual Funds – Reclaiming financial control should be your theme. There are websites like Jaagoinvestor and freefincal that help you take baby steps. Try!
Already financially savvy? How about adding an added source of income? If you are a homemaker, student or a professional – the gig economy offers many, many alternatives. From freelance writing to transcription to translation or putting out your recipe on YouTube and Influencer – the world wide web gives us great opportunities. So earn something on the side as pin money that you can invest in – either on yourself or in a financial asset.
2019 can be the year of protection. Take time out this year to invest In life insurance (if you have children/dependents) for atleast 10 times your annual income. Only take term insurance and stay away from any market linked insurance scheme. You should also cross check health insurance that your employer provides and take a comprehensive health insurance policy – do read the fine print, ask questions and ensure everything is taken care of. Lastly, make sure that this year, everything from your savings account to your investments has a list of nominees.
Choose one or multiple of these three easily achievable tiny goals this year and take one step towards being financially knowledgeable, independent, and safe.
Image Source: Pexels
Ayushi Mona co-leads Broke Bibliophiles Bombay Chapter, India's first offline reader driven community. She is a poet and writer who evangelizes Indian writing in English at the India Booked podcast and has also read more...
Women's Web is an open platform that publishes a diversity of views, individual posts do not necessarily represent the platform's views and opinions at all times.
Stay updated with our Weekly Newsletter or Daily Summary - or both!
Please enter your email address