Mahatma Gandhi said he would consider India independent the day her daughters could walk free on the streets in the middle of the night. No offence to Gandhi, but isn’t that a little restrictive? As the modern woman struggles to balance between demanding breakfast menus and spreadsheets, ageing in-laws, looming project deadlines, board meetings and parent teacher meetings, it is time she redefined her independence. While what she wears, what job she picks, how she chooses to balance her work and family life are definitely her own choices to make; how she saves and invests for herself and for her parents (kudos to the Supreme Court on this one) should also be her own choices to make.
Thankfully, we have come a long way from the time when men would grant the women in the house a certain sum to manage the household expenses, but we’re still a long way off. Because women still think their financial decisions need to be validated by the men in their life. They second guess their every investment decision. They wait for their fathers to instruct them on spending patterns. They wait for their husbands to “plan for the family’s future” and content themselves with the back-seat with their own hard earned money.
Fathers, brothers and husbands of the world, step aside. Women, seize what has always been yours – your Financial Freedom. This Independence Day, gift yourself a stable financial future with ArthaYantra. Start planning today!
Tips to gain Financial Freedom
A free man is someone who follows his dreams and turns them into reality. Let’s take a step back to ponder if we are really free and independent to be able to achieve our dreams? If yes, then why it is that only those few can achieve financial independence??
This Independence day pave your path towards financial freedom by following these simple tips!!
“If you buy things you don’t need, soon you will have to sell things you need” – Warren Buffet
Let’s admit it, we do not think through before purchasing things, sometimes we buy stuff for the mere contentment and joy or may be for the high that we get from purchasing it. But we need to keep our emotions aside while taking financial decisions and focus on what is really needed. Ask yourself – ‘Do I really need this?’ before you purchase – Baby step your way towards savings by spending money purposefully.
Limit What you borrow
People think credit card bills, personal loans or any other loans are manageable but these can be overwhelming. Think of how you can plan for buying something later by saving enough instead of borrowing. Use cash so that usage of credit card is restricted – it is difficult to spend cash than swiping a card. Following a thumb rule like “if I have to use a card, let it always be my debit card” would ensure we don’t borrow money for our purchases. This will also ensure that we stay on top of our Financial Goals.
Think long-term and be patient
Money does not grow on trees but a systematic approach towards building wealth will help you achieve financial independence. Do not let the short term fluctuations in market influence your decisions. Take advice from experts on how to manage your money well. The only way to accumulate wealth is by being disciplined. If someone had the crystal ball to predict when to enter and exit the markets, they would have been the richest people in the world today. Not surprisingly, the richest people are the ones who worked smart and hard to earn their billions, not by timing the markets.
It is a myth that women spend more on shopping. They may visit malls more but they only do window shopping, which doesn’t burn a hole in their pockets. Contrarily, men don’t window-shop but directly buy. So impulsive buying is more among men than women. It is high time women got their due seat on the financial discussion table, for the simple reason that they are more prudent and wise when it comes to managing money.