Traditionally Indian society disregarded the involvement of women in decisions regarding money management. Whereas history is proof that most of the housewives have been patient savers. Times have changed and this habit of “patience” has not only proved women to be excellent in investments but also as investors and successful money managers too. As we get to see more and more women wearing the hat of highly responsible roles in esteemed organizations we are also getting to see extremely successful women entrepreneurs excelling in multiple fields.

Economic empowerment increases women’s access to economic resources and opportunities including jobs, financial services, property and other productive assets, skill developments and market information. Women’s empowerment can be defined as promoting women’s sense of self-worth, their ability to determine their own choices, and their right to influence social change for themselves and others. Financial inclusion is a critical barometer for the development and well-being of the society around the globe – in a developing country like ours where “Bharat” & “India” co-exists and are growing together, have been instrumental in involving women as an architect to society’s economic development.

While discussing women empowerment, I would like to stress the issue of gender discrimination which has been pre-existing, but with the contribution and relentless effort from strong women from extremely humble backgrounds to compete and outshine the other gender in fields like sports, finance, engineering, politics, hospitality, travel and tourism and overall society development has made this generation and society a place where equality is respected and must be respected. Currently, with numerous women role models to pave the way, women have no excuse to be financially literate and independent.

As a successful women entrepreneur in financial service from Kolkata, I always try to empower women by advising them to walk the journey to create their own financial wealth and also encourage all women to be financially literate enough to be participative in family’s financial planning. I strongly suggest aspiring women participate in various financial literacy platforms organized by women entrepreneurs.

Few financial advice for women:

• Housewives should start investing in SIP from their savings with a minimum sum of Rs 150 per month / per week / per day.
• Mother is the first and best teacher: Every mother should plan for their child’s education and future, for that they should discuss with their family for considering children’s solution-oriented scheme.
• Every woman, whether working or a housewife should have a suitable Medi-claim, as an advisor I am capable & equipped to suggest the most appropriate one.
• Every woman should discuss with their family members to start investing for the creation of wealth for their post-retirement life by investing in Retirement Savings Fund.
• A Term Plan for every working woman of the family.
• Every mother is the biggest contributor to building a strong and value-driven society, so along with imparting social values every mother should teach their child the value of saving and investing.
• Every woman should form social groups where they should exchange multiple ideas of empowerment: Sharing is the ultimate caring; every story of small success should inspire other women members of the group to start or improve their quality of life.
• All women hold enormous possibilities to create and nurture: Aspiring women professionals should follow the success stories of multiple Indian mighty ladies who have created history for themselves and have made the country proud.

To name a few role models that everyone should draw inspiration from their journey that these women have travelled; like – Indra Nooyi, Falguni Nayar, Hima Das, Mary Kom, Indira Gandhi and many others – all these mighty ladies have managed the dual role of family management and professional growth. We can draw inspiration from crores of women who work hard every day to fulfil their dreams. Renowned brands run the women cooperative models which work wonderfully well in rural India is the base of inclusive growth, financial empowerment and is an inspiring example of how networking can strengthen the financial base of a family.

So, women lend a hand of help and let’s celebrate the spirit of women hood by getting financially empowered and empowering each other.

Views are personal: The author Vinita Kejriwal is CA & CFP: Director of VINSAN Financial Services Pvt Ltd

Disclaimer: The views expressed are of the author and are personal. TAMPL may or may not subscribe to the same. The views expressed in this article / video are in no way trying to predict the markets or to time them. The views expressed are for information purpose only and do not construe to be any investment, legal or taxation advice. Any action taken by you on the basis of the information contained herein is your responsibility alone and Tata Asset Management Pvt. Ltd. will not be liable in any manner for the consequences of such action taken by you.


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