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  • Category: Miscellaneous

    Why is financial literacy important for women?


    Why are women not more involved in making financial decisions in the family, such as in investments, or in the usage of banking facilities? The importance of financial literacy for women is highlighted in this forum discussion.



    When it comes to the educational accomplishment related to one's finances then we are the ones who remain unaware of the process of having our money grow. With the dynamic lifestyle and looming insecurity of the job, it gets imperative to check our finances and let our money grow. The financial strain not only darkens our hopeful future but also affects our present in many possible ways.

    I believe many little and larger problems could be traced back to the economic condition of the particular family. In this scenario, the women are the worst hit. In the cultural rigidity where the women have little scope to get rationally educated, the absence of financial literacy becomes the hindrance to becoming independent. With our cultural guidelines, there are more of the commodity with predetermined work ethics is made to be dependent on one male or the other which not only restricts her say in financial matters but also affects her interest to dwell deep into the topic. Financial literacy is not only about saving but also letting our money grow through well-researched investments. The more a family is inclined to such a process the more it has chances to get financially independent providing her the chance to seek creative options to lead life and be peaceful to have the money deployed to other businesses and professions that would surely lessen the chances of unplanned grim future. When the lady takes the responsibility it not only creates the risk management distribution but also empowers the women to have their say in the family financial matters. In the time when retired professionals are losing money by investing in lucrative fake schemes, financial literacy not only saves such people but also creates the path for early retirement to fill the priorities peacefully. In varied dynamics of cycles, financial education lets you learn more about the economy and strengthen the democratic structure by having more aware citizens.
  • #726159
    The author has raised a wonderful thread which deals with more awareness among the women folks on how to deal with financial matters to which they must be accustomed with the knowledge. Normally the women are vulnerable to spend more as they are easily get convinced to buy any product or service and by virtue of husband giving sweeping powers to manage the home affairs, the wife tends to keep money aside for the contingencies but even that is spent when she likes some product or the service even without consulting the husband. Not that every women is the spend thrift, as there are few who would keep aside some money as savings from her budget and following some austere measures. So it has become important and must for the women to have the financial lieteracy as suggested by the author.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #726165
    For the independence of women folks two things are required. One is financial literacy and other is financial independence. Once these things are there they will not depend for everything on other family members. I have seen that in some families people dupe the women because of their ignorance about the financial matters. They even do not know as in which areas the husband had invested the money. In case of some eventuality they struggle from pole to pillar to sort out the things and people simply cheat and misguide them. Women should make all efforts to learn and acquire these things otherwise they only will suffer the consequences in adverse conditions.
    Thoughts exchanged is knowledge gained.


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