We women wear multiple hats in our roles seamlessly. We often excel in our professional roles, nurture others and ourselves with the utmost care, and plan the best for children keeping their future in mind.
When it comes to matters of finance, we culturally shy away from taking an active interest. We enjoy spending money and idealize saving money but do not usually trust ourselves to financially plan for ourselves and our families. We give many reasons for not wanting to understand our financial landscape and health.
“I don’t understand matters about money and so it is better that I take a back seat” is the top excuse that most women give to distance themselves from financial planning. Culturally, we also think that finances are the responsibility of men. When we excel in many roles in our daily lives, it is important to pause and ask ourselves what stops us from taking an active role in managing our finances.
Reason 1: All things finance is difficult and complicated to follow
Without a basic understanding of the subject, it is impossible to follow ideas around financial planning. Considering our financial well-being, we must take an active interest in educating ourselves on the fundamentals of finances. Resources for educating is plenty in the form of articles, blogs, short courses on online platforms like Coursera, Udemy and organizations whose focus is on financial empowerment of women such as HerMoney, HerMoneyTalks, etc
Reason 2: I don’t earn enough to think about my finances
Irrespective of whether we earn or not and how much we earn, money is an important part of our lives, both the present and the future. Hence it is important to plan our finances in the way that best suits our plans for our future and account for unforeseen expenses. Having a basic financial plan can give one peace of mind and greater clarity for the future.
Reason 3: Others are better than me at handling finances
Traditionally both the finance industry and home finances have been the domain of men. Lately, women have been excelling as leaders of finance, professionally with India being lead by a woman finance minister. There is no better reason to excuse oneself over one’s gender and be uninvolved in financial management. The benefits of being financially literate will outweigh the excuse we give ourselves and helps us achieve financial stability and independence.
The author of this blog is Jennifer Moses, a Psychotherapist with a private practice. She is also a trainer, supervisor and counsellor at Prerana Academy, a Center for training and counselling in Bangalore and a Coach at HerSecondInnings, a platform to support woman professionals on a sabbatical. Disclaimer : This blog originally appeared on HerSecondInnings.com.Her Second Innings is a platform to support women professionals on a sabbatical in their journey of getting back to work.
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