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Financial Independence for Women: Our health is not limited to body and mind only. Physical, mental and financial wellness, these three together make you prosperous. It is especially important for women to be financially aware and self-reliant.

Financial wellness means handling money wisely, spending it wisely, saving and investing for the future and creating a financial situation that reduces stress and increases confidence in taking decisions. Economic security, self-reliance and prosperity are also important for women because just as they are capable in other areas of life, they should be self-reliant in financial matters too. It is not just the skill of earning money, but the skill of handling money.

Why is money wellness important?

1. Provides financial security in difficult times.

2.Helps in taking big decisions of life with confidence.
3. Stress and anxiety are reduced.
4. Family and future remain secure.

increasing responsibility of women

In today’s fast-paced life, women are playing an active role at home as well as in office, business and entrepreneurship. Not only do they manage the expenses, but many times they are also becoming the main breadwinner of the household. Therefore, being financially healthy is not only useful, but also extremely important.
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Self-confidence comes from financial independence

Financial freedom is a source of confidence on both an emotional and social level. When a woman is financially capable, she is able to take her decisions without hesitation. In times of crisis, she does not depend on others and is able to move forward with her career and dreams.

These are the challenges

Today’s women are more economically active than ever before. Working women in cities are earning well. Women who are homemakers also manage the household budget, savings and daily expenses in a very systematic manner. Yet a common thing is that most women do not have complete control over their own earnings. Leave investment decisions in the hands of her husband or someone else. They are not even included in major financial decisions. Housewives feel financially dependent because they do not earn.

Common mistakes women make about money

Often women unknowingly make some financial mistakes whose effects are visible for a long time. Many times, while giving priority to the needs of the family, she forgets her financial needs. Most women are afraid of investing and limit their money to savings only.
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Have a basic understanding of these things

Financial security does not come only from earning but proper financial planning is also necessary for it. For this, every woman must have a basic understanding of three things-
Savings: Regular savings, whether small or big, is the first step to security. Make sure to save a certain portion of your income every month.
Investment: Today, as important as it is to save money, it is equally important to invest it in the right place. Look for such investment options where you can get good returns like SIP, Mutual Fund, Gold Bond, Public Provident Fund and FD.
Insurance: A medical emergency can wipe out years of savings, so insurance is a safety net. Health insurance and life insurance both are essential.

Money planning is important

It is often believed that financial planning is necessary only for working women.
Yes, but not at all like that.

Working women should plan like this

1. Keep a percentage of your earnings in savings
2. Start retirement planning
3. Build an investment portfolio
4. Learn tax planning

planning for housewives

1. Budgeting household expenses
2. Saving habit
3. Keeping a bank account in your name
4. Investing small amounts
5. Paying debts and bills on time

Emergency fund is necessary

Every woman should keep an emergency fund in her name. This should cover expenses for at least 3-6 months. This fund protects women in times of job loss, illness, family crisis and sudden financial difficulties.

Avoid becoming a victim of online fraud

With the increase in digital payments, frauds have also increased. Many times, due to lack of financial information, women become victims of online fraud. To avoid this, it is important to keep these things in mind

1.Do not share OTP with anyone
2. Do not click on UPI links
3. Ignore suspicious calls or messages
4. Use only reliable air fresheners

Self Wealth Fund – Safety net created for yourself

Whenever your salary comes, immediately set aside about 10 percent of your earnings. Deposit it in a separate account or invest it. This habit not only gives financial security but also makes you feel mentally relieved and stable.

Set a financial goal every month

Set some small financial goal every month. Like saving an extra Rs 2000 this month, stopping unnecessary expenses or keeping your credit card bill zero. Small goals like these help lead to bigger savings and develop better financial habits in the long run. Additionally, accomplishing these goals provides you with ongoing motivation and
You feel more confident about your financial future.

Small steps that make women financially strong-

1. Regular saving habit
2. Keeping track of expenses every month
3. Investing some part of salary or pocket money
4. Holding property or investments in your name
5. Adopt micro money habits. At the end of the day, it is important to check where you spent your money throughout the day.

keep yourself updated

It is also important for women to keep themselves updated with time for money wellness. For this, keep taking new financial information through TV, newspapers and magazines. You can also participate in financial workshops held from time to time.
Financial wellness for women is not just an economic concept, but the basis of self-reliance, security and confidence. Today’s woman is aware of her responsibilities, dreams and future.
Keeping it balanced, it can move forward only when it is financially strong and aware.