There is only one thing in this world that women don’t tend to manage and that is money. The reasons are well known: lack of knowledge and confidence. While parents want daughters to be educated and independent, they still urge them to learn how to cook and manage the house but do not teach them the importance of money management. In fact, in most households, money matters are not discussed in front of children and women and those who talk about finances are branded as “money minded”.Further, spouses believe that the wives do not understand finance and hence do not involve the women in long-term financial planning. Financial advisors, media and most external influencers also put off women with their stereotypical approach. Women, on their part, have to juggle between their work and household duties. Even with all the equal partnership, it is still women who are responsible for child-rearing, taking them for classes, ensuring all the meals are prepared on time and to the liking of all the family members, managing house help to ensure the house is cleaned properly and taking care of family’s health and exercise. In all this, women find it easier to handover one responsibly to their spouse to manage and that is money management.
But women need to be in charge of their finances simply for one reason – to live life on their terms. Apart from having financial security, every woman has a bucket list, which could be travel, experiences and activities that they want to do. Being in control of your money would be a sure-shot way of completing your bucket list.