In the land of Annapurnas and Laxmies

My grand mother was an amazing story teller. She had an endless treasure from Panchtantra to Fairytales and from Aesop fables to Mythology. However, all these stories had one thing in common. Men went out to work and earned money. Women stayed at home, cooked food and managed the household. Traditionally women have been the finance managers- they got a fixed sum of money to manage the house. The men would manage the saving and investing part. This was a trend ages ago and has not changed even today.

Times have changed and so have the lifestyles. Joint families are disappearing and there are more nuclear families. Higher borrowings and greater aspirations have compelled women to step out of their secured cocoon and they are not only earning incomes but corporate boardrooms are also seeing more female participation. So far so good. Women are perhaps not yet as involved in household finances. While women may have become more active in ‘earning’ incomes, ‘managing and investing’ aspect is still a man’s area of expertise and women voluntarily take a back seat. Definitely women are great at managing household expenses. But today, they cannot and should not stop just at that especially when there is a huge variety in investment opportunities and access to all kinds of information was never easier than today.

They say journey of thousand miles begins with a small step. The time has come for the women to take these small steps towards financial awareness. A woman must know the details of health insurance, life insurance, FDs, details of mutual fund investments, loans and EMIs that are being paid. All that needed is the will. Women have traditionally been the ‘home managers,’ there maybe resistance to step into the seemingly complicated, jargon filled world of larger finances. But that is not something that cannot be overcome.

So ladies shed all the inhibitions and get active in money management. You aren’t called “Annapurna and ghar ki laxmi” just like that.  Educate yourselves and then there is no looking back.

 And a sincere advise to the gentlemen—

Do not take all decisions all by yourself, involve your better halves as well. Your household's investment portfolio will be less risky and more diversified as women put safety first; whether it’s driving with the seat belt on or investing and tend to be more risk averse hence you will be wealthier in the long run. Happy investing. Stay Blessed.