Do you help her count the bills?

Look around you and you will realise there is something seriously wrong with the way things are done when it comes to money. Just ask yourself these questions: who assisted you in getting the education loan for your college fees? Who bought the first vehicle in your house or who manages the bank loan and credit card bill payment in your house?

If your answer is “My Father” for most of these questions

you're not alone

According to Annuity.org Women are three times as likely as men to say they can’t afford to save for retirement and have significantly lower rates of financial literacy.

Statistics show that women’s engagement in family financial decisions and knowledge about the basic financial terms is much less as compared to men. This is a major factor contributing to the problem of male dominance in any household.

A social experiment conducted by Paytm on 6 March 2021 demonstrated that there exists a huge gender gap when it comes to financing and urged to separate gender from finance and create equal financial empowerment.

What can be done then?

Take your first step take initiative to learn about financial happenings in your house and the world around also encourage children irrespective of their age to start understanding financial titbits from an early age to evolve as a financially independent adults in future.

Start simple by getting to know basic day to day financial and banking terms start to have pocket money management or household budget management dairies and try to experiment and learn the ways to manage them in the best possible way.

Be informed about the little things like your credit score and the interest rate and circle rate in your area.

If feasible visit the bank often and alone and try to perform the task independently taking assistance from the bank employees and be curious ask even the minute details if you are not aware of it.

Connect and join groups related to financial education and women financial literacy such as The Financial Literacy Organization for Women and Girls and The Women’s Institute for Financial Education.

The government of India has also taken steps towards financial literacy development at an early age by proposing to add fiscal literacy to the school curriculum.

Women amount to 49% of our population and empowering them through the means of financial independence can help to improve the countries GDP and assist to reduce the gender gap and male dominance.

When we make informed decisions and are independent in our actions we can create a world a better ace where decisions are miracles happen not by fate but with the calculated risks taken by an independent and informed mind

Conclusion

The problem of financial illiteracy among women is evident but unnoticed, most of the times people don't even realise that there is something wrong with it but its time where the world, its market, its trends, its people and their finances all are dynamic changing and evolving so we must recognize and acknowledged the problem of financial literacy and start to tackle it as early as possible as it not only paves ways for a genderless financial system but also a strong, just and powerful economy

#EqualeEconomicOpportunityToAll