Let me begin by wishing all “A very Happy Diwali and a prosperous New Year ”

We always celebrate Diwali by spending a lot of time preparing food, buying clothes, giving gifts and most importantly spend time with our loved ones. We strongly believe in the stories of Goddess Lakshmi on this day. As Goddess Lakshmi is considered to be a symbol of prosperity, wealth and fame, we worship her and welcome her home to bless us. Even goddess Saraswati is worshipped this day as the goddess of knowledge, creative arts, wisdom, language, learning, and purity.

Being a woman, I have always observed that women on Diwali are complimented and appreciated a lot. We are considered as a form of Goddess Lakshmi in Diwali. There was a time when women were worshipped as the ‘goddess of abundance & fortune’ in the form of Laxmi. As per the knowledge compiled through stories and history in the past, we believe this to be true in all aspects. But don’t you think these are the shallow behavior of few who does this as a ritual but does not believe in it. Hardly a few independent women are taking their own financial decisions, don’t you think so? We are majorly dependent on our father, brothers or husband when it comes to taking any personal finance related decisions.

Women are named as fighters in all ways whether it is about being homemakers or giving birth to babies or even as businesswomen, however, we hardly see people appreciating or encouraging women in one’s house or company to take the financial decisions on their own.

Few reasons I have always heard since ages,

• What if someone cheats me and then society or my family member feels that I am incapable of taking these decisions.
• It’s been our tradition that men take financial decisions as they are better at it.
• Why should I worry as I have my family or my in-laws with a strong financial background, they will take care of it?

These cliched thinking and reasons might have helped women in that age, but in today’s time it is imperative to have the basic financial knowledge and I always tell this to my clients or women friends that never forget few basic points in life:

• Women live longer than men, hence it is essential to take good care but by self.
• In today’s time being single or divorced parent situations are evidently seen, in that case, you need to raise your kid and family alone so be prepared for any situations is necessary.
• If you are not willing to get married, even then you would need to manage your finance because it’s a long way to go.
• Women usually neglect their health insurances, the time in which critical illness like breast cancer or complications during pregnancy or in old age the bones giving up situations is unfortunate but not predictable.
• Being prepared is the key to financial happiness and peace.

In today’s time, we do a number of things to be happy…Hop into Gym or yoga or dance class to have a healthy body and a maintained figure. We don’t miss our Parlour appointments to look beautiful. We don’t stop ourselves and travel solo to get away from negative energy but how many of us genuinely take out time and sit with our family members or with our financial planners for our personal finance related decisions. How many of you are independent in taking their financial decision?

Whenever there is any financial emergency or cash crunch in the house our homemaker comes out with the money she saved in her little utensils hidden. Imagine if you become independent in taking your financial decision the things would be in your control just like how you want your life to be.

Being a financial planner and a woman, I would advise you a few steps to follow so that you can achieve a sound and healthy financial life:

1. Get started now -It’s never too late
2. Have a financial planner who ever you are comfortable with maybe your dad, husband, or any certified financial planner from whom you gain knowledge and guidance from and then decide on your own.
3. It’s ok if you fail but don’t repeat the same mistakes. Learn from it. Try to understand the finance terminology or words, by reading books or blogs.
4. Make it a habit to maintain a diary and make notes of your budget and expenses.
5. Save at least 20% of your earnings, to begin with, and gradually increase.
6. Don’t just save the money, Invest it as per your risk appetite.
7. Never stop dreaming and be self-dependent.

I would like to wrap it up by saying that we women are born with some superpowers. If we can give birth to a life and make one bright future we can definitely change our own future for better as well.

Happy Diwali.