4 Women's Financial Planner Council
'28.10.2017'
Source: Money Control
Today, a woman not only manages her home tasks, but also makes a career - on a par with men and even better than them. But when it comes to financial planning, women's interests often fade into the background, writes Money Control.
How to plan your expenses and incomes, maintain financial independence and autonomy? This can be learned.
Adhil Shetty, CEO BankBazaar.com, said that historically women were subject to financial constraints and had less opportunity to learn than men. This effect was reinforced by the view that finance is too complex a topic, requiring many years to study. In conjunction with the time limit for a working woman, this issue remains a problem until now. What to do?
Participate in family financial decisions
Women, who are in fact the real managers of their families, have every right to take responsibility for managing the family budget, at least in terms of the constant family expenses. Shetty says that most men in families are also aware of this. “The good news is that women have more and more responsibilities, including their own money.”
Build your financial portfolio
Understanding the various investment opportunities, savings systems and costs is important. A separate personal financial portfolio gives a woman confidence in her abilities, calm for tomorrow and readiness for potential monetary difficulties. It helps to understand the consequences associated with family profits and losses, the results that financial goals lead to. There are many digital finance planning applications that simplify all of the above.
Set aside for emergency needs
In order to create a money cushion, not only investments are important, but also savings. It is important to fill such an emergency fund in order to be prepared and calm in the face of any potential accidents, accidents, or troubles, such as being fired from work, divorce or the death of a partner. Ideally, experts say, the emergency budget should be equal to your average monthly spending, multiplied by six (six months).
Plan a pension fund
Women most often live longer than men. Sooner or later old age will come, and the partner can leave first. Therefore, it is very important to have your own financial fund, which will help you live peacefully and spend everything you need when you retire and you can no longer work. In any case, every woman should think about what the day may come when she will be responsible for finances alone. And it is better to prepare for it in advance, to always remain calm and protected. The sooner you start doing this, the better the result will be, experts emphasize.
