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Is it really important for every woman to be financially independent?

The need to be financially Independent, a topic is a lot debated and discussed in most of female groups, whether you go out of house and work is a matter of choice and option for everyone. However, a woman can be financially independent irrespective of her doing a regular full-time job.

Covid pandemic has caused enough havoc around the world, still it has become a major reason for a dormant and qualified female workforce to explore opportunities, thanks to the over-night developed ‘work from home culture’, cloud kitchens and well as many other opportunities which were giving meagre returns before Covid.

Being financially independent doesn’t mean how much you earn, rather for me it is ‘how much your opinion is considered while making financial decisions for family’, ‘how much awareness you have about family investments’, ‘are you taken aback when discussions about SIP, Debt fund and stock market in underway’, ‘do you look for approvals and validation while making small purchases’ all this determine whether you are financially dependent or independent.

I have come across woman from all strata that go out, work full-time but have no control on their salary or how the expenses are planned. In such cases, if God forbid anything happens to the decision maker, the women are in lurch. They have no idea where to start the consolidation from, and many people defraud them. And they are left with nothing, and all the hard earned money is gone to the dogs.

In India, the contribution of women workforce is low; in fact it’s declining from 2005 to 2021 from 32% to mere 19%.

Why is it important for every woman to be financially independent?

I am sure you have also pondered upon this thought many times, still I would like to emphasize on 5 important aspects and benefits of being financially independent.

Better Self-respect and self-image:

How other see you can be different than how you see yourself. And the later is more important. Do you respect yourself as an individual? How much priority you give to yourself?

Everyone does some sacrifices and adjustments for the betterment of loved ones, but ignoring yourself always is not a great situation.

When you are financially independent, you have a better self-image. You respect yourself more. You trust your power of decision making.

Sense of achievement:

Whatever you do all through the 24 hours of the day, at the end when you go to bed do you do you feel content or is there a sense of dissatisfaction. I am not talking here about ‘mom-guilt’, that’s a different topic all together.

When you are financially independent, you are doing something to be in that state. That action or activity makes you feel utilizing your potential fully. Like for me I am a mom of 2 kids and one Dog, I work full time in a target based job, I blog- we recently run a blog hop #storytellersbloghop season 3 with MeenalSonal, I am working on getting my books published in paperback, I am working on collaborations on social media. I feel happy and content while juggling all these things.

When you know you are contributing in the financial state of family, you surely have a sense of achievement and satisfaction.

Builds Self-Confidence:

If you go out to work, or work from home, are freelancers or a reseller. You take hobby classes, run a cloud kitchen or a homebased business for doing any of these requires lot of confidence and public interactions.

When you have control of your finances, confidence to face people comes automatically. Because you know that how it needs to be done.

Happy heart and Happy mind – leads to self respect, confidence and better decisions

Better Decision making:

That’s the whole and sole purpose; can you take your decisions independently?

Do you give up in stress, do you hold your ground, can you make your voice heard, dose your opinion matters?

Once you are financially independent you don’t have to go to people and ask for money while doing petty expenses. I come across many woman on social media who hesitate to give gift to their parents and siblings because in-laws or husband would not agree or give them money, that is an unhappy situation to be in.

If you can collaborate with your spouse on money matters, your opinion and decisions will also matter. Financial independence with help you trust your own decisions.

Hope these points are a gentle reminder to you on why every woman must be financially independent.

Stronger Mental strength:

When you are making decisions, taking forward calls, not all situations are hunky-dory right? There are struggles, physical as well as mental.

Handling your own finances or contributing in the financial decisions makes you mentally strong. In tough situations, your hand and feet do not turn cold. You know there can be a way to get out of this. This mental strength comes from a better self-image, confidence and trusting your decision making abilities.

This blog post is part of the Women’s Day Blog Hop, themed on She: A Tribute to Her, hosted by Swarnali Nath


This Post Has 34 Comments

  1. Madhuri Lele

    Ujjwal you really written well. Financial independence is important for women. It brings us strength to fight our problems.

  2. Alpana Deo

    I am glad you started with the explain the meaning of financially independent. Being financially independent has many advantages. And we have seen the uncertainty so clearly during cover that understanding out finances has become very important.

  3. Swarnali Nath

    Being financially independent is important for everyone, but sometimes only being educated is not enough for getting a job. Luck is a sheer factor as I have been struggling hard to get a stable job since I passed out from college and deep down my unemployment has triggered a trauma in me that I live with every moment. Your post is very nicely crafted, Ujjwal. More power to you. I am waiting to see your books in paperbacks. Best wishes. Thanks for joining us in the blog hop and sharing your point of views. Gratitude.

  4. Geeth

    I know Ujjwal, this question is important for every woman. It’s not about how much you earn but is that amount making you happy and self reliant?
    Debatable question but yes making many women strong in the descion making.

  5. Cindy D'Silva

    I think the equal inclusion in financial matters will happen once we educate ourselves about the same and the men take us seriously and as their partners instead of merely someone they take care of. What do you think?

  6. Manali Desai

    So well-written and explained, Ujjwal.
    Financial independence is one of strongest on which we can promote and understand women empowerment.
    You’ve made some great points here and I hope more women will be encouraged to inculcate these in their lives.

  7. Shabana

    Very well written and explained..I really needed to hear this today…on my way to get financial independence..

  8. Harjeet Kaur

    This subject is close to my heart. Indian men share nothing about finances and investments with their wives, I have been through this myself. My husband passed away when I was 40 and Our was a joint business. As there were no demarcations, I signed off everything under pressure and got nothing. All couples should talk about money and where and how they keep it. I am totally ignorant about the subject and still struggling with it.

  9. Surbhi Prapanna

    I second to your thought Ujjwal and think the same way. many people assume that working means earning more money. but it is not the only aspect of working or being financial independent. you have explained various aspects of being financial independent so well in this post. many congratulations and all the best for publishing your books in paperback format. that’s an amazing news.

  10. Dr. Anita Sabat

    Relevant topic. Well explained.
    Finance as a topic is overlooked for women, and women are expected not to have a say in it & rather follow instructions or orders.
    Proud that our nation’s Finance Minister is a woman.
    High time “Ghar Ki Lakshmi” too manages “Lakshmi” (wealth) herself.
    In a recent video, it was shown how men and women have a wide gap between them after financial questions come up.

  11. Harshita Nanda

    Dear Ujjwal, I totally respect you for writing this post. It definitely is the need of the hour for women to be financially independent and also aware of where the joint finances are being invested. In fact have you heard of the term spouse salary? This was introduced in a company in Sharjah, where homemaker spouses of company employees were paid a salary. What it did was financially empower the homemakers who do not have a source of income. ( i wrote a blogpost for women’s web on it).

  12. Abha

    Very well explained. Being financially independent does not mean you earn money, it also mean how much control you have on financial decisions or investments. I hope women understand this and start taking control of their finances too.

  13. Sivaranjini Anandan

    Loved all the points to summed up to express how much is it truly important that women be financially independent.

  14. Dashy

    Spot on, Ujjwal. I have seen women in my family refrain from indulging in their personal wants just because they were hesitant to ask for money to those they were depending on. Even though there never would be a situation where they wouldn’t be given the money, it does not feel nice to always have to take permission before doing something you want. And of course, security is also an important factor. Financial independence is a must for women.

  15. Deepika Sharma

    Loved how you explained what financial independence means for women who are home maker. So many women hesitate to buy things when they are not working themselves as they think they are dependent on their husband. Very nice topic to write about

  16. Roshan Radhakrishnan

    Definitely a post that needs to be shared. I wish more women read this. Financial independence is essential in today’s day and age. It’s tough as it is for the most part of India but when well qualified, educated women raise objections and dissuade others from this, they don’t realise the potential harm and risks they are propagating.

  17. Sreeparna Sen

    My job and accomplishments gives me an identity beyond being somebody’s wife or daughter or mother. And that is the true liberation. Yes financial part is important to. Money does bring power.

  18. I am so glad you touched upon this aspect of financial independence and how true is that without this a woman has no voice , no self respect! Money and the knowledge to manage it must be taught to every girl child from a very young age.

  19. Varsh

    My mother was a housewife but she was more financially independent than me when I was working. It’s important to know where your money is coming from, save and invest it in the right place. And every woman should have an understanding of it. Of course it helps build confidence and self-respect too.

  20. Janaki

    This is one area, I lack in. Though my husband keeps insisting that I must understand and participate in financial planning, I never bother. I know it is not good. However, I will work towards it.

  21. Rakhi Jayashankar

    In many houses women.are suffering domestic violence because they are not financially independent. Mostly the freedom of divorce is only for women from affluent families because who.will take care of you hangs on their head. But if a woman is independent financially she will grow at many levels.

  22. Sinjana

    I agree, women should be financially independent for their own sake, because we live in a world of increasing capitalism which values an entity in dollar-terms only. This is the harsh reality that we have to live with.

  23. Ritu Bindra

    Bang on post, Ujjwal. Being financially independent is not just about earning money but being in control of it/having a say on it. Although I respect their choice, in this day and age, it is imperative that a woman is financially independent. More so with so many avenues available.

  24. Dipika Singh

    Women don’t do finances! How are you going to take care of your money? Please ask your father/brother/husband to make decisions on which SIP is the best. I have heard all these things multiple times in my life. It is true women shove off their financial responsibilities to their counter parts. But, with slow and steady change, this can shift too. We need to own up our own finances.

  25. Tina Sequeira

    This is a much-needed and fresh perspective on financial independence for women. It’s not just earning, but having financial literacy and ownership. Thanks for writing this, Ujjwal.

  26. Archana

    I strongly support the point that supports on Women’s independence in every way. Moreover, flying the flag of womanhood high in sky the concept of being financial independent should be the first thought to be sowed in the mind of kids irrespective to their gender by all the parents. I have to say All the pointers have well mentioned by you to understand the need of being financial independent.

  27. Sameeksha

    I agree and relate to this blog on so many levels. These are hard truths and it’s time woman should also have a complete clarity of the savings, investments, what where and how much money they have. I have seen a scenario where the husband passed away and the wife had no clue about how much money they had or have to lead on the next process to get the money out of the bank. This is a really important blog. Thanks for writing about it!

  28. Daisy

    This was a much needed topic that you have picked and written about Ujjwal! What I particularly liked was that you emphasized the importance of financial independence with a woman’s self image, confidence and the ability to take decisions and stand by them. In short financial independence is directly proportional to women empowerment and growth. I think we all women should start taking care of our finances whether working or not and have a say in the money matters in the household. It’s definitely the first and greater step towards our empowerment!

  29. Suhasini I.P.

    Yes, everyone should have financial independence. Having financial independence doesn’t mean earning money, it also means you know what to do with your money, and understand different aspects of it. Very nice post Ujjawal.

  30. Ranjini S

    This is so relevant! There’s a tendency even for working women to be dependent on their spouse for investments and handling money! It is important that women learn how to handle money and make decisions because that not only makes them independent, it makes the household stronger!

  31. Sakshi

    A must read topic on feminism especially suitable for Women’s day. Very nicely explained Ujjwal. It’s imperative to understand that financial indispensable is not about earnings it’s about having the skills and knowledge of maintaining ones finances. Something that parents should teach their children irrespective of their gender.

  32. Sakshi

    What a powerful message on what it would mean to be a feminist. There is nothing better than being Financially independent which isn’t the same as earning money. A well laid out post Ujjwal- with personal examples. These skills aren’t taught in school and the patriarchy ensures men learn it in adulthood but women are sidelined. Families should teach their children (irrespective of the gender) all the skills of being financially independent.

  33. Amritha Srinath

    Wow Ujjwal, what a power-packed post on why every women should be financially stable and independent! I absolutely agree that financial freedom liberates you by giving you the confidence to live your life on your terms. Many women who are housewives pursue their passion and know how to manage their money, making them feel enough, motivated and full of energy and positivity to run their houses. And a house becomes a happy home only when the women of the house is happy.

  34. MeenalSonal

    Being financial independent for a women means many things and one of them is having their say in family finance matters. Starting from small women can make it big and being aware of financial matters make women of the house more responsible towards their responsibilities too.

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