Financial Knowledge Is A Must: Hold The Trigger In Your Hand

Painless ways of saving money. Photo copyright gcaffe.comThe other day I was given an article to read on finance. Well I did read as I could not say no, but lost interest before you could say Jack Robinson. Further below, a heading caught my eye which said ‘That Feeling Called Love’. Like a magnet I got stuck. There’s something about love that kicks me off. And I know so many like me who have literally no interest in money matters, politics etc.

I am in awe of the current generation of girls coming up. They are simply flying, care a damn about love and earn pots of money and spend pots too. It’s truly amazing to see them so capable and so talented.

There was a lot of talent and ability in the older generation too but somehow it was crushed and they were suppressed for general happiness of the family. And there are tons of women I know who have been clueless, after the death of their husbands, about their finances, accounts, lockers, and will. So, they end up in a soup. And if by chance the kids or siblings are smart and wicked, they would be on the road.

An interior designer Garima Aggarwal says, “I think women should keep their own finances. Due to their innate quality of saving, organizing and being a little pessimistic about future, they can manage the money equally well. There are so many financial institutes which have made investing amazingly easy. Take the advice of the wise man in your house but hold the trigger in your hand.”

Easier said than done but maybe in today’s time the new generation girls are smart and learn bank tactics early in life. The good part is that they have similar minded men also who support them fully.

Parveen Kalia, Programme Manager Project Disha (Apparel Expat Promotion Council), says, “I do the investments but expenses we both share and trust each other completely. It should be an equal give and take.”

Anupam Bhatia, an Asst. Professor at Symbiosis Pune, feels that at times to avoid any confrontations at home over money matters, woman of the house herself leaves the major decisions of finance handling to men. She said, “When it comes to our relationships, money is not the issue. It’s actually what the money represents to two different individuals that can be problematic, as well as the communication or lack thereof around the topic. Though I can be a better person to manage the finances, yet I don’t feel like taking a front seat. So at times it becomes a polite yes to most of the decisions taken by the man of the house. Assuming he is doing the best for us. This is wrong on my part. And it does not mean that discussions do not happen and consensus not taken. But, yet, at times one should and tend to agree on a point. And this goes for both husband and wife. Otherwise it would lead to disagreements at home. That’s what I call taking sensible decision to keep peace and happiness of the home.”

Well, if you are trained in money matters from a young age then it should be no problem at all. You must know how to operate your own bank accounts, your locker, fixed deposits etc. and take charge. Also, make a will and distribute assets fairly. Don’t think you will live forever. Be prepared for the worst.

Anu Chakrabarty, an entrepreneur, says, “My dad and mom made me very independent. As kids I also ran the finances of the house; sometimes I obviously struggled. When I was 16, dad started taking me to the bank, post office etc. and showed me how to fill forms, opened accounts for us and gave us money to deposit in PPF etc. As I got married, my husband supported me completely. I am an equal partner in all decision making and a director in my husband’s company. But believe me if I hadn’t been trained by dad and not been supported and encouraged by mom, I would have never been able to take some of the toughest decisions of my life. Therefore, financial independence and financial knowledge are extremely important.”

It is never too late to learn if you don’t know. Start learning and investing more time in yourself and make yourself a stronger woman. Independence is the key … Mehru Jaffer, author of ‘The Book Of Muhammad’, strongly feels that women should handle their own matters. She says, “Since we live in an age of crass capitalism and hyper consumerism, women have to know how to manage money whether working at home or in an office. Feudalism is over and no man or woman today wants to be patronised by the patriarch.”

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