Get Inspired, Be Empowered Forums Gender Divide Can homemakers achieve financial independence?

7 replies, 7 voices Last updated by Samriti Sharma 1 year, 10 months ago
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    Yash Tiwari
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    Women are a lot less often than men in making the decisions to spend and save for the household. Men can earn salaries while being involved with their family that is why women are not having any financial management skills. Women no longer tend to take care of their family’s health because of their own busy schedules in pursuing career opportunities. This is the reason why most women are constantly deceiving themselves into thinking that they can take everything and still be able to care for their families.

    Women still face many challenges that limit future economic opportunities. One of these is the limited financial guidance women are provided in life and the lack of education regarding their finances and investing. So what are the reasons “behind the scenes” that hold women back from making serious money-related decisions? Lack of confidence, lack of education, lack of encouragement or support, fear of loss, aversion to risk, etc. Many women take these things for granted and think it is something that they cannot change. I guess when they are used to not being in charge of things it’s hard to take charge. They say you can lead a horse to water but you cannot make it drink.

    This is not a plea for women to take their places at the head of various corporations, although they are more than welcome to do so; but rather, it is to highlight the general worthiness in financial independence and continued learning and experience based upon this independence. While there is no need for a woman in business or occupations traditionally held by men, why should there be any disadvantage for homemaker-women who choose to work in an area which makes them financially independent and keeps their minds active?

    Being a homemaker is a noble and important career. The world needs more homemakers than ever and we are incredibly lucky to have such strong women around us, who often go unrecognized for their selfless contributions to society. But I feel that while women’s rights have come a long way – not only in terms of high paying career prospects and equal weight given to their opinions – but also in gaining a deeper understanding of what it takes to make a child happy, the issue of homemaking that it is one of the scriptural duties of women. Yet we cannot consider homemaking independent of economic realities and obligations, especially in today’s circumstances.

    However, we also need to recognize that this blinkered ambition can take its toll. To support their families financially, women might miss out on the chance to live a rich life with purpose. The rise of feminism has given women in the West more choices when it comes to how they spend their time and how they define themselves. Many women have taken advantage of these opportunities and gone on to find fulfillment in many endeavors beyond the workplace, from homemaking to art to volunteerism. What matters most is not what you do, or even whether you earn a lot of money. It is how much you value yourself. Vastly more women have become financially independent by staying at home than have done so by going to work.

    PALAK KASHIV
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    If homemakers want, they can achieve financial freedom, but it will be challenging for them because they don’t have any source of earning to attain financial freedom but they can do it by changing and taking small steps towards getting financial freedom when women who are homemakers get some amount every month for running the house, they should try to keep at least 10% of that amount aside for them for their personal use. And what is remaining after paying all the bills to keep with yourself, women should create a plan of all the finances and incomes of the house. Women can also invest their money in banks or in mutual funds in return they can double their money. If their children are busy with their school work and lectures at that time women can do online courses, they are many such courses. Women should stop thinking that they are homemakers so they only look after their home responsibilities are allowed to continue their studies or their hobbies, they can ask for money when they need it your work cannot be counted in terms of money because you’re working even on holidays when everyone is enjoying their free time. You don’t need to do full-time work you can contribute by doing small work from home or by developing some hobbies that make you profit in near future. One can start a YouTube channel or can be a social media influencer you can begin it by small but earning a small amount not only give you a certain level of financial freedom but can motivate you or boost your confidence.

    Manpreet Singh
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    If you are going to live life on your own terms, financial independence is just as crucial for a woman as-is for a man. At this time, the woman is the nurse and the guy the provider, there can be no assurance for a festive marriage. Moreover, because women who have equal chances are no longer satisfied with the domestic front. I also believe that this duty of the housekeeper should be an option to choose rather than a “major.” The worst feeling of ever is that you throw it in your face and live off your lover. Women, in particular professionals, need to manage their finances alone. Time is vital for this, as is the profession and the family’s tasks. Women usually became self-sufficient in financial management and rely on life partners as other life responsibilities take over (esp. motherhood). But financial management itself will not only provide trust but will also ensure its monetary future.
    Women should also become interested in financial investments so that they are not misleading easily. Financial independence and management are of primary importance for them because of the changing social structure and increased divorce rates. Emotional beings are women. It’s in your DNA to feed. And so, when they have to compromise their well-established careers for a family, they don’t think twice. Being a homebuilder does not mean that you have lost your independence, but when you are treated with something that contributes nothing to the family, the problem arises.
    Although we live in the 21st century, because of the gender gap there is enormous economic inclusion. We are getting towards a stage when more digital money is available and women who possess bank accounts are inadequate compared with men. Why is that like that? There is a trend in which married ladies do not even have their own savings account. My neighbour mentioned that her husband transformed her into a joint account. Set up a bank account, learn how to use net banking and online cash transactions as well. Start to save – better than nothing whatever how modest the amount is! Most of us are aware of the importance of insurance. Request life insurance for your spouse and health insurance. Education and marriage plan and start saving for children. See some great savings methods in this regard. Before going for such schemes or insurances, always consult respected firms. As they say, before they invest, read all documents clearly. Be updated on this industry’s shifting scenario.

    DISHA SAPKALE
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    @42disha
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    Homemakers can achieve financial independence but for that firstly they need to think for herself. Generally all family members are dependent on homemakers but no one sees her financial security. And homemakers also don’t save for herself like shopping for groceries, vegetables, household expenses in that some of the money remain with them but they give that money back to their family instead they should save for herself. While having the budget for household expenses for that they should save some money for herself. Homemakers should freely ask for money from their husband, family members for their expenses or financial savings for herself. Homemakers are ones who take care of the family and do all the household chores with all the other things like seeing for clothes, food and all other stuff. Than family should also think of her by giving her financial independence. Women should start saving and investing money for herself. Their are many insurance policy for women through which they can take such policy according their choice. Homemakers can also do online courses with the help of their child through which they can also get part-time job due to which it will help them to have their own income and can spend money with their choice. Homemakers should not think like they are made to do household chores and look after family and children they can also continue with their hobbies their are many online platforms to learn. Family should support her for such activities and hobbies, so that she can also be financially independent. Homemakers work for 24/7 and in family everyone gets holiday from their jobs but what about homemakers? They work for all the days with no vacations. Society should respect homemakers because they give unconditional love for their family and always think of others first than herself. Homemakers should start keeping herself as a priority and have financial independence.

    Afshan Iqbal
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    Working women do have the privilege to enjoy the perks and benefits of being financially independent, whereas homemakers don’t. It is mandatory for women, particularly homemakers, to save some money for themselves. It is very beneficial for the future, we never know what will happen in the future! The question that arises is how homemakers can achieve financial independence? When the breadwinner of the family is a man then the homemaker is responsible for spending the money on the necessary items. So, a homemaker needs to be clever enough to save some of the money from the monthly home budget and keep it for herself. Start saving, no matter how small the amount is, it’s better than nothing! Homemakers can invest money in small funds which can later become a good amount. Women who get some time after working at home should do part-time work such as taking tutions or starting a home business. Women can also start their own social media accounts and earn as an influencer. There are many things that a homemaker can do in order to be financially independent but they have to be smart and responsible enough to make it happen. There is a sense of regret about not being financially independent in women but there’s also confidence among women to make the right decisions to spend and save for the household. In the end, a woman whether working or a homemaker can do anything.

    Shreya Shukla
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    Being financially independent should be the first thing to achieve in life. It’s necessary for both men and women. It gives us confidence and freedom of living life on our terms. It’s crucial for women because men are considered to be the breadwinners of the family so they are already financially stable. But women who are homemakers have to ask their husbands for money even for a minimal expense.
    It’s necessary for women as it gives them a sense of security that if unfortunately, her husband passes away or leaves her then also she can bear her expenditures. She can also take care of her children. Not only in these cases but in the case where the husband is solely carrying a load of his family on his shoulders then also he gets some relief if his wife is a working woman. Today’s world is rich in the usage of technology so women can opt for it as a career. It is especially for those who can’t leave their children alone so it would be like working from home and many online job portals can be chosen to apply for a job of choice. A business plan can also be put forward if it is having a scope in future.

    Samriti Sharma
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    Financial independence is a must in today’s world, and yes homemakers can definitely achieve financial independence. In the present era of technology there are unlimited opportunities available to every person. The nature of the work is not only confined to study structure. With the advancement of technology and innovation talent today is prioritised and appreciated all over the world.
    I believe every person is gifted with a certain with certain skills, abilities which make us different from each other. Like at present there are almost 160 million homemakers in India with different set of skills which can be utilised to achieve financial independence.
    Let’s take for an instance a women who’s hobbies include cooking, there is an opportunity for her to join some cooking classes to refine her skills and transform that hobby to a passion that pays off well. Likewise are many other women who do a great job at house decoration, they can pursue a course on interior designing etc. There are tremendous opportunities available provided the person is their heart and soul to the work they’ve been assigned.
    Women today are becoming well versed with technology directly which is helping them to keep in touch with the changing times and thus enabling them to earn through their passion. Various online courses are available nowadays which are offered at considerable price within a reasonable time and some of them are selectively available for homemakers.
    Financial independence of homemakers is and will be a significant achievement of the nation someday.

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