A woman provides the necessary support system required to run the household – that is the traditional thought.
When needed the woman can also come to the forefront and be the backbone required to support the business and the decisions is therein.
This they can do easily because of the instinctive nature that they are blessed with men.

 

What are the most important things that a women needs which you can gift on women’s day?
EmpowermentSha-śhakti-karaṇa (that we have what we need so don’t worry) 
Involvement = Samavesh (that is what has been planned)
Advice = Salah (that your opinion counts)

 

1. What to do next? How to empower?

a. Talking – By simply talking about money, you will expose her to the topic, increase her knowledge and ideally, engage her interest in a subject that will be an important part of her life.

b. Outsource to her – There are a host of financial activities that are simply a part of everyday life. Give her a head start by teaching her about the basic financial activities that take place around her on a daily basis.

c. Banking – The basic tasks associated with banking, such as, writing cheque, borrowing money and paying interest, occur on a monthly basis in most households. Assign her as the nominee for your investments and savings account.

d. Give a portfolio to her to manage – 1-10 lakh or more as convenient or complete! Let her start making her own financial decisions.

e. Buy life insurance for yourself & inform her!

 

2. How to involve her?

a. Budgeting : Home – Learning how to properly manage a budget is one of life’s most valued skills; both spending and saving habits can be taught early on.

b. Budgeting : Office – Analysis on what we are spending on and how we can save or spend better.

c. Make her the executor for your will. Keep her in the know of things.

d. Make her your confident.

 

3. How to seek her advice?

a. Education and Marriage planning

i. Show how you evaluated your children’s future needs, how you forecast or the fulfillment of your children’s desires and ambitions.

ii. The expenses that may arise in future, keeping inflation in mind.

b. Show what you have done for your other priorities retirement, medical expenses etc.

i. The process of saving and investing early. Creation of adequate corpus.  

ii. The financial decisions which determine your asset allocation.

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