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Related Articles: Managing Household Finances Easy For Women
Women are no more considered as someone who can only prepare food for the family and care for the child. Today, women are smart, financially independent, super moms and the adjective goes on….
When it comes to finances, no one forgets the March year ending, day of the year- the tax day. You must be working on spreadsheets, forecasting your upcoming financial year and number crunching your finances. Yes, it’s never fun, but you need to stay on track. There are creative ways to invest and save your hard earned money and maximize your incomes.
A survey says that women in Asia/ Pacific are keener to manage their monthly household finances while men take care of the investments. Women are more likely to manage their household finances compared to their partners and retain the power of the domestic purse. Be it monthly savings, household finances, investments or decisions on children education, women are now experts in making decisions at home.
This shift has resulted in higher rates of savings that is about 91% when women are in charge of long term financial planning compared to 82% when men have taken the responsibility. When it comes to financial matters, it is important to take control of every opportunity that makes your money work for you. And the big thing is that sometimes a little advice can go a great way.
We understand that with expenses, increasing day by day, it is difficult to maintain a good lifestyle throughout retirement. But managing your finances confidently and cleverly can help you to increase the savings and generate more income. You can schedule for financial, retirement planning or even invest in stocks and bonds. But, women usually throw up their hands when it comes to long term financial decisions regarding investments.
With the financial world becoming more complex and dynamic and with constant fluctuations in the market, experts are of the view that the best means for women to become more responsible and get involved in financial matters is through self educating or getting advised by an expert. It is with the help of informative blogs, online tools and calculators and various investment products that women can take an informed decision.
Today, women should take ownership of the financial decisions and understand the basic market risks, investment opportunities and other financial matters. By helping her spouse managing money, drawing budgets, working towards financial goals, women can become more efficient at it and even manage personal finances. This will help her to avoid any unavoidable financial problems in the future.
So, take control of your finances now… the sooner the better.
In this category of Motherszone, we will share wonderful tips and recommendations on managing your money from home.