Financial planning is not rocket science

Research has proved that majority women stay away from financial matters, and this habit is prevalent not just in woman who are homemakers, but also many working women. They usually seek the help of their brothers, father or husband to deal their financial matters – and there are instances when they landed in trouble because of the habit.

Thanks to this aversion, many women also tend to over spend, are psychologically wary of anything to do with investment, savings, bank dealings, and would rather play a second fiddle in these matters. It’s just a matter of resolving to handle financial matters themselves; women will quickly take to planning and strategising finances as fish take to water.

A quick to-do list that will guide you on your path to financial independence

• Stop depending on anyone else to take care of your financial dealings, how much ever close they are to you or willing to help you.
• Learning about money management, financial security and investment is a gradual process, but is not impossible to understand. You can start by going to the bank regularly.
• Do not shy away from learning new terms and processes when you go to banks or meet your financial advisor.
• Start investing in smaller savings schemes post offices are a good way to begin, before your learn and understand investment.
• Stop giving into impulsive shopping urges, instead write down your expenses and earnings, and keep limited money on you. Keep away your debit and credit cards. The key is to have enough savings and emergency fund even after the expenses, before you decide to indulge.
• Last, but not the least, Stay confident.