7 Rea­sons Why Fi­nan­cial Free­dom Mat­ters

ON WOMEN’S DAY, VIBHA PADALKAR, EX­EC­U­TIVE DI­REC­TOR AND CFO, HDFC LIFE EX­PLAINS WHY YOU NEED TO BE YOUR OWN BOSS WHEN IT COMES TO MONEY

India Today - - LAST WORD -

1 BE WELL PRE­PARED

One might have to deal with events like di­vorce, bankruptcy and ill­ness, which ar­rive unan­nounced. Be­ing fi­nan­cially in­de­pen­dent al­lows you to be pre­pared for any un­fore­see­able cir­cum­stances.

2 NO MESS­ING AROUND

Be­ing pro­fes­sion­ally and fi­nan­cially in­de­pen­dent gives you a sense of self worth which is ex­tremely im­por­tant for ev­ery woman. When you are stand­ing on your own two feet no one can take you for granted.

3 SET­TING A GOOD EX­AM­PLE

Chil­dren al­ways try and em­u­late their par­ents. So when your child sees a con­fi­dent and self-re­liant mother, they will have a good role model to look up to and learn from, es­pe­cially when it comes to daugh­ters.

4 TIME TO THINK AHEAD

A woman is for­ever play­ing dif­fer­ent roles — daugh­ter, wife, mother — in which she is al­ways the care­taker. But these roles won’t last for­ever. One day when your chil­dren have flown the nest and your hus­band has re­tired you may start to feel a void. If you have suf­fi­cient sav­ings you will be able to start a small-scale home busi­ness or ful­fil your dream of see­ing the world.

5 HID­DEN TAL­ENTS

When you are forced to pro­vide for yourself only then will you re­alise your full po­ten­tial. You may have ex­cel­lent com­mu­ni­ca­tion skills or you may have a sharp busi­ness mind but un­less you go out into the world on our own you’ll never know what skill sets you pos­sess.

6 FREE WILL

A healthy bank bal­ance means that you’re free to in­dulge yourself with­out hav­ing to suf­fer any guilt pangs about spend­ing your par­ent’s or hus­band’s money. Whether it’s a shop­ping spree, a spa treat­ment or a hol­i­day with your girl­friends, you’re the only one who de­cides how your money is spent.

7 TAK­ING CHARGE

It’s a med­i­cally proven fact that women live longer than men. If you make fi­nan­cial in­de­pen­dence a way of life you will not be left in the lurch if you hap­pen to out­live your part­ner one day. Be­ing self suf­fi­cient is re­ally the best gift you can give yourself.

by Mridu Rai

NAT­U­RAL IN­STINCT Padalkar be­lieves that, con­trary to pop­u­lar be­lief, man­ag­ing fi­nances comes nat­u­rally to most women

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