Save & Invest: Earning Money Changes Everything For A Woman

I am personally of the opinion that earning money changes everything for a woman. I also feel every woman has the ability to earn, and things like “women can’t work after marriage” or “women can’t balance family and career together” are now a thing of the past. Remember the time when it was assumed that women depended on their partners for a secure future, and that any amount of money they were earning was just pocket money that she could use to buy her favourite things? I'm glad to see that the idea that women cannot earn for the house is slowly being made redundant and that we are moving towards a future where women are working for their own financial health. Insurance, investments, stock markets, shares are not boy talk anymore.

Financial independence truly sets women free, and I speak from experience

Financial independence truly sets women free, and I speak from experience. When I stepped into the corporate world in 2012, I was of the opinion that a regular 9 to 5 was the way to go, a limited salary was what I had to learn to manage in, and it involved saving up for marriage. Today, six years later, I am a successful freelancer and blogger, with the fire in me to earn more money, and to one day buy my own house, car, and whatever it is that I/my loved ones wish for. It was somewhere in 2015 when this shift happened, and all of this is related to improvement in my financial health.

Money makes women ambitious, strong, powerful, fearless, expressive, confident, and that is what the women in our society need today

I lived on a hand-to-mouth existence all of 2012. Year 2013 got better as I stepped into the freelancing world. I started investing in SIPs and had a minimal amount with me to spend on myself every month. 2015 was a good year for the finances, and suddenly I got the confidence to go and get more -- more work, more money, and more confidence. From “I must save”, my mantra turned to “I must invest”.

Let me give you a sneak peak into how I manage my finances today.

Invest > save

Why would you want to keep all that money in your savings account when you can use all that money to grow more money? – a simple question my father asked me that changed everything for me. I have been investing is SIPs since 2013, and every six months, I review the account statements to get an idea of which funds are performing well. I then invest a lump sum in the best performing fund.

Plan retirement

I have invested in long-term funds which will mature by the time I am ready to retire. It feels good to know that my future is secure, something that I am working hard for today. I invest a large amount in a relevant fund once a year.

Save for a rainy day

My savings account has enough money to last me two months in case I have absolutely no source of earning. Anything over and above that goes in my investments.

Which brings me to my next point –

1. I plan my months in advance
2. I love the comfort of security, which is why you will see me planning ahead in terms of my finances. As far as my financial security is concerned, I plan my expenditure, earnings, etc two months in advance so that it helps me calculate if there is any new amount to be invested.

Needless to say, I work hard to earn all my money. I also plan my work according to my monthly target. By that, I mean I work with a figure in my mind, and it is up to me to earn that amount in a month. Being a freelancer, I am my business development guy, my executive, my creative head, accountant and manager. Working with a set figure in mind helps me stay focused too. Plus, it is also easy to see how one has the capability to earn so much more with effective planning and execution.

I do not have any source of income other than myself, and I am proud to say that I have maintained this successfully for the last six years. Things have got better over time, and today I know I do not have to worry about spending on a vacation or a new laptop. I also gift something to myself annually, a practice that I feel makes me grateful and motivates me to do even better.  

Earning all that money isn’t only about a change in material possessions. Money makes women ambitious, strong, powerful, fearless, expressive, confident, and that is what the women in our society need today. There's nothing wrong in being the man of the house, there's nothing wrong in striving for economic independence and I am grateful to women around me who have served as a source of inspiration to all of us, right from the househelp to my colleagues. No, money is no longer a man's responsibility.

Here's to nurturing a better future together.

Views are the author's own