67% Working Women Contribute Towards Family's Budget: Survey

A recent survey conducted on Indian women found out about the financial habits of working women in the country. The data collected from Tier 1 and Tier 2 metro cities of India shows an interesting proportion of women who contribute towards the family's financial budget.

The survey was conducted on about 10,000 working women in India out of which 10% were from Delhi NCR. It was found that about 70% of working women in Delhi contributed their income actively in the family's budget. Infact, about 31% gave half of their savings to household expenses.

However, despite contributing to the family's expenses and being involved in financial decisions in the house, about 32% women still found it difficult to understand the complex terms and operations of finance and investment. 

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Working Women Contribute To Family Expenses

The survey that was conducted on a pool of working, homemakers, self employed and salaried women of the age group 21-65 years showed that about one-third women felt confident in making financial decisions and that almost all of the working women have keen interest in learning about personal finance. For most of the women, nearly half of them, the source of financial knowledge is social media followed by news articles, seminars and professional help.

A similar survey was recently conducted on working women in the US as well which had similar results as the survey conducted on Delhi women. That largely shows that the financial habits and choices of women are quite similar around the world. 

Financial knowledge is one of the most important things for any person yet women have largely been kept away from it. The society never found it relevant to teach the girls about finances, expenses and taxes which is largely why women find it really complex and female representation is still quite low as compared to men in the field of finance and investment.

It is refreshing to see that women are not only becoming financially independent but are also contributing towards family's income. Earlier there were many stereotypes about people accepting their daughters' income but it is important to understand that if a man can earn for the family, so can a woman. Family and financial responsibilities should not be gender-based, men and women should equally contribute to finances of the house as well as the chores.