- Date : 14/11/2019
- Read: 4 mins
Feminism is taking the world by the storm. Let's take a look at how this ideology can be applied to your finances.
Financial feminism’ is a very powerful term – and rightly so, especially if you’re a woman. For the longest time, women were taught that money isn’t a suitable subject for them. We’re not suggesting that you talk about cryptocurrency with the girls on a Friday night. However, as a woman who earns her own money, financial matters shouldn’t push you out of your comfort zone.
Financial feminism is the belief in financial equality for all women. While working towards bridging the gaps that women face, here are five things you need to do that will make you a proud financial feminist:
1. Break the glass ceiling
Women often shy away from pushing their case when it comes to the issue of gender pay gaps. About 19% of Indian women earn less than men and the difference has reduced only marginally over time. This gap is wider for semi- and highly-skilled women across occupations. A survey by Monster.com titled ‘Women of India Inc.’ found that almost 60% of Indian women felt discriminated at work and 66% felt that gender parity should be a top concern at organisations today.
It’s not about only making money. It also matters how you work towards changing the way the world perceives women and money. To have the power to negotiate at work will help you close the pay gap between genders. In short, challenging stereotypes to build a sustainable future for women makes you a financial feminist.
2. Talk about money more
A financial feminist feels free to talk about money, money, and more money. An uncomfortable topic that was considered almost taboo for women is a real issue even today. Which is strange, because over nine out of ten women have handled their own money at some point in their life. Talking about money, managing your own money, and educating yourself financially can be empowering. If you are a staunch believer of never censoring your beliefs on money, you are a financial feminist.
3. Battle the investment gap
Financial feminism looks at money as a medium of self-care because you don’t need men to empower you. Today, financial feminists are building a new world because they can. The ‘investment gap’ is a real issue not because women are bad investors, but because women don’t feel the need to invest as much as men do. Saving and investing money gives you autonomy over your life. Having the confidence to be a financially independent feminist will set you free from the what-ifs of life.
4. Narrow the confidence gap
Women today are more than capable of being equal to men. Despite this, the majority of Indian women are not included in any financial decisions of the household. There are more entrenched barriers for women than for men that hinders them from climbing the ladder of financial confidence, but the question that financial feminists should ask themselves is: at what cost? Having the courage to put yourself out there, acquiring knowledge about money matters, and leaning towards risk with confidence makes you a financial feminist.
Related: 5 Professions dominated by women
5. Embrace and celebrate
As a woman, you can be both strong and empathetic. Do you choose to embrace your financial feminist differences and elevate yourself, or would you rather compare to compete? Once you have answered these questions in your head, you would know if you are a financial feminist or not. So, amplify your voice; encourage others to dream, and uplift women who don’t have the same privileges that you do. As a financial feminist, the bond of sisterhood should embolden you to raise your children with the same belief of ‘equal opportunity’.
Ultimately, to a financial feminist it’s not about just getting women to earn more, but about uplifting them to build a future that supports their beliefs. This is what financial feminism means to us. Is it the same for you? Additionally, financial abuse is a real thing. Here’s how to tell if you’re being subjected to it.