TomorrowMakers

Gender equality is the new normal, and your daughter should be financially literate to face the world when she grows up. Know why you should teach her important financial lessons during her growing years.

daughter financials Independence

According to a report published by the Humanity Welfare Council, 80% of India’s women population face difficulties with financial literacy. Moreover, 62% of women either do not have an active bank account or have limited access to banking facilities. In today’s competitive world, this number is a setback for the modern woman who is career-driven and independent. As such, women are slowly taking control of their finances and learning the ropes. If you have a daughter, it is important to make her financially literate so she can grow up financially independent. Let’s elaborate on why.

  • About 80% of Indian women are not well-versed in financial matters, which impedes their growth.

  • If you want your daughter to have a good career and secure future, you must make her financially independent.

  • Start by teaching financial literacy to your daughter as she grows up so that she can use the learning later on in life.

  • Some reasons why your daughter should understand finance include emergency planning, controlling her finances, being independent and resilient, etc.

 

Why Financial Literacy is Important for Your Daughter?

Here are some reasons which outline the necessity of financial literacy –

  • Financial independence 

A financially literate woman is independent and does not have to depend on her male partner. She can handle her career, manage her income and expenses, save, and even take care of the family if her husband passes away prematurely or in the case of a divorce.

Also Watch - https://www.youtube.com/watch?v=bmyzRf3bV3k 

  • It makes women capable of handling emergencies

Emergencies can strike unannounced, and when you are financially prepared, you can avoid a crisis. As your daughter learns the importance of financial management, she can save enough for those rainy days. It helps her family escape a financial crunch.

  • She can manage her family’s finances

Why should managing the family’s finances be a son’s or husband’s duty? Your daughter can also match steps with her husband in managing and caring for the family’s finances when she is financially aware.

  • She can fulfil her financial goals

Your daughter might have financial goals of her own, like buying the latest mobile handset, going on a trip, buying a car, a home, etc. By being financially independent, she can save and accumulate a corpus to meet her financial goals.

Also Read – Sukanya Samriddhi Yojana – a scheme for your daughter’s financial security

Click here to read the latest articles on Wise Up

The Bottom Line

A saying goes – Well begun is half done. Start imparting financial literacy to your daughter when she is young so that she can use the lessons as she grows up and becomes financially independent.

Also Read – Here are 5 financial lessons for your daughter

According to a report published by the Humanity Welfare Council, 80% of India’s women population face difficulties with financial literacy. Moreover, 62% of women either do not have an active bank account or have limited access to banking facilities. In today’s competitive world, this number is a setback for the modern woman who is career-driven and independent. As such, women are slowly taking control of their finances and learning the ropes. If you have a daughter, it is important to make her financially literate so she can grow up financially independent. Let’s elaborate on why.

  • About 80% of Indian women are not well-versed in financial matters, which impedes their growth.

  • If you want your daughter to have a good career and secure future, you must make her financially independent.

  • Start by teaching financial literacy to your daughter as she grows up so that she can use the learning later on in life.

  • Some reasons why your daughter should understand finance include emergency planning, controlling her finances, being independent and resilient, etc.

 

Why Financial Literacy is Important for Your Daughter?

Here are some reasons which outline the necessity of financial literacy –

  • Financial independence 

A financially literate woman is independent and does not have to depend on her male partner. She can handle her career, manage her income and expenses, save, and even take care of the family if her husband passes away prematurely or in the case of a divorce.

Also Watch - https://www.youtube.com/watch?v=bmyzRf3bV3k 

  • It makes women capable of handling emergencies

Emergencies can strike unannounced, and when you are financially prepared, you can avoid a crisis. As your daughter learns the importance of financial management, she can save enough for those rainy days. It helps her family escape a financial crunch.

  • She can manage her family’s finances

Why should managing the family’s finances be a son’s or husband’s duty? Your daughter can also match steps with her husband in managing and caring for the family’s finances when she is financially aware.

  • She can fulfil her financial goals

Your daughter might have financial goals of her own, like buying the latest mobile handset, going on a trip, buying a car, a home, etc. By being financially independent, she can save and accumulate a corpus to meet her financial goals.

Also Read – Sukanya Samriddhi Yojana – a scheme for your daughter’s financial security

Click here to read the latest articles on Wise Up

The Bottom Line

A saying goes – Well begun is half done. Start imparting financial literacy to your daughter when she is young so that she can use the lessons as she grows up and becomes financially independent.

Also Read – Here are 5 financial lessons for your daughter