International Women’s Day (IWD) is a worldwide celebration of women’s achievements in various fields. This International Women’s Day is celebrated on March 8th every year. This year, UN Women has declared Investing in Women: Accelerating Progress. Women’s empowerment is critical in a world facing multiple crises, including geopolitical conflict, rising poverty, and the worsening effects of climate change. By investing in women, we can drive change and accelerate the transition to a healthier, safer and fairer world for all.
The 2024 International Women’s Day campaign theme listed on the website is “Inclusion.” This theme emphasizes the importance of diversity and empowerment in society. We need to break down barriers, challenge stereotypes and recognize the contributions of women from diverse backgrounds.
The campaign also promotes education and awareness efforts to promote diversity in leadership and decision-making positions and empower women. In the entertainment industry, filmmakers are encouraged to promote diversity and on-screen representation. Although progress has been made, there is still much work to be done to ensure equal opportunities for women in all fields. The theme ‘Inspire Inclusion’ serves as a reminder to build a more just and inclusive society for future generations.
Women’s Day (2024) is rapidly approaching; let’s make the time to financially empower ourselves. We women may take charge of our financial future and create a more stable and prosperous future by heeding these financial advice guidelines.
8 Financial Planning and Management Tips for Women
1. Start Saving Early:
One of the most important financial tips for women is to start saving early. Whether you’re just starting your career or already established, it’s never too late to start saving. By starting early, you can take advantage of compound interest and build a strong financial foundation for your future.
2. Invest Wisely:
Investing is an important part of the process of building wealth over time. However, it is important to invest carefully and be aware of the potential risks. We recommend working with a financial advisor to create an investment plan that meets your goals and risk tolerance.
3. Check out government schemes:
The Indian government offers various programs and initiatives aimed at economic empowerment of women. It’s important to stay informed about these programs and take advantage of them when appropriate.
4. Understanding and Managing Debt:
Debt can be a major barrier to financial freedom. Women need to understand the different types of debt, including credit card debt, personal loans, and mortgages. It’s important to deal with debt responsibly and avoid high-interest loans whenever possible.
5. Protecting Yourself:
As a woman, it’s important to protect yourself financially. This includes appropriate insurance such as health insurance, life insurance, and occupational disability insurance. It is also important to have a properly drafted will and estate plan to ensure that your assets are distributed according to your wishes.
6. Diversify your income sources:
In today’s uncertain economy, having multiple sources of income can provide a safety net in case one source dries up. Consider side hustles, freelance work, or passive income opportunities to supplement your main income.
7. Negotiate Your Salary and Benefits:
Research shows that women are less likely to negotiate pay than men, which may contribute to the gender pay gap. Don’t be afraid to negotiate for higher pay or better benefits when starting a new job or during a performance review. Know your worth and advocate for yourself.
8. Educate Yourself:
Finally, one of the most important financial tips for women is to learn about personal finance. This includes understanding basic financial concepts such as budgeting, saving, and investing. There are many resources available to help improve your financial literacy, including books, websites, and workshops.
