Why should women be financially independent?
Women should aim to have financial security and not rely on
the men in their lives. It is a fact that women now live longer
than men and they usually end up being poorer in retirement
as they are less prepared. Women tend to earn less and invest
less, which means they have less pension and retirement benefits.
It is therefore essential for them to learn to control their
spending and realise that managing money is as important as
earning it. Why
should women have knowledge about finance?
Most women feel they don’t have a thorough understanding
of personal finance because they think they are not good at
maths. They tend to be too conservative and are intimidated
when it comes to making financial decisions. And when in doubt,
they tend to do nothing.
- Knowledge
about financial matters will help you become more effective
in decision making. You would be less likely to make mistakes,
be misled and you will learn to distinguish your needs from
your wants. You will better understand the different types
of investment product in the market, new technology and
advances in financial services.
By
being financially literate, women can improve their quality
of life as they practise sound management behaviour, make
decisions that are consistent with their values and become
more aware of their rights and responsibilities. Women have
the capacity to learn, and acquire knowledge and skills. |
