How to Financially Empower Yourself this Women’s Day

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Women’s Day is a worldwide event where the women’s establishments are celebrated and the day also calls for gender equality. Women’s Day has been observed since the early 1900’s. A lot of women organisations, charities, corporations, governments, etc. come together to celebrate the day. There are a lot of performances, talks, rallies, marches, conferences, etc. that take place. The aim of celebrating Women’s Day is to achieve gender equality and concentrate on women’s health and education while addressing the violence towards women. While these are pressing issues, there is one that is less talked about, financial empowerment.

Women view money differently from men. They prefer security than power and this makes them more conservative. Money matters bore most women and they would have someone else deal with them.

Womensday 2017 Malaysia

Following are the various ways through which women can achieve financial empowerment:

Get educated

If you are not entrepreneurial or creative, it is imperative that you get a good education so you can secure a good job. Once you have landed a decent job, you can upgrade your education to advance in your career.

Choose the right career

Don’t settle for the first offer that you get. See where the job might lead to, have a clear idea as to what you want to be 5 years down the lane and work towards that goal.

Improve your financial IQ

Start increasing your financial knowledge, read more about various financial products. Sign up for money management classes and join online forums.

Make sure you are independent

If you are married and have a joint account, make sure that you have a separate account in your name. This ensures that you have a security net if something were to happen.

Form a money club

You can form a money club with your friends and co-workers. This will help you discuss financial matters and help you stay on track with your financial commitments.

Have a credit under your name

Take a loan or a credit card under your name. Start building your own credit history as it is important when you are applying for a mortgage. UOB offer credit cards for women in Malaysia.

Make a budget

It is important that you have a budget and you are sticking to it. You needn’t be great at math to know that you cannot spend more than what you are earning. You must make sure a part of your income is going towards investments.

Start paying yourself

When you get your salary, pay yourself a certain percentage out of it. You can keep increasing it or decreasing the amount, this will help you stay on a budget and you will know that you must not spend more than what you are paying yourself.

Take insurance

This is the most important aspect of financing, making sure that you are protected. You can choose a beneficiary for your insurance.

Make sure to have a will

If you have acquired assets, you must have your own will. You can leave your assets to your children.

These are a few things that will help you empower yourself. You must keep learning and expanding your financial knowledge. Make sure that what you earn is yours and that no one else other than you has control over your finances. This doesn’t mean that you don’t help out your spouse, you must help out as much as you can at home. If it is equality that you want, be equals in everything. While saving is important, you have the right to splurge and spend on yourself as well.

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