In dictionary, the real meaning of women empowerment is “making a woman stronger, confident, especially in controlling her life and claiming her rights”. One of the best methods for achieving women empowerment is financial independence. It is through financial independence, a woman gains confidence, stands on her own feet, makes decisions and become an equal contributor to the family and society.
Financial independence is important not only for women from rural and low income communities, but also from women from rich, affluent families as well. When a woman earns for herself, she is immediately more in control of her life.
Scenario in India
Financial independence is important for women who live in abusive households, be it as wives, daughters or daughters-in-laws. It has been reported that 70% women in our country face some form of domestic violence. And one common reason for this is that they are dependent on others for finances, and thus bear the brunt of abuses from the male members of the family.
Most middle-class and low-income group families do not feel the need to make their daughters educated and financially independent. Instead, they are set off to get married and become mothers at a very young age. Such women remain financially dependent on their husbands, and they solely remain as the caretakers of the family but not as the decision makers.
What happens when women are financially independent?
Research has reported that that when women earn, they are able to save and re-invest almost 70 to 90% of their income and this investment is for the future of the entire family. On the other hand, a man can reinvest only 30% to 40% of their income.
When women participate in the workforce, it benefits our country and economy too. Experts say that when the women of our country start working outside their homes, their contribution to India’s GDP will be much higher than men and India’s GDP can expand more progressively. Women’s financial independence is possible through jobs and business, something which they want to do willingly and are capable of.
Benefits of being a financially independent woman
With the high cost of living that everyone has to put up with in today’s age, it makes sense that every women should work and earn. In India, many women are efficient housewives and moms and their careers take a back seat with motherhood and domestic responsibilities. Whether married or unmarried, there are not one but many reasons for the need of financial independence for women:
- To be a support at the time of emergencies or adversities in the family or on herself: You cannot rely on only one bread earner in the family. You never know when there can be emergencies at home as jobs or life are never super secured. It makes sense when the lady of the house also contributes to the family’s support system.
- To meet today’s rising expenses: If you want to lead a comfortable lifestyle, you need to earn. In today’s time to meet the increasing inflation, to provide good education to children, to own a good home, to enjoy life, money is important. Women who are financially independent can contribute to the expenses of the household and also be able to meet the family’s financial goals.
- To gain confidence, feel responsible and morale boosting: Financial independent women are confident, are decision makers and have their own say and opinions. They are not controlled by anyone. They have a mind of their own, They have their own self-respect. These make women more responsible and also help in boosting their morale at all times.
- To live a life on her own terms: Without depending on others for money, she can lead her own life and in her own terms. Such a woman does not become a victim of abuses, neither in her own home nor in her on-laws’ home. She knows to live her life in a way that she likes, following her dreams and aspirations.
- To be a mentor and role model: Last but not the least, when a woman earns, she becomes a great help to support the needs of the family financially and also socially and emotionally. She can be a role model for her children as she manages both her work and home efficiently. She can be a good mentor to others too. She becomes a strong, confident modern day woman which everyone looks up to.
GharSeNaukri and Financial Independence for Women
It is extremely important for all women to be financially independent. Now the big question is how? There is still a huge section of skilled women in our country who are in the category of “homemakers”, who want to work and earn but cannot do so for family commitments. It is for these women, there is GharSeNaukri.com which offers endless work from home opportunities for women. You don’t have to step out of your home…you work as per your convenience and earn and become financially independent. And there is WomeninBusiness.in, our sister concern, who offers a platform for women to start their own small home business.
Join us and help us in our endeavor to make all women of our country empowered and financially independent.