- React and Act:
Stop reacting emotionally to matters that involve money. Before acting and reacting , think from 360 degrees angle and take calcualted decisions.
Change impulse choices to informed choices
- Educated and Informed Decisions:
Educate yourself about all aspects of money that impact on your everyday life.
Increase everyday the amount of things you buy with cash until you have no further need for credit cards or borrowing.
Knowledge of different investment avenues, savings and expenses is important to run a family.
- Don’t use money to make yourself feel good:
promote self-respect and creativity so you don’t have to seek those feelings through spending money.
Love money but don’t make it a habit
- Talk about money matters:
Be more vocal about money matters in the home, office, society.
Show dedicated interest in knowing more and more about money management .
Always take a stand on expressing your view point strongly on any money related matter.
- Build an emergency fund:
It is very important to have a backup for any kind of emergency.
This may be required for job loss, significant medical expenses etc.
Hope for the best and Expect the Unexpected.
- Take hold of your Finances:
If a woman handles her own finances she is well prepared to handle money matters in best possible way individually if the need arises.
- Set Goals:
They are your aspirations- Where are you right now to Where you want to Reach.
Setting goals in writing sets your focus straight. It’s a key to financial success.
- Be confident with your Hareepatti :
While nearly 100 % of women are confident in managing their own money but when it comes to taking care of their finances, they take a back seat.
Resist the lure of debt, live within your means and be content with what you already have.
Gurleen Kaur is a Financial Consultant and devotes her time to her company www.hareepatti.com. She has done her Bachelors in Finance and Investment Analysis(BFIA) from College of Business Studies(CBS, Delhi) and MBA from IMT, Ghaziabad. She will be a Certified Financial Planner by June 2014. She can be Contacted at [email protected]