Eight Ideas For Women To Become More Financially Empowered on International Women’s Day 2024

Annually, the world celebrates the accomplishments of women in a range of fields on International Women’s Day (IWD). Annually, March 8th is designated as International Women’s Day. UN Women’s theme for the year is “Invest in Women: Accelerate Progress.” It is imperative that women are empowered in a world when many problems are being faced, such as geopolitical wars, increasing poverty, and the worsening impacts of climate change. We can accelerate the transition towards a more equal, safe, and healthy society for all by investing in women.

On the other hand, the website states that the 2024 International Women’s Day campaign theme is “Inspire Inclusion.” The theme highlights the value of empowerment and diversity in society. It demands dismantling obstacles, dispelling myths, and appreciating the contributions made by women from all walks of life.

In addition, the campaign supports education and awareness campaigns aimed at empowering women as well as diversity in leadership and decision-making positions. Filmmakers are encouraged by the entertainment business to support diversity and representation on screen. Even with the advancements, more needs to be done to guarantee women’s equal opportunity in all sectors of the economy. For future generations, the “Inspire Inclusion” theme acts as a reminder to build a more just and inclusive society.

Women’s Day 2024 is quickly approaching, so let’s take the opportunity to financially empower ourselves. We may take charge of our financial future and create a more secure and prosperous tomorrow by adhering to these finance advice for women.

Eight Tips for Women in Financial Planning and Management

1. Begin Saving as soon as Possible:

The most crucial financial advice for women is to begin saving as soon as possible. It’s never too late to start saving, regardless of how established you are in your profession. You can benefit from compound interest and lay a strong financial foundation for the future by starting early.

2. Make Wise Investing Decisions: 

Making wise investment decisions is essential to building wealth over time. Nevertheless, it’s critical to use caution when investing and to be aware of any hazards. Working with a financial advisor to create an investing strategy that fits your goals and risk tolerance is advised.

3. Learn About Government Programs:

To help women become more financially independent, the Indian government runs a number of programs and projects. It’s critical to keep up with these programs and to utilize them when appropriate.

4. Recognize and Handle Debt:

Being in debt can be a big barrier to being financially independent. It is important for women to be aware of the various forms of debt, including mortgages, personal loans, and credit card debt. It’s critical to handle debt sensibly and stay away from high-interest loans whenever you can.

5. Protect Yourself:

It’s critical for women to look out for their financial interests. Having sufficient insurance coverage, such as life, health, and disability insurance, is part of this. To guarantee that your assets are transferred in accordance with your preferences, it’s also critical to have a will and estate plan in place.

6. Diversify Your Income:

Having a few different sources of income might act as a safety net in case one of them disappears, especially in the current unstable economic climate. To augment your main source of money, think about looking into side projects, freelancing, or passive income sources.

7. Negotiate Over salary and Benefits:

Research indicates that women are less prone than males to haggle over salary, which may be a factor in the gender pay gap. When starting a new job or during performance reviews, don’t be scared to haggle for a better wage or benefits. Recognize your value and speak out for yourself.

8. Educate Yourself:

Lastly, learning about personal finance is one of the most crucial financial advice pieces for women. This entails being aware of fundamental financial ideas like investing, saving, and budgeting. A plethora of materials, such as books, websites, and workshops, are at your disposal to enhance your financial literacy.