3 Money Rules Women Must Follow

Women typically do not take part in financial discussions and leave it to the family. But that is wrong. It’s as much your right to discuss money whether you are working or a homemaker

- By LARISSA FERNAND

My friend’s daughter will soon be completing her Class XII board exams. She has been exploring various avenues as to what she wants to pursue professionally. She finally decided on one and told her parents about it. It was a four-year course and the fee was `6 lakh per annum. Her father instantly recoiled by pointing out how expensive it was.

The young girl retorted, “But you spent `4 lakh per annum on bhaiya’s education. Is it because he is a boy and I am a girl? Or is `4 lakh the upper limit for me too?”

Her father grudgingly admired her grit and took it in a very positive way. In fact, he was quite proud of her when he narrated the incident to me.

International Women’s Day is on March 8. The United Nations has set the theme for 2025 as “Rights. Equality. Empowerment.” Let’s apply this with regards to money and finances.

Here are three don’ts I suggest.

1] Don’t Avoid Conversations With Your Spouse

Start with conversations. What ties families together is the love, desires and ambitions that they have for each other, and the dreams they want to achieve together; and money is a great enabler. But that’s not to say that there are no challenges. When money comes up in a conversation, different emotions arise depending on who you are.

Money conversations are very difficult, because money is a complicated issue. When money issues are being decided, an entire gamut of emotions—not all good—come into play. It is the tool to fulfil your obligations, assuage your guilt, accomplish your dreams, prove your worth to the world, smoothen your fears, and compete with your peers.