Posted on Friday March 8th, 2019

This International Women’s Day, it’s time to celebrate the powerful women in our life. They not only excel at work but also provide the best to her family. The time is gone when only husband earns the money and wife is to be at home only to take care of babies and family. Nowadays there is nothing that woman can’t do financially. So all the independent woman step up and take charge of your finances. You can open a Fixed Deposit in your child’s name, get a “Personal Loan at Lower Interest Rates” inherit property from her parents, become a co-applicant for a Home Loan, and set her husband as nominee for Mutual Funds etc. The new reality of working women has led to changes in economic and personal relationships within the family, society and the workplace. This change has led to many women taking care of their own finances.If you aren’t one of them who are well versed in the field of finance, take heart that it’s not rocket science. ShubhBank inspires you to build wealth by following these steps and we ensure you that your wealth grows just the way you want it to.

Be determined: A great mind-set is the first step towards being financially wise. Develop a self-belief that you can handle your finances and small changes in your life can lead to big results. Start by learning to read personal financial columns in newspapers, or enroll yourself in financial workshops. Getting the help of a financial advisor is also a great idea.

Track your expenses: You need to take up an excel sheet or an app that works for you to track your expenditures. When you start understanding your spending patterns, you will start cutting down on those superfluous expenses. Don’t spend to de- stress, without analyzing your needs, to avoid peer pressure or because of irresistible offers available in market.
Pay attention to yourself: It’s important to take care of your loved ones and it’s equally important to pay attention to yourself. Make a priority to save for your old age life. Keep your retirement funds separate from that of your spouse. Never use these savings for other expenses of your life such as vacations and wedding. It is best to start early when it comes to save for retirement.

Stay updated: Ignorance can be quite dangerous when it comes to your finances. It’s important to know what’s happening with your finances. Whether it’s your husband, parent, or a trusted advisor taking care of your finances, you need to look after what’s going on. Discuss your financial decisions and get to know about assets that you own separately as well as along with your partner. Details of loan scheme and other investments in your or your partner’s name are other crucial things you need to remain informed about. Review the performance of the investments along on a regular basis with your partner. This will help you in where to put your money and how to get profit out of it. Stay bold and urge up to new heights of success.

Happy International Women’s Day!