Women and Money

Times have changed we have nuclear families, women also working, higher cost of living, and parents asserting their financial independence. So after marriage, there is my money, your money and then your expenses, my expenses, our expenses, my goals, our goals, my career, our career, our investments etc. A couple has to decide how will they handle finances (joint account, investments, running of the house, goals of when to buy bike/car, house) etc. But one also has to talk about how they will support their parents.

Taking control of your money is probably the most important thing you can do. Managing finances has been a male agenda due to the gendered division of household duties. And women often overestimate the men’s ability to do it right and underestimate their own ability to manage their financial life.

Money jargons, financial terminologies puts off many people and especially women. Remember no one was born with financial knowledge, one needs to start from basics like ABC or Do re me. Start by reading one money article a week. Subscribe to good YouTube finance channels.

• Women and Financial Planning
• Money resolutions for Women:Femina Article
• Prenuptial agreement, Financial discussion before marriage
• Joint home loan with Spouse: Pros and Cons  Joint home loans offer immense benefit when compared to a regular home loan. One should always remember to pay the EMIs on schedule, as any delay or default could lead to legal action on part of the lender, which will affect all the co-borrowers equally. Should a married couple apply for a joint home loan or not?
• After Marriage: Parents and Finance: Do you have frequent fights with your spouse related to money for example because he or she is spending an inordinately large part of income on his or her parents?

Video on How Women should take control of their money

This 3-minute video from Monika Halan, author of the book Let’s Talk Money, on how women should take control of their money.

What Married Women Should Know about Home Finances – and ask her husband if she doesn’t

Among married couples with a single earning partner, a skew often slips into the financial equation. If the husband takes care of everything, from earning and spending, to saving and investing, there is a tendency to dictate terms to the non-earning spouse. In many marriages, the husband shares money, but not information regarding his salary, spending, or investments. What happens if something happens to the husband?

What Women should know about home finances

Rights of Women

What are the Inheritance rights of women in India? How much right Priya, a Hindu woman, has on her parent’s property, how much right she has on her husband’s Suhas property & wealth? What is she had married outside her caste? What rights does Salma or Suzie have?

• Inheritance rights of Women in India: Hindu, Muslim, Christians
• Maternity Leave :Duration, Wages,Maternity Benefit Act
• StreeDhan : What is it? Why should one know about StreeDhan?

Divorce

• Divorce: The process, Settlement, Custody of Children and Alimony : What is Divorce? Types of Divorce, What are the Rights of Women on Divorce? What about Loans, Bank Accounts, Investments on Divorce? How much Alimony does one get? How does the law decide Who gets Custody of Children?
• Divorce: Mutual Consent or Contested, Process, fees:  What is the process of getting a divorce through mutual consent or contested divorce. The fees involved.

Paper Work and Women

• How to Change Name Officially: The procedure for legal name change in India is straightforward but somewhat time-consuming.The legal way to change the name is to apply for name change in the state government gazette.  You also need to see what documents you need to change your name in PAN, Aadhaar, Driving licence, Voter’s identity card, Financial documents: Bank Accounts, Deposits, Loans, Insurance Policies

Society and Women

Like any other girl, we grew up fantasizing about our handsome prince, living in a dream home having kids and living happily ever after. In truth happily-ever-after never came.  (No wonder all fairy tales end with handsome prince taking off his princess in the horse but where to?).

• Oh you are only a housewife! : “Oh… so you’re a housewife… then you have it easy….you must have lots of free time.”  Housewives are looked down, some even go as far as suggesting that a housewife contributes nothing of value but only knows how to spend her husband’s money, thus depleting his financial resources!
• PINK is not What Women Want : Making a product cute, pink or shiny does not automatically make it for women. It’s time for eve-olution. Brands need to focus more on the needs of target markets which just happens to be women and less on the general idea of a woman customer. Pink is not a substance, cuteness is not a product feature and it certainly isn’t a marketing strategy. 
• Comparing Stock market to Woman: Because only when you experience the whims of a woman will you understand life… and markets,” said Rakesh Jhunjhunwala to Fake Jhunjhunwala, Aditya Magal. Is it true?
• Marriage vs LiveIn Bollywood, Sadguru and Seven Pheras:  Is Marriage necessary today? What about Live-in? How do the two compare?
• Can Women Have It All : Indra Nooyi, Anne-Marie Slaughter,Sheryl Sandberg :   I don’t think women can have it all. I just don’t think so. We pretend we have it all. We pretend we can have it all.
• What Undhiyu taught me about marriage!

Women that inspire

Nita Ambani: Is there is more to her than money? Nita Mukesh Ambani is the wife of the richest man in India. But there is more to her than that. She is a multifaceted personality, co-owner of Mumbai Indians, runs Dhirubhai Ambani International School(DAIS), a Bharatnatyam dancer. 

Nita Ambani on Money, Mukesh, Dance, Kids and more: She comes across as the women very focused, hard-working and very much in love with Mukesh and her children. What do you feel about Nita Ambani?

PV Sindhu – First Indian to win World Championships: How was PV Sindhu’s journey? What sacrifices did she make? Where has she studied? How much does she earn through brand partnerships?

Kylie Jenner: Billionaire, Keeping Up With the Kardashians, Kylie Cosmetics: In Mar 2019, At 21, Kylie Jenner became The Youngest Self-Made Billionaire Ever.  Who is Kylie Jenner? How is she related to Kardashians? What is the show Keeping Up With the Kardashians? What is Kylie Cosmetics?

Famous Weddings

Deepika Padukone and Ranveer Singh Wedding, Cost, #DeepVeer: All about Deepika and Ranveer Konkani and Sindhi weddings on the banks of Lake Como, Italy on 14 Nov and 15 Nov 2018. By keeping a small family they showed that family comes first. It is also a strong message to young Indians who are increasingly opting for inter-community, inter-religious alliances. What was the Cost of the Wedding of Deepika Padukone and Ranveer Singh?

Priyanka Chopra, Nick Jonas Wedding: Cost, Who paid for it, Functions Priyanka Chopra and Nick Jonas married on 1st  and 2nd December 2018 in a two-day, lavish, East-meets-West celebration, after a whirlwind four-month engagement. According to reports on the internet, Priyanka and Nick spent an estimated $584,000 on their two-day event. Their combined net worth is estimated to be $53 million.  Details from the wedding, such as the venue (the Umaid Bhawan Palace in Jodhpur, India), her dress (custom Ralph Lauren with a 75-foot train!), her jewellery, her makeup, captivated the internet, as also speculation about their relationship, Priyanka is 36 and Nick is 26 years old

Books for Women

Becoming by Michelle Obama : In her memoir, Becoming, Michelle Obama,the first African American First Lady of United States of America, invites readers into her world, chronicling the experiences that have shaped her, from her childhood to her years as an executive balancing the demands of motherhood and work, to her time spent at the White House.

You’ve got to be twice as good to get half as far.