A smile, a clap, a beautiful thought or a friendly gesture…..these are some of the best things in life that are free. For everything there is a price tag attached. A dream of achieving goal, an ambition of becoming someone, a tourist destination that is worth every penny, an asset that people would envy, a luxury that only few can afford. Money does matter!!!! But it always does not have to seem like a burden. The number of hours one can work and earn is limited but the number of ways in which money can be planned and spent is unlimited. Money comes and goes. However, Finance is what keeps track of money being earned and spent.
Saving v/s Spending: Investment is a kind of money saving technique. When a substantial amount of money is locked for a particular cause for few years, the assurance of that chunk not being spent is there. And it can further be used in future if required. Often investment in property, real estate, land, funds are good ways of stocking up money. When it comes to spending, there are no clear rules. Because what may seem a costly luxury to one, would be a simple item for the other. But it would be good to follow a simple motto “Every penny saved is every penny earned”. So, spending wisely and as much as needed is a simple way of saving too.
Financial independence v/s Financially independent: Financial independence is about having a say in the finance matters of the family even if one is not financially independent. Many women who do the daunting task of being homemakers often neglect the financial matters of the family. To engage in the planning, distribution and execution of how and where money is going to be used is a big step in having financial independence. In this way, the finance of a household can be tracked. And also, collective decisions on buying a certain item of a choice can be made. This does not take away from the fact that being financially independent too is a matter of security for a woman. Many a times, a woman may need to invest or spend some moolah on something that the family may not approve of, but she may think that it would be wise to do so. In such cases own judgment and money to support that decision complement each other.
Knowledge v/s Awareness: Whether a woman is working or not, whether she earns or not, the knowledge of how finance is planned is essential for her to know. So, participation in the planning stages, taking care of budgets of the house, knowing how much to spend on necessary items and activities, what not to spend on is important. An investment in what sector will bring returns, saving up for child’s education or retirement or both or none. It’s all a matter of choice. However more than knowledge the awareness of how finance is planned is crucial. Sometimes, in a bid to save for future, we tend to ignore the present. Do we ever realize that it’s the present that we are sure of what we can spend on. The future is unknown. So, sometimes when money is spent on small or big things that matters to self and family at the present moment, then these moments become priceless and moments to treasure. It’s fine to go easy on an expensive gift, or a holiday or an item. The returns are smiles, happiness, gratitude and love.
About the author:
Padmaja Acharya – From the ancient language of Sanskrit comes my name ‘Padmaja’, derived from Padma (meaning lotus) and Ja (meaning to take birth from). A woman as created by the divine. An Engineer and MBA by virtue of education. A dance choreographer, teacher by virtue of passion. A soft skill trainer and educator by profession. An author and speaker as guided by my calling. This is what encompasses me.
(The author is a guest blogger at Her Second Innings. The opinions expressed are those of the author.)
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