5 Reasons why women should concentrate on money

Stereotypes are not an uncommon phenomenon in our Indian society. One of the most common ones we hear is how women do not know how to manage their money. I realised the seriousness of this stereotype after speaking to a few of my clients who said that majority of the spending of the family was done by the women. They would say how their wives and kids would buy unnecessary items instead of focusing on the importance of planning finances.

A few weeks ago, a client of mine came in with his daughter with a conundrum. When I asked what was bothering him, he said he was in a dire need for his daughter to understand and focus on money rather than just blindly spending. He jokingly said with the lifestyle she leads, he would soon be bankrupt. I realised that he was not alone in such a situation. There are many indulgent fathers and husbands who realise too late about involving women in financial decisions.