All women love to feel great. Many of us love to dress in style, wear makeup, do our hair, and step out looking fabulous. Not only women but also men admire these traits. The amount of research and awareness that goes into fashion or in acquiring that chic look is commendable. For many of us, it does not matter how much money we invest for one grand occasion or for following the latest trend.
Fashion has been my passion and profession since the last 24 years. Starting as a student to being a well-known entrepreneur, and now as a Take Charge expert and author, my pursuit to financial freedom has been the backbone of my strength. It has helped me at every single step to make my family secure and has given me the opportunities to do what I love.
With different sources of income for today’s woman, life is beautiful. Earning and having enough to spend on your needs and wants certainly gives you happiness, but it also gives you a sense of control and confidence and a powerful belief in yourself.
Our young generation is experimenting with earning money from their early teenage years. They use this money for their education or for their extra needs or even for some adventure that they wish to pursue.
As women, we strive hard to establish our identities while we earn and decide to spend the money we have or are going to have. We make choices that shape our future. When I work with women and young children, they are sure about what they want to do in life. They know what luxuries they are dreaming of, or whether they have a travel plan to explore the world, or if they want to make their families secure. But, even with such strong earning motives, almost 80% of them are ignorant or elusive on their investing and saving plans.
Today’s pleasures are being earned from tomorrow’s money in the form of loans and credit cards, and these earnings are from getting people to invest in your ideas and talents. We see so many young entrepreneurs soaring higher and higher today. Some make a fortune, and many of them also lose the fortune that they have earned. The problem lies in spending more than earning.
I started my business with a few thousand rupees that I had saved from my salary. Designing and supplying to couture brands was my forte. The passion for creativity inspired me to go international with my collections and before I could realize, I was the head of a well-known export house for designer Arabic clothing.
Being born in a middleclass family, I was taught to save money from an early age. Risk-taking was not my trait and loans did not excite me. Therefore, I grew at a steady pace and earned a fortune. I was an entrepreneur with a good amount of savings. Then came tough times when business was not so good. Market policies changed and it hit my business hard. We lost almost all that we had and incurred debt.
In tough times, what kept me going and standing tall in the face of adversity was my financial freedom, the money that I had saved.
I strongly advocate financial freedom for the young women of today. A secure future gives you the opportunity to choose. Almost all women I meet are stuck in a situation where they are feeling helpless. Mostly, this is because they do not have the means to stand up or support themselves financially, or because they are in a relationship that they are forced to be in, or leading a lifestyle that they are forced to lead. The helpless feeling is similar to being on a hospital bed and not able to pay for better treatment due to lack of resources. Going through such trauma due to excessive debt, when a loved one dies a premature death, they are left with nothing to support themselves.
Either they are not aware of what they have for themselves, or have given away all their wealth and earnings to others to manage and decide for them.
Getting educated on how they can grow their money is a dire need for every woman. When I teach moneymaking systems to women who have decided to empower themselves, many of them are shocked to know how a few simple steps done on a monthly basis from a young age could give them financial freedom in a few years.
Every teen and woman should be taught the value of becoming financially free. A simple system can change your life from good to great.
Along with freedom comes responsibility too.
When you become responsible for your future, you will have the power to choose your path.
Taking charge of your money and planting it to grow will empower you to go in the direction of your dreams.
Here are some tips that you must definitely follow:
- Be aware of what you need and what you want.
- Know how much to save and review your expenses.
- Plan for your future with a concrete plan of action.
- Spend less than your income.
- When in business, know when to book profit or loss.
These simple but effective tools will help you start your financial planning. Begin today for an empowered tomorrow. Start with a plan today.
Article by : Gemini Dhar
(Take Charge expert and author)