What does financial literacy mean to you? Are you independent ?

A daughter lost her father, her grief turned into agony seeing her mother struggling with her late husband’s finances.

Her mother had no idea about how he was managing his money. What and where he invested and how will she access that. In a way she didn’t know how much money he had left for her.

And then it daunted on her that she was not much different than her mom. It made her realized that even though she was a working woman here in USA, she just “earned”, it was her husband who was “managing” the money.

Covid sure made her question the arrangement she had in the house and when she shared her limitation and concerns with her friends, they were in the same boat. Division of work they called, a wife will take care of in-house responsibilities and husband will worry what to do with the money.

She felt her mother was actually a “norm” a perfect representation of typical Indian woman profile when it comes to finances.

She and her friends decided to do something about it, Not only educating themselves but doing with a group of women . 

They talked, planned and started a non profit “Purple Wings” to initiate the real financial literacy for women around them. I was invited to their first meeting. I know I also belong to those “independent women” tribe but actually I don’t know how independent I am. I do know things about our family finances and aware of where we are but usually I don’t enjoy money matters so I am involved on need basis. Sure can pick up if needed but that meeting sure made me think of my responsibility as an equal partner.

What is your take on it? Do you believe in financial equality and what is that equality means to you?

What bothers you most ? What are the two things you would like to learn about?  

Saree is a bengal taant 

These ladies had some very intriguing questions and ideas. I so looking forward to our next session.

I talked about importance of will and health care proxy. They could relate to my conversation because I talked about my sarees, shoes and jewelry. how important it is for me that they go to right people after me :) I sure gave them an assignment - inventory of things they care about. 

That was my morning, an independent woman went to see sunrise on her own because Mr. Husband could care less. Now I need to be independent on other aspects too.