Financial literacy is the ability to understand and use the knowledge required to effectively manage your money and resources.

Although we have come a long way in breaking stereotypes and there has been incredible progress concerning women's empowerment, there is still a gap when it comes to financial literacy. According to the World Economic Forum, India has a rank of 140 out of 156 in the Global Gender Gap Index. Various cultural and socio-economic factors - deep-rooted traditions and beliefs, the wage gap, etc.—have created a general expectation for women to give family matters more important than career or financial management. According to a study, only 33% of women make independent investment decisions, compared to 64% of men.

Financial literacy is the key to creating a society where everyone has the freedom to carve their lives on their own terms by being able to pursue and create opportunities to lead financially secure lives. Being financially aware not only pulls people away from making
poor decisions or falling for scams and landing in situations such as debt, it also facilities a comfortable future for them and their future generations.

Knowing how to budget expenses and allocate resources is extremely beneficial; it can help in saving up enough resources for major planned events (education, occasions, retirement, etc.) and can ease the impact caused by situations that are unplanned or out of our control, such as sudden changes in the economy, health emergencies, etc.


Furthermore, the ability to make informed investment decisions can create additional income streams that can strengthen our financial security rather than relying solely on a single source of income.

Lastly, if we can help ourselves, we can help others. By being financially literate and stable, we are in a position to help those in need as well as spread financial awareness to empower others.

1. Source:


About the Author

Meghana Ganesh is a Community Manager at Her Second Innings. She is a Computer Science Graduate with a passion for women’s empowerment and equality, and diversity hiring in organizations.

Her Second Innings supports women professionals on a sabbatical in their journey of getting back to work. The mission of HSI is to guide women to achieve financial independence. Support from HSI comes in the form of job interviewsreskilling programs in Automation and, free Career Guidance Counselling. Sign up with us and complete your profile to get a call from our counselors to know your job fit.


“The opinions expressed are those of the author. This blog claims no credit for any images or content posted on this site unless otherwise noted. Images and content on this blog belong to their respective owners. If there is an image or content on this blog that belongs to you and you do not wish for it to appear on this site, please e-mail us with a link to said image or content and it will be promptly removed”