The world is progressing fast. No matter what your gender, creed, or status is, you need to upgrade yourself from time to time to be the part of the worldly race.
Gone are the days where women are limited to cooking, cleaning, and doing other house chores. Now women are becoming more aware of their rights, including social stability, financial stability, etc. If you have a daughter, a sister, or any other women at home and you dreamt of their secure future, today we will share nine ways to empower young women and give them financial confidence.
Always remember, the first step starts from home.
1. Compound interest
Start saving a small amount of money, because this capital would sum into a larger quantity over the years. Patience and plenty of time would make this magic happen.
2. Put herself first
Teach girls that she must be her priority. Whether she earns cash by work or finds some extra bucks in the coat pocket, tell her to pay for herself first. That would boost her confidence and self-reliance.
3. Emergency funds
Life and its events are very unpredictable. You must have a backup to save yourself from unusual situations. Tell her about any past event where you were protected by cash cushion. Advise her always to have backup money. You can test and analyze her as well i.e. if she has a sudden friend’s birthday party and doesn’t have enough money. Make her responsibility to withdraw herself when money lacks.
4. Entrepreneurial spirit
Encourage her if she has a business mindset. The business doesn’t need to be immensely lucrative.
Maybe she is earning some cash by selling her babysitting skills or by her arts or painting store. Then encourage and support her because she is a future boss lady.
5. Ask for a raise
We all know there is a vast difference between male and female paying rates. Women still need to fight for that. According to an estimate, women need almost 40 more years to close this gap. A study showed that only fewer women ask for raise. Tell your girl, her potential, and what she is capable of. Help her, practicing for requesting a raise.
6. Credit scores
It’s sought of report cards for adults, showing how well they can manage their money. Brief her. And instruct her; if she understands it, the world of borrowing money at the best interest rates will be at her fingertips
Tell her; think and act like an investor. Guide her how she can start investing at a young age. And can make a difference by this spare cash. Investment has long-term advantages and leads to self-reliance and security.
Kids are always anxious about the elders’ decisions. We learn from others’ experiences and mistakes. Discuss the topic ‘money’ with your children. Involve your kids in paying various house bills. In this way, they might learn management skills and simple mathematical techniques to solve little domestic financial problems.
9. Support her
To advance in this modern world, women need to uplift each other. Assist her in acting like a mentor, an advocate, and a supporter that never step back from helping others. Tell her; Push forward other women to build confidence in them. The exchange of ideas and advice leads to have more insight and power. And give rise to female leaders.
She is less than no one. Cultivate confidence in her, so that she may bloom like a flower that spreads fragrance.