InvestorQ : What are the financial hurdles faced by the women in India and how can they overcome it?
Siya Saran made post

What are the financial hurdles faced by the women in India and how can they overcome it?

2 years ago
The bond between women and money has never been a happy one or a simpler one due to the cultural, social, patriarchal taboos prevailing in Indian society. However, it is high time that in spite of so many problems faced by them be it gender pay gap, financial illiteracy, family responsibilities, legal bias, marital hurdles, and whatnot, women should try and get monetary empowerment.

Let’s discuss some of the challenges faced by the women in India and how they can tackle those hurdles:

Women earn less, so they will have to save more: It is the most common problem that women faces, two of the major factors due to which it happens:

Career breaks: Women often have to take breaks from their job either for the caretaking of the family, for the maternity period, etc. This means that during this period they do not earn and consequently do not invest.

Gender pay gap: Generally men are paid higher in comparison to the women for a similar job, skill, and experience.
How to overcome these challenges?

The first thing that women can do shall be to invest in her skills, this means that even when she’s on leave she should keep herself updated with latest changes in her field and necessary skills.

Do not break contacts with your colleague, employees, boss, etc. This is because if she joins after a huge time gap, she should have some already established links in the same line of work.

Women have this inbuilt capacity to negotiate better, but when it comes to negotiating for their skills, they often ignore it and just go with what they are generally offered. So, it is very important to decide what do you expect from a job and do not accept it unless it is satisfactory and more in her favor.