WOMEN: The Need of New

Power behind the Personal

Finance

By Suresh Kumar
Research Scholar, KARPAGAM UNIVERSITY, COIMBATORE.
 PERSONAL FINANCE
Personal Finance is application of financial
principles to take effective decisions of individual
or family towards efficient use of available
money. It defines the ways in which individuals
and families should make budget, save and
spend monetary resources in effective and
efficient manner and should take into account
various financial risks and future events.

Women: The need of new power behind the Personal Finance

Personal Finance start from ???
• How much money is needed by a person (or a family), and
when?
• Where from this money come, and how?
• How to protect against unforeseen personal events, as well as in
the external economy?
• How does the tax policy affect personal financial decisions?
• How does affect the individual financial capacity?
• How to use annuities to provide for our retirement plan?
• How to choose the best possible way of investing?

Women: The need of new power behind the Personal Finance

 Key components …
A key component of personal finance is;
• Assessment
• Setting goals
• Plan
• Execution
• Monitoring and reassessment

Women: The need of new power behind the Personal Finance

Investment and its dimensions
Investment means sacrifice of some money at present
with expectations to gain in future. Financial investments
are like exchange of financial claims, like purchasing
house, investing money in bank or post office,
purchasing insurance policy, buying shares, etc. While
investing money an every individual has certain
objectives in mind. These objectives become the guiding
force for investment decision

Women: The need of new power behind the Personal Finance

Investment has the following features;
• It is carefully thought of
• It is well planned
• It is based on the study of fundamental factors about
investment avenues
• It is generally for long-time horizon
Investment has the following dimensions;
• Element of sacrifice
• Element of futurity
• Element of risk
• Expectation of gains

Women: The need of new power behind the Personal Finance

 “W”-trends

Women and her role in various activities both inside and outside the

family system has undergone drastic transformation in the digital

era. Women shouldering many responsibilities in various kinds of

decision making and standing at par with men at every tread. For

all, education has contributed to a great extent in opening up wide

spheres of knowledge both for men and women.

Women: The need of new power behind the Personal Finance

 FEMALE LITERACY RATE

Female literacy rate during period 1991-2001

increased by 14.87% whereas male literacy rate

rose by 11.52%. So the female literacy rate

increased by 3.15% more compared to male

literacy rate.

Women: The need of new power behind the Personal Finance

 FEMALE SEX RATIO

Sex Ratio is an important social indicator to

measure the extent of prevailing equality
between males and females. According to the
census of India, 2001, the sex ratio stands at
933 against 927 in 1991 census.

Women: The need of new power behind the Personal Finance

 WOMEN EMPOWERMENT
Empowerment is the process which enables one to attain
power, authority, control and influence over others
including society. This means control over material
assets, intellectual resources and ideology. In short
women empowerment is the process that allows one to
gain knowledge, skill-sets and attitude needed to
manage with the changing world and circumstances in
which one lives.

Women: The need of new power behind the Personal Finance

 WOMEN EMPOWERMENT
Empowerment is the totality of the following;

• Having decision making power of one’s own

• Having access to information and resources for taking
proper decision.
• Having positive thinking and ability to make change
• Ability to learn skills for improving one’s personal and
group power.

Women: The need of new power behind the Personal Finance

Personal Finance and Women’s Empowerment
WOMEN’S ECONOMIC EMPOWERMENT

FINANCIAL PRODUCTS & SERVICES

Household income increasing under Women’s

Control

Children’s Women’s
Household
well-being well-being
Well-being
Education Nutrition
Healthcare
Insurance
Pension plan
Happiness
Economic growth

Men’s
well-being
Men’s role to empower women
Our duty is to impart the financial literacy among
women. If women learn about money they can
share the financial work of men. So we should
respect our ladies in this field. There are many
great women personalities in our country in
personal finance space. We strive to bring our
women to that place and we live happy life.
 A tribute to Women
She has the power,

As daughter, wife, mother, and friend,

She makes many lives worthwhile,

She is the pillar of strength in every family,

She is nothing less than a one man army!

Women: The need of new power behind the Personal Finance

Thanks for all