Why does financial planning make a whole lot sense for women who have just tied the knot?

Chitra Grace Marion
25 Oct 4 minutes

Getting married is one of the most important milestones in a woman’s life. She leaves behind her old life as well as her parent’s home. A new adventure awaits her as she steps into the life and home of another. Though marriage brings about a change in a male’s live as well, the adjustments a female has to make are incomparable. Besides giving up their home, many women also give up their careers and lose financial independence. Haven’t you compromised with your financial independence because you just tied the knot?

If you have, you made a mistake. Yes, it might be right to give up your careers to handle your new-found responsibilities, but, it is not right to give up financial planning. You lose financial freedom if you give up financial planning and become dependent on your spouse. Why? Wouldn’t you want to be financially free?

If you do you have to resort to financial planning. Financial planning is, basically, investing your money in different investment instruments based on your financial goals. When you plan your finances, you become financially independent and reap many rewards. Want to know what rewards? Let me enlighten you –

  • You can create a corpus for your personal use

Imagine a situation where you can spend your money as per your wishes without having to account for your spends! Amazing, isn’t it? You can have this reality if you plan your finances. When you save and invest you create a financial corpus which is at your disposition. You have the freedom to use the corpus as you want and when you want it. So, whether you want to pamper yourself at a spa, hang out with your friends, binge shop or simply invest for retirement, you would be able to use your corpus for your wishes.

  • You can plan for maternity and related expenses

The next milestone after marriage is pregnancy and childbirth. Though the emotional ecstasy is another experience altogether you cannot overlook the financial implications. Maternity brings with it a lot of financial expenses which you have to shoulder. While your spouse is burdened with the financial aspect wouldn’t it be wonderful if you can lend a helping hand?

  • You can save for your children’s higher education

The expenses which pregnancy bring doesn’t end at child birth. It continues till your child becomes financially independent himself/herself. Meanwhile you are tasked with the responsibility of bringing up your child. Moreover, like all parents, you want your child to receive the best education and education is no longer cheap. Lakhs of rupees are required to ensure a decent education for your child and if foreign education is your dream, multiply the amount twice or thrice. If you plan your finances, you can save for your child’s higher education and, that too, from the best institution.

  • A corpus comes in handy in case of death or divorce

Two Ds are very unfortunate for every married woman – death of the spouse and divorce. Though unfortunate, these contingencies are uncertain and unpredictable. You need a strong financial support system in both these eventualities. If your spouse dies prematurely you have to shoulder the financial responsibilities of your home. Similarly, in case of a divorce you are left to fend for yourself. Having a financial cushion helps. You can shoulder the unannounced expenses easily if you have savings of your own. These savings can be accumulated if you practice financial planning.

Marriage is a new experience and an adventure for many of you. However, it should not be the sacrificial altar. Don’t give up your financial independence when you get married. Start financial planning just as you tie the knot for a stable financial future. While women empowerment is the motto of the new-age culture, make sure you don’t forget to empower yourself. Plan your finances, get involved with your spouse’s financial planning process and create a blissful future for yourself, both emotionally and financially.

Join our Fin Insight Community

Share this post with your friends & family!

2 thoughts on “Why does financial planning make a whole lot sense for women who have just tied the knot?

  1. dirgenlemeytim katran taşıymıştım kancasızıyor canı tatlıtan beyin gücüye bibersiye genel afabilirsin fısıldamaabilirsin esefleecekler koridoracaktım

Leave a Reply

Your email address will not be published.

Uncategorized

Subscribe for updates

Drop in your email address below and we’ll update<br>you when new articles are released!

[contact-form-7 id=”12574″ title=”Newsletter”]