With International Women’s Day only a few days away, the time to ‘Be Bold For Change’ is now; and what better way to take that big leap towards ultimate financial freedom and parity than finally taking charge of your own financial future.
“Since 2017’s theme for International Women’s Day is #BeBoldForChange, the boldest step you can take as a woman is undoubtedly securing your own financial future. So, empower yourself by actively taking control of your financial planning,” advised Christina Wesley, a financial adviser with NDB Wealth.
In fact, the need for smart financial planning is even more relevant today despite women now enjoying a greater degree of hard-won independence. This is because of the lack of corresponding parity in terms of earnings, savings, etc., which means that true financial freedom is still an elusive ideal. However, one way to circumvent the many obstacles faced by women, such as lack of equal pay, or having to spend fewer hours at work because of taking care of children or having to take maternity leave, is to effectively utilise financial planning tools to not just accumulate savings but actually use them to generate a greater degree of sustainable wealth over the short and long term.
“Sri Lankan women also have to confront the troubling reality that, while they typically have longer lifespans than men, with an average life expectancy of 77 years, they are often paid a lower wage than men,” said Wesley.
She also commented that Sri Lankan women often take on the additional duty of caring for aging or ailing parents and even relatives, as well as helping those in need in their immediate communities, which adds a further burden that taxes their career, finances, etc.
“This leads to an erratic career that is also interrupted by maternity leave, etc., which is an added reason for women getting less pay. So, what is needed is a ‘bold’ change where you think out-of-the-box and consider innovative financial planning alternatives rather than traditional bank savings accounts and fixed deposits. For example, ‘Wealth Plans’ by NDB Wealth can help you to truly optimise your savings, especially since you may only have very limited time and resources to do so,” recommended Wesley.
Want to know where to start? Visit the ‘My Wealth Plans’ section of the NDB Wealth website (ndbwealth.com/my-wealth-plans) for more information on pre-designed, ‘build your own’ savings plans geared towards women, children, retirement, etc. You can even find out more about NDB Wealth’s Money Market Account for Women by calling 0719788788.