Forwarded by Kiran Bedi-
The Woman Who Manages Everything Except Her Money
In many Indian households, women are the backbone of the family. They manage household expenses, care for children and elders, balance professional responsibilities, and make countless decisions every day. Yet, when it comes to investments, insurance, wealth creation, and long-term financial planning, many women still depend on someone else.
Why does this happen?
Why can a woman manage an entire household but hesitate when asked about her investments? Why are women encouraged to save money but not always encouraged to understand how money grows?
These are some of the important questions raised by I Am My Own Laxmi: Money, Agency and the Power to Choose by Aarti Gupta, a book that connects financial literacy with women's empowerment.
The title itself carries a powerful message. In Indian culture, women are often described as the Lakshmi of the home, symbolizing prosperity and abundance. But the book encourages women to move beyond being associated with prosperity and become active participants in creating, managing, and owning wealth themselves.
1. Financial Independence Is More Than Earning a Salary
One of the central ideas of the book is that earning money and having control over money are two different things.
A woman may have a successful career, earn a good salary, and contribute significantly to her family. However, if she does not understand where her money goes, how it is invested, or how her financial future is being planned, her independence may remain incomplete.
True financial independence means knowing your income, understanding your expenses, building savings, making informed investment decisions, and planning for future needs.
It also means participating in important financial conversations rather than leaving every decision to a father, husband, brother, or financial adviser.
The message is simple: women do not need to become financial experts overnight, but they should feel confident enough to understand their own money.
2. Why Are Women Often Uncomfortable Talking About Money?
Our relationship with money is shaped by family, education, culture, and social expectations.
From an early age, many girls are taught to be responsible, adjust to circumstances, save for the family, and prioritize the needs of others. However, they may receive fewer opportunities to learn about investments, assets, insurance, or wealth creation.
As a result, money can become a subject that feels intimidating or unfamiliar.
Sometimes, women believe that financial decisions are too complicated. At other times, they trust that another family member will take care of everything.
The book encourages readers to question this conditioning.
Financial knowledge is not a quality reserved for men or people working in finance. It is a practical life skill that every adult should develop.
Women can begin by asking questions, reading about personal finance, understanding their bank accounts, and participating in household financial planning.
Confidence grows when knowledge is combined with action.
3. Saving Money Is Important, but Making Money Work Is Equally Important
Many women are excellent savers. They know how to stretch a household budget, compare prices, avoid unnecessary expenses, and make limited resources go further.
But saving is only one part of financial planning.
Inflation gradually reduces the purchasing power of money. Therefore, financial security also requires understanding how savings, investments, and different financial assets can contribute to long-term goals.
Women should learn the basics of emergency funds, insurance, debt management, investment options, and retirement planning.
The purpose is not to chase quick profits or take unnecessary risks. It is to make informed decisions that match personal circumstances, financial goals, and risk tolerance.
When women understand how money works, they can move from simply managing today's expenses to planning for tomorrow's opportunities.
4. Financial Knowledge Gives Women the Power to Choose
The subtitle of the book, Money, Agency and the Power to Choose, captures an important connection between wealth and freedom.
Money is not merely about buying things or accumulating assets. It can influence a person's ability to make decisions about education, career, health, family responsibilities, and retirement.
Financial security can help a woman leave an unhealthy situation, pursue a career change, start a business, support her children, or prepare for unexpected events.
This does not mean that independence requires a woman to do everything alone. Healthy relationships can include shared responsibilities and mutual trust.
The important distinction is that support should be a choice, not a situation created by a lack of knowledge or access to resources.
When women understand their financial position, they can participate more confidently in decisions that affect their lives.
5. Every Woman Should Know Her Financial Picture
Financial independence begins with awareness.
A useful first step is to create a simple overview of your financial life.
Know how much you earn, how much you spend, what you save, what you owe, and what you own. Keep track of bank accounts, investments, insurance policies, loans, and other important financial documents.
Understand the difference between assets and liabilities. Know which financial commitments require regular payments and which goals need long-term planning.
Women who are not currently earning an income can also develop financial literacy. Understanding family finances, knowing how assets are held, learning about legal rights, and participating in financial decisions are valuable steps toward greater security.
The objective is not to control every rupee. It is to understand the bigger picture and know where you stand.
6. Small Financial Habits Can Create Long-Term Security
Financial empowerment does not necessarily begin with a large salary or a substantial investment.
It begins with small, consistent habits.
Start by recording your expenses. Build an emergency fund according to your needs. Learn about the financial products you use. Understand the costs, risks, and conditions before investing. Review your financial goals regularly.
If you have debt, learn how interest works and develop a realistic repayment plan. If you have investments, understand what you own and why you own it.
Most importantly, do not invest in something simply because a friend, relative, or social media influencer recommends it.
Ask questions, verify information, and seek qualified advice when necessary.
The goal is to replace financial hesitation with financial awareness.
7. Women’s Financial Empowerment Benefits Society
Financial literacy is not just an individual concern. It has wider implications for families and society.
When women understand financial planning, they can contribute more effectively to household decisions, prepare for emergencies, plan for retirement, and support future generations.
Financially informed women can also become role models for their daughters, encouraging them to see money management as a normal and essential life skill.
However, the responsibility should not rest entirely on women. Families, schools, employers, financial institutions, and policymakers must also make financial education accessible and encourage women to participate in economic decision-making.
Empowerment becomes more meaningful when women have both the knowledge and the opportunity to act on it.
8. What We Can Learn from I Am My Own Laxmi
The broader message of Aarti Gupta's book can be translated into a few practical lessons:
- Take ownership of your money: Understand your income, savings, investments, and financial commitments.
- Learn without fear: Personal finance is a skill that can be developed gradually.
- Participate in decisions: Do not remain uninformed about matters that affect your financial future.
- Think beyond today: Plan for emergencies, long-term goals, and retirement.
- Build confidence through action: Start with small steps and improve your knowledge over time.
- Recognize your choices: Financial awareness can help you make decisions with greater confidence and independence.
These lessons apply not only to working women but also to homemakers, students, entrepreneurs, and women at different stages of life.
Become the Lakshmi of Your Own Life
I Am My Own Laxmi reminds us that women’s empowerment must include financial empowerment.
We often celebrate women for their ability to manage families, overcome challenges, and sacrifice for others. It is equally important to encourage women to invest in themselves, understand their wealth, and take an active role in shaping their financial futures.
Being your own Laxmi does not mean that you must be wealthy or financially successful by a particular age. It means developing the knowledge, confidence, and independence to participate in decisions about your money.
You do not need to know everything today. You simply need to begin asking questions, learning the basics, and taking responsibility for your financial future.
Because a woman’s true financial strength lies not only in how much she earns, but also in how confidently she understands, manages, and uses her resources.
The real power of money is the freedom it gives you to choose. And every woman deserves that power.
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