This Raksha Bandhan, here is some valuable financial advice you can give to your sister.
You deserve the security money brings.
A woman's best protection is a little money of her own. This advice by American politician, U.S. ambassador, and writer, Clare Boothe Luce, is timeless and applicable across cultures.
Money means different things for different people, but it is almost universally looked upon as security.
Save relentlessly. Save as much as possible when you can, because there may be periods when you cannot afford to save anything. Now, invest that money.
When it comes to finances, you are capable.
Money management is not the exclusive domain of men. Don’t ever make the assumption that a man is just naturally financial savvy, and a woman is not.
Make the time to understand at least the basics of investing, whatever your marital status. Whether you are a home maker or a breadwinner, money decisions made by your spouse affect everyone in the house. Take an interest. Question. Do your research. Offer solutions. Discuss.
To be able to say “yes”, learn to say “no”.
None of us have unlimited cash. You need to figure out what kind of spending you can avoid, and where you would rather put your money to work. This will allow you to make informed decisions when it comes to spending. For instance, you can say no to multiple trips to a coffee shop so that you can splurge every month on something that really appeals to you or gives you joy.
The more aware you are on what makes you happy and fulfilled, the easier it becomes to resist short-term impulses.
Never waste money on impressing others.
I repeat, never waste money on impressing others. It is too high a cost to pay for acceptance and approval. As American financial adviser and television host Suze Orman once said: "You spend more when you feel less." Think about that.
In this race to “create an impression”, we forget what we really want. Don’t base your spending habits on what other people apparently value. You are not chasing their dream. You are not living their life.
Either you live to please yourself, or impress others. You really cannot do both.
Don't ruin your tomorrow trying to impress others today.
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