Women & Wealth: Taking Charge- 1

Financial Independence: The Key to True Empowerment

Financial independence is not just a goal—it’s the foundation of true empowerment. In a candid conversation on The AboutHer Show, Apurva Purohit, a corporate leader turned entrepreneur and a strong advocate for gender diversity, emphasised this crucial aspect of women’s lives. Drawing from her own experiences, she shared why financial independence is the key to enabling women to make their own choices, maintain control over their lives, and break free from societal constraints.

Why Financial Independence Matters

“For young girls, the only true independence is financial independence,” Apurva asserted. She explained that many women begin their careers with the intention of being financially self-sufficient, but along the way, life intervenes—marriage, children, family responsibilities—and financial independence often takes a backseat. However, she emphasised that independence is not just about having a career; it’s about ensuring that a woman has the financial resources to stand on her own feet, make her own decisions, and navigate life without being dependent on a spouse, parent, or anyone else.

One of the biggest indicators of financial independence is the ability to make personal choices without external interference. Apurva shared how financial stability allowed her to make career shifts on her own terms. “When you own your keep, you control your decisions. You are not waiting for someone to approve what you do next,” she said. This autonomy is what enables women to live life on their own terms rather than being dictated by traditional gender roles.

The Realities of Financial Dependence

Many women, especially in middle-class and upper-middle-class households, do not realize the importance of financial independence until it’s too late. Apurva pointed out that while women from economically weaker backgrounds understand the necessity of financial contribution to gain respect in their families, many privileged women fall into the trap of believing that financial dependence is acceptable because they are part of a unit—a family where their husband is the primary earner.

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“I often hear men say, ‘Why does my wife need to work? We are a team; she takes care of the home, and I earn for the family.’ But what happens if circumstances change? What if she needs to make an independent decision for her own well-being?” Apurva questioned.

A secure financial standing ensures that women are not trapped in unhappy marriages, toxic workplaces, or situations where they are forced to compromise their dignity. It provides them with the power to walk away from unfavourable circumstances and choose what is best for them.

The Role of Society in Shaping Financial Independence

Financial literacy and independence for women are not just about earning money—it’s also about how they are raised and the societal expectations placed on them. Apurva strongly believes that parents and educators must encourage young girls to take control of their finances from an early age. “From childhood, boys are told they can achieve anything, while girls are conditioned to adapt, adjust, and minimise themselves,” she noted.

This disparity continues into adulthood, where women often hesitate to negotiate salaries, make investment decisions, or prioritise their careers. Changing this narrative requires a shift in how girls are raised. “We need to tell girls that financial security is not optional—it is essential,” Apurva emphasised.

Practical Steps for Women to Take Charge

1. Start Early: Financial planning should begin as soon as one starts earning. Women should focus on savings, investments, and understanding personal finance.
2. Invest Wisely: Rather than just saving, women should educate themselves on various investment options, including stocks, mutual funds, and real estate.
3. Negotiate and Advocate for Themselves: Women must learn to negotiate salaries and promotions, ensuring they are compensated fairly.
4. Build a Safety Net: Having an emergency fund provides security against unforeseen circumstances.
5. Encourage Open Conversations: Financial independence should be a topic of discussion at home, just as career aspirations and personal goals are.

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Conclusion

As Apurva powerfully stated, “True independence is when you can stand up and say, ‘I am self-sufficient, I make my own choices, and I do not depend on anyone for my financial well-being.’” Financial empowerment is not just about earning; it is about securing a woman’s future, giving her the freedom to dream, aspire, and live life on her own terms.

The journey to financial independence may not always be easy, but it is always worth it. It is time for women to take charge, make informed financial decisions, and build a future where they are in control of their own destinies.