Women have this innate sense of ‘saving’. As soon as the husband hands over his monthly salary to her, she starts thinking of ways to save from it. A rupee here, a rupee there, and by the end of the month, she has a little something saved for the rainy day.
I had seen my mom doing it. She was a homemaker, so she was fully dependent on my father for all the household and education expenses. After my graduation, I enrolled myself into French learning classes. It was a hobby for me. I loved the language and realized I was good at it. I decided to pursue French language at a higher level. My father didn’t understand my passion. I was supposed to get married, and not think of higher studies at my age. He refused to pay my fees. That’s when my mom stepped in. She dipped into her personal savings, the savings she had been collecting since years, and paid my fees at Alliance Française.
This was the event that made me realize how important it was for women to work. But, the more valuable lesson I learnt was the importance of saving. So, when I started working, I started saving. I quit my high paying job once I conceived, and it was a big financial blow for me. Of course, my husband assured me, “I am earning enough. Don’t you worry about finances.”
But, I worried nonetheless, for the future and my self esteem. Well, soon after my daughter came, I started working from home. I didn’t earn much (peanuts compared to my earlier job), but I started saving right from day one.
A child is mentally and physically exhausting, but gradually I realized she was financially exhausting too. School tuition fees, medical, clothes and toys…the demands were many. And, then there were extracurricular activities like drawing, swimming, tennis, singing, etc. that I wanted my daughter to enjoy and pursue. I didn’t want her to suffer because of lack of sufficient finances.
That made me invest wisely in different instruments. I bought a little gold for her (I am a mother after all, and a Marwari at that! ). I had parked my savings in fixed deposits with my salary bank account. Later on, one of my ex-colleagues who had also quit job for her baby told me about Kotak Mahindra Bank’s Silk Women savings account. Thankfully, we have a Kotak Mahindra bank branch nearby. So, I didn’t think twice before closing my salary-savings account and opened up a new Silk Women Savings account with Kotak Mahindra Bank.
I earn 6% p.a. interest per year on my savings. Secondly, I use credit and debit cards a lot. I believe in cashless economy, also I hate going to ATMs to withdraw money. And, with Silk debit card, I get cashback upto Rs. 4500 per annum on my spends. That’s not little; remember for a homemaker, every tiny bit counts. I have also opened up a Junior savings account in my daughter’s name, and got a non maintenance fee waiver on it.
So, yes, though it’s my husband who is largely running the show in the house, my contribution is not to be entirely ignored. I have enrolled her in various activities and I can proudly say I pay for each one of them. In my own way, I contribute and I am proud of it. I earn, and so I like to spend, on me and my daughter. I like the fact that I don’t have to ask my husband for every little expense. He is a busy man, he has a lot on his hands, why should I bother him with tiny details. Having said that I also want my daughter to enjoy her life. Today, she goes for swimming, gymnastics, dance and drawing, but tomorrow she might want to pursue skating, ballet, and God only knows what not. However, I am prepared for it, with my small savings that is turning big with every passing day.
I have learnt these few things in my life-
- As a mother, we have various responsibilities – to not only feed our kids on time (to keep their bellies and bodies warm) and to keep them happy, but also to teach them to be independent. But, for that, a mother herself needs to be independent from daily financial worries.
- Every homemaker is plagued by the fact that she doesn’t earn or earn enough. But, you needn’t turn it into a sore point of your life. Every mother I know has her own ingenious ways to save. It is just that I urge you to save smartly and wisely in women oriented schemes. They have been created for a purpose that revolves around YOU !
- Also, don’t ridicule small savings, remember, an ocean is made up of tiny single drops.
So, save and let the power be with you !