As this year’s theme for International Women’s Day was ‘Be Bold For Change’, the boldest step you can take as a woman is undoubtedly securing your own financial future.
Empower yourself by taking control of your financial planning, said a financial adviser at NDB Wealth, Christina Wesley.
She said 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.
“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,” she said.
“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,” she said.
One way to circumvent the many obstacles faced by women is to effectively utilize financial planning tools to not merely accumulate savings but to actually use them to generate a greater degree of sustainable wealth over the short and long term.