An often overlooked part of women’s life is their money management skills. Women are known to run the family by managing everyday finances. They keep tabs on income generated, spent, and saved by their family. But when taking and applying their money management tips in personal savings, credit scores, financial security, etc there seems to be a lag. 

How many women know the saving schemes made available to them by the government? How many are aware of credit score (CIBIL)? How many know the difference between investment and asset? How many know to do their taxes? Or even have a pan card?

With 20.3% of the labor force being women, financial literacy in women is necessary. Money management tips for women are the key to a more secure and independent future. This blog will get you started on your journey to personal financial management. 

Money management basics

Before delving into tips for mastering your finances, there are some basic financial terms that need to be understood.


Keeping a note of daily/weekly/monthly expenses is very important to plan a secure financial future. It will help curb overspending and help save up to 15%. 


Saving 20% of a person’s income is a must, with 10 -15% going towards the retirement fund. Savings will come to the rescue during health issues, sudden layoffs, and other emergencies. Having proper health insurance also helps with saving money since it provides a safety net.


Usually, savings means money. But buying a property, gold, bonds, and more are also savings, called assets. They are tangible and can be seen, worn, lived in, rented out, etc.


Unlike assets, investments are not tangible. Mutual funds, share market holdings, and many more come under this category. One cannot stress the importance of investor confidence in investing.

Credit score

If you are planning to apply for business, housing, and personal loans, equated monthly installments (EMI), and credit cards in the future, having a desirable credit score is very important. CIBIL Score is a three-digit numeric summary of your credit history. Unpaid bills, loans, and EMIs will affect this score and decrease your future loaning ability.

What now?

Now that you know the basics start prioritizing your financial needs and apply ways to improve your financial confidence. Saving and investing is much easier than you think. Multiple varieties of financial apps and websites are available online to help you calculate your savings. Give them a shot and pave the way for your financially successful and secure future!