Financial independence is a pressing need for young, modern women, and having a financial safety net can be a significant boost to confidence and power. Bollywood stars have increasingly begun sharing stories of managing their money, encouraging and empowering their fans to follow suit.
During an interview with Film Companion a year ago, Kiara Advani revealed one of her significant financial milestones before settling down with her now husband, Sidharth Malhotra. “In my head, I was like, before I get married, I want my own home. Because I feel like today, whether I’m living in that home or not, my parents are. And I have done it for them.”
According to her, this was just a stepping stone, as she would make many more such decisions in life.
“To be able to buy your first home is a huge achievement. It’s a huge feeling that I was able to do this, especially in Mumbai, where the prices are skyrocketing. So, for me, that was my first feeling of accomplishment, of being financially independent, of not having anyone’s help in doing this,” recalled the Shershaah actor.
Why is financial independence important?
Mukesh Pandey, director of Rupyaa Paisa, told indianexpress.com, that in this day and age, it is no longer a matter of choice — the essential foundation of understanding finances is a must now, for men and women alike.
Psychotherapist, healer, and relationship life coach, Delnna Rrajesh, agreed, stating that “You cannot be truly free if you are financially or emotionally dependent on someone else.” According to her, money is more than numbers in a bank account. “It’s the ability to say, ‘I will not tolerate this.’ It’s the power to move, to choose, to rebuild. And emotional independence? That is the unshakable core that refuses to be manipulated, gaslit, or broken,” shared the expert.
Kiara bought her first home before getting married (Source: Instagram/@kiaraaliaadvani)
Building your financial power can also help you strengthen your emotional core. Reclaiming both can help you not depend on anyone else, thereby overcoming the fear of feeling captive, she added.
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Instead of just letting someone else manage your money, Pandey believes it is crucial to create awareness about your finances; ultimately, awareness is the most valuable asset you can possess. “Consider that simply making a habit of 15 minutes a week to inform yourself about a financial concept will change the game of financial understanding and ultimately planning,” he said, adding that “financial awareness is not about knowing all – it is about knowing enough and protecting your future.”
Strategies to gain financial independence
Sonal Khangarot, licensed rehabilitation counsellor and psychotherapist, The Answer Room, shared some key tips to help you get started on this journey:
Start Early: Begin saving and investing as early as possible. Government schemes, such as the Sukanya Samriddhi Yojana, support the financial growth of young girls.
Build Skills: Regular upskilling in competitive fields ensures women remain employed and self-reliant.
Own Assets: Owning property provides long-term stability and a sense of security.
Invest Wisely: Diversify income through mutual funds, stocks, and fixed deposits to create a reliable portfolio.
Seek Support: Women-focused cooperatives and professional networks offer mentorship and financial literacy resources.
