'When women shed their fear, they can build lasting wealth'

Representational pic; (right) Nita Menezes

With just four months left in 2024, many of us are still striving to meet the financial goals set at the year's start. That's where financial expert Nita Menezes' book, Be Financially Smart: The Modern Woman's Guide to Money, comes in.

As the founder and CEO of edutech platform Financially Smart and investment portal Money Prastha, as well as national president for the Women's Indian Chamber of Commerce & Industry's Financial Literacy Management & Council, Menezes is a trusted expert who has drawn on decades of experience to craft a timely guide for women navigating the often daunting world of finance.

The inspiration for Be Financially Smart came from her interactions with countless women who, despite their achievements, felt disempowered by financial management. "Many lacked confidence due to unfamiliarity with key concepts or were overwhelmed by jargon. I wanted to create a resource that simplifies finance, empowering women to confidently manage their financial futures. The book aligns with my mission to build an ecosystem where women can achieve financial independence and confidently navigate their financial lives. Through Be Financially Smart, I want to shift the narrative - women are not just savers or spenders; they are investors, wealth creators, and financial decision-makers," says the author.

One notices how Menezes' own financial journey - which started with her falling prey to a Ponzi scheme in the 1990s - profoundly influences the advice in her book. "With over thirty years in the industry, I've faced market fluctuations and complex client situations and seen how financial literacy - or the lack of it - impacts lives. The book reflects practical, real-world lessons from both my experiences and those of my clients. Financial well-being is about mindset, habits, and ongoing education. Every woman deserves to feel confident about her financial choices. This book is my way of giving women the knowledge, tools, and encouragement to make that confidence a reality."

Menezes emphasises the importance of the right mindset for achieving financial success through the book: "The right mindset shapes every financial decision and action - when women shift from fear and reliance to confidence and ownership, they unlock their true potential to build lasting wealth."

One key tool that Menezes shares is a seven-month action plan, guiding readers through budgeting, automating savings, building an emergency fund, diversifying investments, and applying the SMARTER framework - a simple guide to lasting financial success. Additionally, the Smart Money Management Model helps streamline finances for long-term growth.

Speaking of the role of women in finance evolving over the next decade, Menezes says, "I anticipate women's roles in finance will expand significantly, with more stepping into leadership and decision-making positions. Women taking charge of their financial futures will drive a broader cultural shift in how economic power is perceived. My book aims to catalyse this evolution by inspiring women from all walks of life to embrace financial literacy, make informed decisions, and pass these skills on to the next generation."

"By addressing financial challenges, recognising red flags, and empowering those around us - whether family members, domestic staff, or community members - we can create a ripple effect of financial empowerment. I hope that women will not only participate but also lead the conversation around money, contributing to a more financially aware and resilient society. I envision a future where women lead the conversation on financial empowerment, driving cultural change and contributing to a more financially aware and resilient society," she concludes.

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