00:00Today, we are celebrating International Women's Day.
00:03It's not just a celebration, it's a reflection and empowerment.
00:09Today, we are going to talk about women's financial independence, career growth and smart money decision.
00:17And all this is how it impacts a person's mental health.
00:22Because today's time, financial freedom is a real empowerment.
00:26Today, we are a developmental or counseling psychologist.
00:33And she is the founder of Being Brave Mental Health Services.
00:37Hello, Soamini. How are you?
00:39Hi, Shruti. I'm really good. How are you?
00:42I'm doing well.
00:44My first question to you is that, how does financial independence impact women's mental health?
00:52This is my first question.
00:55I think this is a very good question.
00:57Because when we talk about mental health, I think that more people don't think about financial independence or stability.
01:06And I think financial stability or independence or thinking about it directly impacts our mental health.
01:16So, for example, we have to also understand that financial independence doesn't mean that we are gaining money or income.
01:23It is related to security, safety, decision-making, choice-making.
01:30You know, as a woman, I can think about my future.
01:33I can think about my future.
01:35I can think about my future.
01:36I can take my future decisions.
01:38And I don't want to be dependent on anyone.
01:40This needs to be so much of my understanding.
01:43And when this understanding comes, you know, there comes a freedom with that.
01:48And that freedom, I think, is very important for feeling stress-free, for feeling happy, content, or happy in your
01:57life.
01:58Very nicely put, Samini.
02:01Second question is that, money-related stress, especially for women, it starts very early.
02:08So, what is your view on that?
02:12I mean, I agree that it starts very early in the stage.
02:17Because in Indian society, especially, there is a narrative that women don't get involved in money matters.
02:24So, when we are studying school, college, we are still living in our home.
02:32Our parents are like, we have your education.
02:34In India, mostly education is also taken care of by the parents.
02:38Suddenly, when we go out and start a job, or when we get married, and suddenly, we are like,
02:45we don't know anything about the money, we don't know anything about it, we don't know anything about it,
02:48but we have to go to the house, we have to think about the education, we have to invest in
02:53it,
02:54but we don't know how to do it, so that we don't know anything about it.
03:12We don't know anything about it.
03:20So, this is the same, I think, as we come to early adulthood, it starts.
03:27And it shows us small steps, but eventually, it becomes a big deal.
03:33Or how do we come out of that, how do we come out of that, you know,
03:37I don't know what will happen, I don't know if I should invest now or not.
03:41My next question is on that, even us, you know, I'm an urban woman, but yes, I deal with good
03:49returns,
03:49I know about stock market, but say for my mother, my mom is a, you know, small town person,
03:55they don't have no idea, they just know if they are FD, they will take care of their daughter or
04:00their daughter will take care of their daughter.
04:02But in terms of investing, why do women are so hesitant?
04:09Like I said, that there is a narrative that has been made in our Indian society,
04:13that men are the decision makers about our future, about finances,
04:18I think, I think, for anyone to fight with fear, the first step is curiosity.
04:23Meaning, ask questions.
04:25And,
04:27to identify people in their lives,
04:29which you can ask questions.
04:31So, if you're not in your family,
04:34maybe in your social circles,
04:37like you have friends,
04:39other women,
04:40you know,
04:41like in the old days,
04:43there was a kiddie system,
04:44that all housewives used to get together,
04:46who, you know,
04:48they would collect money,
04:49and maybe for the household.
04:51But in all these things,
04:52we always talk about,
04:54that we need to collect money,
04:56or that we need to have money.
04:58But when money comes,
05:00what do we need to do with it?
05:01There is a little curiosity to show us.
05:04And like I said,
05:05first of all,
05:06look at those people,
05:07which you can talk about.
05:09Today,
05:10you're in the time of technology.
05:11So,
05:12you know,
05:13for our mothers,
05:14for older people,
05:15maybe even younger,
05:16there are some videos,
05:17so good,
05:18informational things online.
05:20Like,
05:21I have given my little sister
05:22a time of money
05:24in a Zoom meeting,
05:26in the time of COVID-19 class,
05:27where a teacher,
05:29who taught a teacher
05:31a concept of money.
05:33So,
05:33we have to start spreading the word.
05:37We have to be a little curious,
05:39and a little brave,
05:41that we are going to be
05:44sure,
05:46sure.
05:46This is the thing,
05:47the thing about investments,
05:48and, you know,
05:49being curious will help you.
05:51Talking to others will help you.
05:53Now,
05:54the thing is,
05:54you know,
05:55because we are discussing
05:56on International Women's Day,
05:58when we spend,
06:02it's okay.
06:02but as and when you grow up,
06:05and especially once,
06:06you know,
06:07probably you are married,
06:08and you have a kid,
06:09women,
06:10I think we stop
06:12spending on ourselves,
06:13and we feel guilty about it.
06:17I should not,
06:18I don't want to ask you that,
06:20you know,
06:20we should,
06:20maybe we should stop
06:21feeling guilty about it.
06:23I want to ask you,
06:24what is your view on this?
06:27You know,
06:29Shruti,
06:29I always have to say,
06:31that when we have
06:33a belief system,
06:34we have to see,
06:35where is the belief system?
06:37And again,
06:39as I said,
06:40there is a narrative
06:40in our society
06:42for generations,
06:43maybe centuries,
06:44that men
06:45are money holders,
06:48or
06:48money makers.
06:49Let's say,
06:51yeah,
06:51there is a narrative
06:53that women
06:54made a narrative
06:55in our society,
06:57that we have to
06:58remember the other.
06:59First,
06:59think about the other,
07:01then,
07:01about the other.
07:03So,
07:03when we grow up
07:04with this mentality,
07:06then money comes to that,
07:07that I can't
07:09how I can do it on myself.
07:10First,
07:10I have to have my family,
07:12maybe even friends,
07:14or if there is a need,
07:16so we will help them.
07:17My desires,
07:19as a woman,
07:20to keep my desires aside,
07:22is a social programming,
07:23cultural condition.
07:24It's all in our society.
07:26So,
07:26I agree.
07:27I am also a very educated,
07:29urban woman.
07:30But when I go to shopping,
07:32I do it,
07:33then I also think,
07:35why do I have such a burden?
07:36Because it's our upbringing,
07:38take care of others.
07:40So,
07:40I think,
07:41first step is,
07:43accepting that,
07:43to think about the other,
07:45or to see,
07:46or to think about the betterment,
07:47is fine.
07:49But,
07:49we are included.
07:50Because if I am happy,
07:52I am happy,
07:53I am content,
07:54then I will also be happy,
07:56happy and happy.
07:58Right.
07:59And,
07:59this has been said for urban women,
08:02who live in cities.
08:04What is your suggestion,
08:05probably,
08:06for people,
08:07who are from rural India,
08:08who have no facilities,
08:10who will go to the shop,
08:13or buy stuff for their family?
08:15If you have to buy the clothes,
08:17then first go to the children's house,
08:19then the husband's house,
08:20then the husband's house,
08:22then the husband's house,
08:22then the husband's house.
08:23what is your message?
08:26In my experience,
08:28to be honest,
08:29I sometimes feel like,
08:31rural women are a lot more independent,
08:34and stronger than urban women.
08:38If we are in our homes,
08:39we are in rural cities,
08:41villages,
08:42and towns,
08:43all the ladies who are working,
08:44who are leaving their children,
08:45and families,
08:46all the families,
08:47and earn money.
08:49Yes,
08:50they don't have such knowledge,
08:51that we should invest,
08:53or do something,
08:55because they are in survival mode.
08:57But,
08:58when you are in survival mode,
09:00you get very practical.
09:03You don't have to have emotions.
09:04You don't have to have time.
09:05So,
09:07I feel like,
09:07they make a house,
09:09they make a child,
09:11because they feel like,
09:12no,
09:13they will go out,
09:13and they will take a break.
09:15So,
09:15I feel,
09:16rural people,
09:17rural women especially,
09:19are much more stronger.
09:20We should learn from them.
09:22Oh my God.
09:22If they can do this,
09:24then why not do this?
09:25If they can leave everyone,
09:26go to work,
09:29and keep their family,
09:31then why not?
09:33And that itself creates,
09:35a freedom for them.
09:36And when that freedom,
09:37they come to,
09:38they don't have materialistic,
09:40but they don't have freedom,
09:42but they get the joy in life,
09:46that joy,
09:47I don't think anyone can replace it.
09:50Nice.
09:51Nice.
09:51Very well said,
09:52Zawmini.
09:53Before I let you go,
09:54one more last question.
09:55We have a lot of Gen Z viewers,
09:58for Good Returns,
09:59and
10:02how can women,
10:03younger women,
10:04build,
10:04you know,
10:05emotional and financial resilience?
10:09Very good question.
10:11I think,
10:12again,
10:12like I said,
10:13be curious,
10:14when they talk about big things,
10:17or about investments,
10:18sometimes,
10:19just sit down with your family members,
10:23and ask them,
10:24mutual funds,
10:25what do they do?
10:25What do they do?
10:26What do we need to invest?
10:30If I just want to work for 20 years,
10:33and then retire,
10:34then,
10:35how do we need to have savings?
10:37Ask the basic questions.
10:39First,
10:39a foundation.
10:40Like,
10:40when we study,
10:41we create a foundation,
10:42then,
10:43we decide,
10:44which subject in 11-12,
10:46and then,
10:46what will we study?
10:48First,
10:49foundation.
10:49It's okay.
10:50I think,
10:51in fact,
10:52older people,
10:53when young people,
10:54they ask questions,
10:55they feel good.
10:57They also give knowledge,
10:58and they feel good.
11:00So,
11:00be curious,
11:02information gather,
11:04once you have the information,
11:06then,
11:06maybe,
11:07yes,
11:09financially literate people,
11:10you can think of decision making.
11:12But,
11:12the first step,
11:13always,
11:14curiosity,
11:15information gathering,
11:16and see what it creates in you.
11:19If it creates in you,
11:20for some reason,
11:22some distress,
11:23it creates in you,
11:24then,
11:24maybe,
11:24there are some other reasons.
11:25Maybe,
11:26your family's financial instability,
11:28you are triggering,
11:30or your future plans,
11:32that you are going to study,
11:34and you are going to study,
11:35I mean,
11:37scholarship is difficult,
11:38so,
11:38that's why,
11:39some triggers are going to be,
11:41so,
11:41if we are,
11:42when we are,
11:43curiosity,
11:43and knowledge gathering,
11:45emotionally,
11:46upset,
11:47there's some other factor
11:49and then address that factor
11:50is very important.
11:52Right. Thank you so much
11:54for joining us today.
11:56It's International Women's Day
11:57and we all want to celebrate
11:59but it's also important to understand
12:01where empowerment will be.
12:03Thank you so much.
12:04Thank you for having me.
12:06Thank you so much.
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