According to 2015 report by S&P Financial Services LLC, 80% of women in India are financially illiterate. In fact, most women have a very low financial literacy score.
Take our quiz below to check your financial literacy score:
What does your financial literacy score mean?
Low (8-10): You are NOT in control of your own finances. You need start owning your finances NOW.
Average (10-16): Good job! But, you need to buck up and improve your saving habits.
High (16-20): You are a financially empowered woman. Now inspire other women in your life to become equally self-sufficient.
This quiz is inspired by economictimes.
Myths & Facts About Women & Money
How to improve your financial literacy score in 3 simple steps
All you have to do is take charge and be confident about your money management skills. Here are 3 simple steps you can take to improve your financial literacy:
- Start by keeping track of all your expenses; big or small. You can use a diary or an excel sheet to do the same.
- Watch videos or read online blogs to brush up your savings basics.
- Ensure that you save/invest at least 20% of your household income every month. You can do this with a help of flexible products such as Sqrrl. You can save through SIPs or create goal-based saving plans based on your needs
Happy International Women’s Day to everyone. Cheers!