Be the Boss Of Your Own Money

Do you ever feel like you're just getting by, and never really feeling in control of your finances?  Either living cautiously from one month’s salary to the next, or saving whatever money remains after household spends? It's a common struggle, but the good news is that taking control of your money and access to credit is possible, and it can be life-changing. Here's why it's so important:

You're in the driver's seat: When you have control over your finances, you're the one making the decisions. You decide where your money goes and how you want to prioritise your spending. It means you have a better understanding of your present financial situation and can plan for your future security. The result? Peace of mind and reduced financial stress.

Better interest rates and access to credit: When you monitor your own credit profile (for example on the CIBIL dashboard) and are aware about how your credit worth is impacted by your actions, it can pay a big role in the interest rates you're offered on loans, credit cards, or mortgages. Having a strong CIBIL Score and maintaining responsible credit behaviour increases your chances to negotiate for, and secure lower interest rates and gain easier access to credit when you need it.

Protect your financial identity: Regularly monitoring your credit profile and tracking changes to it (e.g. via our CIBIL Alerts feature) can help you identify and prevent fraud and identity theft, cushioning you from any major negative impact on your finances.

A sense of security: Managing your own finances definitely helps ensure financial security in the future. As a woman, don’t leave financial management entirely in the hands of the men of your household. Also, you may have investment ideas that differ from theirs – take proactive charge of at least a portion of your finances, so that if a time comes when you do not have the support of a partner, parent or sibling, you are not completely unsure of how to begin planning for your future, including saving for retirement, education, and emergencies.

Managing your own money is one of the most important steps toward an independent and empowered adulthood, and overall peace of mind. It provides you with a foundation on which to base your financial security and future, so why wait? Start managing your money today.