Bank Account & Husbands
Bank Account & Husbands
These days, we all talk about how important it is for girls to be independent. As a result, the number of working females is increasing, which means, the number of females who have their own hard earned money is increasing. This should essentially mean that number of women who are independent is increasing, right?
Sadly, the answer is no. In a lot of cases, even while the women are working and getting salaries deposited in their bank accounts, it's their husbands who manage the money. The reasons for this unfortunate situation could vary, but the consequence is that, even after earning money, the wife would need permission at worst and consultation at best, in order to spend or invest the money.
A Consensual Dependence
Sometimes, this situation is consensual, which means the lady herself wants the man of the house to manage the money. Either she thinks that she is not up to the challenge, or she feels that her trustworthy man is far more qualified for planning the expenses and investments. This could be true, but in most cases such an arrangement poses a threat to the woman's welfare and financial security in case of any disputes in future.
It is extremely important to learn to manage one's own money for both men and women, with may be a little good advice every now and then, which should be asked for, not imposed. This not just brings confidence but will keep you well equipped and skilled enough to face any kind of crisis situation.
The Husband's Control
One of the ladies we talked to, stays abroad and told us that her husband keeps a sharp eye on the amount that continues to get deposited in her account every month. As soon as it becomes substantial, he transfers it and invests it in property. This would have been okay, if the property was being purchased in the couple's name. However, it's the younger brother-in-law who stays back home whose name is used for all the registration. This could be really daunting if things don't work out in future for the two brothers, which is not something unheard of.
Lack of Self Confidence
The aforementioned woman had been working for many years before her marriage, and was managing her investments also, like investments in mutual funds, policies etc., but in many cases, the women are dependent for money management before their marriages also, on either their father, or may be elder brother. This could be a major reason why they feel comfortable in transferring this responsibility to the husband.
Just Like A Home Maker
In such situations the condition of the working woman is not much different from that of a home maker who takes money from her husband for house hold chores, makes a little saving from that amount for the welfare of her family, but which she needs to hide from her husband and in-laws else they might frown upon her.
What Parents Should Do?
So what can we do as parents? We should teach our girls to manage their own money from a very tender age. A little girl should be given pocket money, should be taught to keep a balance of that money, and as she grows up, she should be given freedom to share her expenses with her parents only at her own will.
In this way, our daughters will hopefully grow up into gracefully independent women who will not just be well capable of managing their own accounts, but be an active participant in investment discussions with their life partners