Not good with money. Financially illiterate. Poor with numbers. These are common labels women have had to live with for generations. In reality, it’s not their incompetence with finances but cultural conditioning that has quietly shaped how they perceive and participate in this world.
From a young age, women have been kept at the periphery of financial decision-making. Money has historically been a male domain, something they are expected to master and control. Women, on the other hand, manage what is left.
Little wonder that even working women have been conditioned to believe that money must be preserved, not grown. It’s a generational cycle—a thought process that they have imbibed from their mothers and grandmothers.
“It isn’t that they don’t save well. Even if women engage in impulsive spending, they are almost never bankrupt. The problem lies in many of them not taking the lead in conversations around investment, insurance, real estate, or even the future of their children,” highlights Himani Chaudhary, Association of Mutual Funds in India (AMFI)-licensed mutual fund distributor and finance content creator.
Women often find themselves in a complex and layered relationship with wealth. It doesn’t help that financial systems, education, and even language have not been designed with them in mind, says Dipika Jaikishan, Co-founder at The Basis Foundation, a platform empowering Indian women with tools and knowledge for financial independence. “It’s like being invited to a game where the rules were never explained, and yet you are expected to play well,” she adds.
Having been left out of the financial dialogue for decades, it’s inevitable for women to feel alienated. After all, they were asked to manage the household, not the portfolio. “It’s not a lack of intelligence; it’s a lack of inclusion. That’s the complexity. Not the numbers, but the narrative,” insists Priti Rathi Gupta, Founder of LXME, a leading financial app for women.
Silent Struggles
The most common challenge women face is the lack of belief. Even financially independent women doubt their ability to make sound financial decisions. There’s a subtle but persistent message playing on their minds: ‘You’re not supposed to know this,’ or ‘let the men handle it.’
Jargons amplify this gap. Financial content is often robotic, impersonal, and intimidating, with no one wanting to ask a ‘silly’ question for fear of being judged. “Many women assume these are concepts they should know, and if they don’t, their natural reaction is to retreat,” elaborates Hena Mehta, Co-founder of The Basis Foundation. “Frankly, the industry hasn’t done a great job of translating complexity into clarity.”
That’s not all. Most women have never been taught that money is a skill, not a gift. So when they encounter technicalities, they internalise the confusion as a personal failing. “With the many roles women juggle, the time required for making wealth-related decisions almost feels like an additional chore that we had so far chosen to delegate to the men in our lives,” Gupta reflects.
By the time women catch up, the acronyms and assumptions can feel like a secret code, deterring them from taking ownership. However, financial empowerment isn’t about mastering jargons but understanding the story your money is telling you—it’s about taking control of its narrative, says Anooshka Soham Bathwal, Founder and CEO at Dhanvesttor, a wealth and portfolio management company exclusively for women.
“When women are in a space where they are heard and respected, their financial instincts shine through. When they are given the tools and the freedom, their confidence grows,” explains Bathwal. “With that comes a powerful shift in how they perceive financial independence—not as a luxury, but as a right.”
A Gradual Shift
It may be a long road ahead, but women are gradually beginning to break away from the shackles of societal conditioning. They aren’t waiting for permission—instead, they are showing up, signing up for courses, investing, questioning, learning, and leading.
“Women are no longer scared to talk about money; they are owning it. And they are doing it together, in a way that feels powerful, not pressured,” says Gupta. “Are all the barriers gone? No. But the biggest shift is in the mindset. Women now believe: ‘This space is mine too’. And what’s beautiful is how that shift ripples into homes, workplaces, and future generations,” she adds.
More women are also willing to admit what they don’t know, and that honesty is powerful. They are asking their own questions, not echoing what their partners or parents say. They are no longer fine with sitting out their financial lives. “We are witnessing more women saying ‘I want to understand’, ‘I want to invest,’ or ‘I want to grow’,” points out Jaikishan.
Statistics are proof of this evolution in women’s attitudes. According to AMFI, women now hold 33 per cent of the total individual investor assets under management (AUM) as of March 2024. “Within five years, the participation of women in the stock market has more than doubled. If we predict how the future will be—in 2030, women investors could even go up to almost 60 per cent,” says Chaudhary.
One Step At A Time
It’s never too late to make a start, and the first step is to understand your story with money. What were you taught about money while growing up? “These early messages can quietly shape how you spend, save, or invest today. Becoming aware of this is the first powerful step,” suggests Bathwal.
Track your money and evaluate your spending without guilt. It’s not about judging your choices, it’s about knowing where you stand, advises Jaikishan. “Alongside, automate your savings and investments. Remove the friction. The more automated your wealth-building is, the less room there is for hesitation or forgetfulness,” she adds.
Set goals that feel deeply personal. It’s about what you want—security, freedom, time, or legacy. Let your money work in the service of your values. “Treat your financial journey like self-care. Learning about money is not just a task; it is an act of self-respect. Just like you care for your body or mind, caring for your finances is a way to honour your future self,” says Bathwal.
While it may seem like an unpopular opinion, it’s a good idea to invest before you feel ready. “If you wait until you’re ‘confident’, you will never start. Confidence is the result, not the precondition. Begin with what you know and build from there,” recommends Jaikishan.
After all, there’s nothing a woman can’t achieve if she wants to. As Gupta rightly puts it, “When she becomes financially fearless, she doesn’t just rise, she lifts.”
Writer Recommends
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The Psychology of Money by Morgan Housel
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Let’s Talk Money by Monika Halan
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Smart Women Finish Rich by David Bach
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The Intelligent Investor by Benjamin Graham
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One Up On Wall Street by Peter Lynch and John Rothchild
Lead image: Getty Images
This article originally appeared in the Harper's Bazaar India June-July print edition.
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