Mother's Day 2024: Ten financial tips for empowering mothers on this day, May 12

livemint.com:

Happy Mother's Day! Livemint spoke to some industry experts regarding prioritising financial freedom for mothers. The combined advice emphasises the importance of mindful self-investment, budget optimization, and long-term financial planning for mothers. It encourages them to manage their finances wisely, allocate resources efficiently, and plan for the future by saving for emergencies and retirement.

Additionally, it highlights the significance of insurance and protection, including health and term insurance, to safeguard their family's well-being. The advice also suggests starting small, utilizing benefits, setting clear goals, and diversifying investments to achieve long-term financial stability. Mothers are urged to maintain good credit scores, build emergency funds, and explore entrepreneurship opportunities, leveraging their skills and interests for additional income streams.

Jyoti Bhandari, Founder and CEO of Lovak Capital, emphasises mindful self-investment for mothers to achieve personal growth and financial stability. She encourages them to optimize their budgets, plan for long-term financial security, build emergency funds, and give their children financial wisdom. 1)Mindful Self-Investment: Encourage mothers to cultivate their passions and potentials, composing a harmonious blend of personal growth and financial prosperity.

2) Optimise your budget like a boss: Empower moms to orchestrate the family's financial symphony, conducting budgets with finesse and allocating resources precisely. 3) Navigating for Tomorrow: Urge mothers to envision and plan for long-term financial security, embracing investment and retirement planning early on. Today, planning for the future is just a click away.