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Useful Tips for Housewives to Increase Their Financial Security

Nowadays, women are participating in household finances more than ever. Whether they earn through a job or self-employment or are stay-at-home housewives, they have started controlling household finances.

As a housewife or a stay-at-home mom, you can work wonders with your household expenses with a bit of resourcefulness.


How Housewives Can Plan Their Finances

If you are determined to keep the financial future of you and your family secure, you can follow these tips:

Make a List of Investments

First, list out all your investments. Your list should include insurance, the best FD plan, mutual funds, pension plans, and any other investments that you own jointly or alone. 

Keep a Record of Login Details

As most investments and accounts are accessible online today, it is good to record the user names and passwords. In addition, maintain updated files and hard copies of investments like insurance policy documents.

These files should include health insurance plans so that you can be ready in case of a medical emergency.

Get Financially Educated

There are two ways you can learn about finances. First, you can browse the internet and learn, or you can attend courses on financial management. You can also consult a financial advisor who will advise you on things like the best fixed deposit interest rate and so on.

Make a List of Expenses

List out your monthly expenditure, fixed and variable, which will show you where your money is going. How much money do you receive every month? Then, find how much spare cash you have available after everything is paid.

Maintain a Saving Habit

It is always possible to save at least a bit of money at the end of the month. Now, here’s the kicker. Don’t wait until the end of the month to save. As soon as you get your monthly income in hand, divert a percentage of it into savings!

Savings Plans in India

There are many different savings vehicles you can use to invest your extra money, such as:

Mutual Funds Through SIP

It is a good option for long-term investments. You can invest small amounts in a systematic investment plan (SIP) at as low as ₹100 per month. You can get better returns than the best fixed deposit interest rate from a SIP.

Post Office Monthly Income Scheme (POMIS)

The Indian Postal Department provides the Post Office Monthly Income Scheme (POMIS). The minimum is ₹1,500 a year, and you get monthly interest on your principal.

Recurring Deposits

You can open a recurring deposit at your local bank branch. Like the best FD plan, recurring deposits allow you to invest in small amounts, and you get better interest rates than an ordinary savings account.

Public Provident Fund

With the Public Provident Fund (PPF) again, you can invest small amounts at your convenience with this government scheme. Moreover, the lock-in period for PPF is 15 years, making it a viable long-term investment option.

National Savings Certificate (NSC)

National Savings Certificate (NSC) is another savings scheme offered by the government. You can open one in your local post office. The lock-in period for NSC is five and ten years. The minimum you can invest is ₹100 with no upper limit.


As a housewife, whether you stay at home or earn through an income, you can do your bit in planning the finances for your family. Follow these tips to have a safe and secure financial future and something to fall back on during a financial crisis.

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