Why is financial independence essential for every girl!

“Women need to shift from thinking “I’m not ready to do that” to thinking “I want to do that- and I’ll learn by doing it.” – Sheryl Sandberg, CEO, Facebook. Women like Indra Nooyi, Kiran Mazumdar Shaw, J.K. Rowling are great examples of how women can achieve financial independence and create a difference in the world.

So, this Daughter’s Day, let’s be financially independent! Financial independence allows you to take your own decisions related to your finances. To put it simply, it will be your income, so it will empower you to make your own decisions on how you wish to spend, save and invest.

Importance of financial literacy

Financial literacy is as crucial as financial independence. It is the ability to manage your moolah. Financial literacy is about being well-versed with budgeting, interest rates, investment plans, loans, and so on.

This Daughter’s Day, let’s change this:

According to a news website, 66% of single women do not make their financial decisions, and 33% depend on their parents to support them financially. Now is the time to change this by being financially independent.

Your parents have supported you in every way possible by taking care of your financial needs. But do you know that you have a perfect chance to be financially independent by opting for an education loan? Whether you choose to opt for a higher study in India or study abroad, education will be expensive due to soaring education costs. Let’s understand how will study loans make you independent this Daughter’s Day.

Perks of education loan:

1. No need to liquidate savings:

Imagine this, your parents meticulously planned their savings and investments at the same time, also managed all expenses related to your education. However, they have to liquidate all their savings to finance your higher study in India and more so if you plan to study abroad. Education loan saves you the agony of having to liquidate family savings or pledge gold. It covers the holistic cost of education including airfare, tuition fees, accommodation cost, libraries fees and more.

2. Credit history

Soon after completing your higher studies, you will require other financial products like credit cards, home loan, car loan, etc. For this, it is necessary that you have a healthy credit history. On the other hand, financial providers will be reluctant to give you a loan if you do not have a credit history. By being a responsible borrower, you can enjoy a healthy credit score, allowing you to easily opt for other financial products.

3. Self-made badge

How will it feel to independently fund your education by opting for an education loan and tell your peers you managed it on your own? A student loan is a perfect way to earn a self-made badge. So, let’s celebrate this Daughter’s Day by transforming into an independent woman!

4. Quality education

Whether you choose to study abroad or study in India, quality education should be your primary goal. To achieve this, you will need admission to a well-ranking university. If you are planning to study abroad, you will have to plan your expenses depending on your preferred overseas destination, which will also add to the cost. You can eliminate this gap between you and your pursuit of quality education by opting for a student loan.

5. Successful career

The ultimate goal of every student is to have a successful career. You shall enjoy a bright future and a successful career without compromising on your study plans. Women are increasingly becoming career-oriented for all the right reasons, and you must too. An education loan will empower you to build a successful career. So, take your first step towards independence this Daughter’s Day.

How will Avanse help you achieve your goal?

We, at Avanse understand the importance of financial freedom, and hence, we aim to enable a smooth academic journey by bringing you multiple benefits. Our educational financing solutions cover the holistic cost of education, including airfare, tuition fees, accommodation cost, libraries fees and more. If you choose Avanse, you don’t have to worry about margin money because our solutions offer 100% finance.

So, we hope this helps you understand how an education loan can ultimately help you achieve financial independence. We, at Avanse, will defineltly support your academic journey. This Daughter’s Day, gift yourself financial independence! This Daughter’s Day, please go ahead and live your dreams.