• Source:JND
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International Women's Day 2025: Financial independence is one of the greatest things that women can give to themselves and saving for the future is only one aspect of financial independence; another is making sure you can live your life as you want to without any financial strain. We are witnessing a time when women are leading the throne by scripting history across the domain, be it finance, sports, technology, etc.

Now, as we celebrate the International Women's Day today, i.e. March 8, let's discuss how women in their 20s, 30s and 40s should do financial planning to achieve financial freedom.

Establish the Groundwork In 20s

Financial independence begins in your twenties. It is tempting to overspend when you have your first job and salary, but now is the ideal moment to develop sound financial practices.

"Money gives you choices. It is not just about saving for the future—it is about making sure you can live life the way you want, without constantly worrying about finances," says Pritika Singh, CEO at Prayag Hospitals Group.

Make a budget and keep track of your spending first. Make contributions to a Public Provident Fund (PPF), open a Systematic Investment Plan (SIP), and look into stock investing; even modest sums can increase dramatically over time. At this point, health insurance is essential because it is less expensive when you are younger and guarantees coverage in case of emergencies.

Steer clear of excessive credit card debt and pointless loans.

As Rashi Wadhwa, CEO of Koescore Online Pvt Ltd, advises, "Start in your 20s by avoiding unnecessary loans, limiting credit card debt, and prioritizing savings." An emergency fund covering 6-12 months of expenses is also crucial for financial security.

Increasing Your Financial Security in Your 30s

Your obligations increase along with your money. This decade has seen an increase in the complexity of financial decisions, whether they involve marriage, family planning, or home loans.

Increase your contributions to retirement accounts, real estate, and mutual funds now to diversify your investments. Tax planning ought to be a strategic benefit rather than a last-minute chore. Utilize tax-saving tools such as EPF, NPS, and ELSS to minimize obligations and increase profits.

"By your 30s, as responsibilities grow with potentially higher income, smarter investments, emergency funds, and comprehensive insurance become crucial," notes Pritika Singh. A well-planned insurance portfolio, including life and health insurance with adequate coverage, becomes even more important.

Instead of concentrating on lifestyle inflation at this point, increase your savings rate. This guarantees that you are ready for upcoming financial requirements, including the schooling of your children or becoming a homeowner.

Achieving Financial Independence in Your 40s

Your forties should be a time of security and stability. These days, the main priorities are debt reduction, retirement savings growth, and long-term financial stability.

"Achieving financial freedom in your 40s means living debt-free—no EMIs, no financial stress, just full control over your money. But this requires smart planning early on," emphasizes Rashi Wadhwa. If possible, aim to clear all major debts, including home and car loans, by this stage.

Maintain your aggressive retirement fund investments while making sure your portfolio is well-diversified among equities, bonds, and real estate. This is also a good time to consider estate planning; you can protect your family's financial future by drafting a will and designating beneficiaries for investments and insurance.

Freedom through Financial Planning

Financial planning is about having the power to make decisions, not just about statistics.

"At every stage, financial planning means freedom. The freedom to say yes to opportunities, to walk away from things that do not serve you, and to live life on your terms," says Pritika Singh.

Early financial management sets the stage for a future free from worry and full of power. Whether you are in your 20s, 30s, or 40s, a disciplined financial planning enables you to accumulate wealth, get rid of financial concerns, and genuinely enjoy life as you see fit.