By Smita Khanna Kithania, Chief Operating Officer, Newton Consulting India
A decade ago, my mother was diagnosed with cancer. It was completely unexpected—she had always been a healthy person. But the real shock came when my health insurance claim for her treatment was denied. I had to dip into my savings to ensure she got the best possible care. Looking back, I realize how important it was that I had always believed in saving for a rainy day. More importantly, I was comfortable discussing money matters from an early age.
But when I look around, I still find that many women hesitate to talk about money. This silence holds them back—it affects their financial well-being and limits their ability to reach their full potential.
The Unspoken Barrier
For generations, financial discussions have been considered a man’s domain. Conversations about salaries, investments, and savings often happen among men, while women are expected to focus on running the household. As a result, many women grow up without the confidence or knowledge to manage their finances effectively.
This lack of financial awareness has serious consequences, wherein women are more likely to save less for retirement, earn lower returns on investments, face financial insecurity later in life and be more vulnerable to financial exploitation.
Why Women Must Start Talking About Money
It’s time to break this silence and when women openly discuss money, they:
- Gain Knowledge and Confidence: Money matters can feel complicated, but discussing finances with friends, family, or colleagues makes it easier to understand. Whether it’s learning about savings schemes like PPF and SIPs or understanding credit card interest rates, these conversations help women make informed financial decisions.
- Get Paid What They Deserve: Many women in India hesitate to negotiate salaries, often accepting what’s offered without questioning it. But talking openly about salaries helps women understand industry standards and demand fair pay. After all, financial independence starts with earning what you deserve.
- Build Financial Security: Life is unpredictable. Job loss, medical emergencies, or even divorce can disrupt financial stability. Women who discuss and plan their finances are better prepared to handle such situations without feeling helpless. Having emergency savings, investments, and insurance is key.
- Inspire Other Women: When women share their financial experiences—whether it’s how they started investing or how they negotiated a better salary—they inspire others to take control of their finances. Real-life success stories can break taboos and encourage more women to talk about money.
How to Get Started
Breaking the silence around money requires effort from all of us. The following is a list of suggestions about how we can make a change.
- Create Safe Spaces for Money Talks: Women should have platforms—WhatsApp groups, community meetings, or online forums—where they can discuss money openly without judgment.
- Teach Financial Literacy at Home and in Schools: Just like we teach kids the importance of education, we should teach them the basics of money management early on.
- Change the Narrative in Media: Movies, TV shows, and advertisements should normalize women confidently discussing money, investing, and planning for their financial future.
- Push for Policies that Support Women: Affordable childcare, equal pay laws, and better access to financial education can help women achieve true financial independence.
- Be Less Judgmental and More Open-Minded: One of the biggest hurdles women face while discussing money is judgment from other women. Many hesitate to talk about their salaries, investments, or financial struggles because they fear being criticized or looked down upon. Instead of passing judgment, we need to create an environment where women feel comfortable discussing money without shame. Whether someone is earning ₹20,000 (approx. $230 USD) a month or ₹2 lakh (approx. $2200 USD), every financial journey is different, and each step forward deserves encouragement. By being supportive, we can help each other grow and make better financial decisions.
As someone in the business of marketing and communication, I know the power of words. Conversations shape mindsets, and mindsets shape actions. It’s time to start talking about money openly, confidently, and without hesitation. Let’s empower women to take control of their financial future and build a more secure, independent life.
Smita Khanna, COO of Newton Consulting India, is a seasoned strategist with two decades of experience in the marketing and brand communication landscape. With a career spanning media giants like the Times of India Group and India Today Group, she brings a unique blend of marketing and brand communication expertise. She’s launched India’s first just-for-women radio station Meow 104.8FM and spearheaded innovative outdoor campaigns. Her commitment to women’s empowerment extends beyond her professional life, as shown by her long-standing pro-bono work with the Indian Cancer Society. She has led impactful campaigns, including launching marketing campaign of Bus OEM division for the JBM Group and handheld the launch of their first EV Bus in the Auto Expo, and executing award-winning CSR initiatives like the Meow Walkathon for breast cancer awareness. You can connect with Smita on Linkedin.
