How many of us have mothers who would just keep everything aside and just focus on the kids? Many people will say that their mothers rarely ever do something for themselves. But we don’t want our mothers to do that, do we? We don’t want any mother to do that. Women’s existence goes beyond childcare and we must never stop investing in ourselves as individuals.
Personal growth should be a continuous process in life. Since mothers tend to have too much on their plate, unfortunately, as domestic duties are often split unevenly, it’s even more important they make a conscious effort of investing in themselves.
With the expenses of having and raising children, and building a financially secure life for yourself and your family, often, mothers end up not investing in themselves. But they say you can’t pour from an empty cup, and you must take care of yourself to be able to take care of others.
Here are areas of personal growth you must financially invest in.
· Learning
You can never get enough of knowledge in your life and more often than not, it doesn’t ever go to waste. Continue learning, be it adding new professional skills to your resume, or learning new forms of creativity. Investing in learning will help you keep elevating your life and your happiness.
· Healing
When we are kids, we imagine adulting to be this all-freeing phenomenon, one that will open several doors for you. But we don’t realise that often it also calls for closing several doors, which is often painful and we don’t even know what comes at us, through those open ones! We make so many tough choices, emotions get more complicated, and struggles get bigger—sometimes, the impact stays on us subconsciously. The best thing you can invest in, is in healing yourself. Whether you take therapy sessions, meditation classes or simply learn self-help techniques, you go for what heals the little scratches on your heart.
· Rejuvenating:
Being a mother is immensely tiring. Whether you are a homemaker or employed elsewhere, you need to unwind, if getting burned out is not on your to-do list. We know saving money is important, but don’t feel guilty for investing a little money on rejuvenating your senses. Be it a spa, a vacation, or some me time—do what it takes to give you an energy refill.
· Healthy Living
During the COVID-19 pandemic, the realisation that health is everything became even stronger. Mothers often tend to not have enough time or energy to invest in their health, but they must. Set a budget aside for regular medical checkups, health supplements, wholesome foods and fitness classes, as per your requirement. You must also have an emergency fund and insurance.
· Being socially active
Networking and finding support among your peers, in your friends and groups make all the difference. You can learn so much from each other, and having people who offer different perspectives to you can aid your personal growth. Professional networking can help your career too. Set a budget aside for socialising with people, so you are not getting isolated while getting entangled in your family life and work.
How to budget for personal growth activities
We have so much to do, so many ways we can invest in our personal growth. But every person has a different financial state, taking into account the monthly cash inflow and outflow as well your priorities. How should you financially prepare and plan for investing in your personal growth?
We spoke to Neha Nagar, a finance expert and founder of Taxationhelp.in, and she shared her insights for mothers who are financially planning for investing in their personal growth. Whether you are working for a company, as an independent professional, as a business owner or as a homemaker, these financial tips will help you invest in yourself better.
1. Track your cash inflow and outflow
Budgeting for your personal growth activities requires you to take into account how much money you have coming in, the fixed and variable expenditures, how much has to be saved and invested, etc. “It is important that mothers should keep a check on their cash flow, and sources of income. This will allow them to seek additional sources of income or adjust their lifestyle to fulfil their financial requirement,” Nagar points out.
Investing in your personal growth is important and you will have to create a budget for it, depending on your spending capacity. Once you know the amount you can invest in it, you will have to make lifestyle changes or adjust the budget for other things, depending on your priorities.
2. Filter and prioritise expenses
Most of us cannot invest in all personal growth activities, all at once. You will have to build a timeline and prioritise what needs investment, when. For instance, if you are taking up an online course that is going to cost you a lot, you will probably have to plan a vacation when you financially recover from that. “Create a To-Do list, organise and find-sort-work according to its importance,” Nagar advises.
3. Investing
“Mothers should always keep some of their income aside for investing,” Nagar advises. She advises investing in Mutual Funds, for comparatively lower risk. You can also invest in equity and gold, which, though more traditional assets, are preferred by Indian millennials as investment options.
4. Opting for EMIs
“EMIs are useful when you want to buy something that your bank balance doesn’t support,” Nagar points out. If you are putting money into a fitness class membership, taking a vacation or purchasing an online course, opting for EMIs can help reduce the impact of the huge costs associated with it. Even if you have the money in your account, distributing the cost in a few months can help you live a little more comfortably.