Working women embrace financial autonomy in TS
Only one-third of working women in Telangana (36.8 per cent) rely on male members of their family to make financial decisions, which is far better than the national average of two-third (67 per cent). Interestingly, 60.3 per cent of these women defined financial independence as “not being dependent on anybody for financial needs”.
Hyderabad: Only one-third of working women in Telangana (36.8 per cent) rely on male members of their family to make financial decisions, which is far better than the national average of two-third (67 per cent). Interestingly, 60.3 per cent of these women defined financial independence as “not being dependent on anybody for financial needs”.
This highlights a positive trend of increasing autonomy and decision-making power among working women in Telangana, indicating their growing confidence and ability to manage their own financial matters. A whopping 85 per cent of working women in Telangana are aware of their credit score, and nearly half of them (48 per cent) check their credit score regularly.
This percentage exceeds the national average, where 72 per cent of women are aware of their credit scores.These are a few of the findings of the 5th edition of the #WorkingStree survey report released by IndiaLends, an online marketplace for personal loans and credit cards.
The survey explores women’s aspirations for entrepreneurship and passive income. Approximately 18.7 per cent of working women in Telangana are planning to start a new business or find ways to generate passive income, indicating a growing interest in financial independence and entrepreneurial endeavours. The report also reveals that enhancing self-confidence is one of the biggest motivators for working women, followed by the need to support families. These factors play a significant role in driving their dedication and commitment to their jobs.
The study also sheds light on their contributions to household expenses. Around 72.5 per cent of the working women in Telangana are making financial contributions, with 31 per cent contributing more than 50 per cent of their income. Nationally, 90 per cent of working women contribute to household expenses, and nearly 40 per cent are contributing more than 50 per cent of their income.
IndiaLends, Founder and CEO Gaurav Chopra said, “It is intriguing to note that self-confidence emerges as a significant motivator for working women in Telangana. Empowering women financially is not just a moral obligation, but also a crucial factor in boosting economic growth.”
“The findings of Telangana geography from our recent #WorkingStree survey highlight the positive trend of increasing autonomy and decision-making power among working women in the region. We firmly believe that a financially empowered woman is a powerful force, and through our efforts, we aim to foster a more inclusive society.
