Across India, women are increasingly taking control of household finances, but access to financial education remains uneven. Recognizing this disparity, a new initiative, "Change The Soch," is launching a 21-city drive to promote women's financial literacy.

The "Change The Soch" campaign specifically aims to address the financial literacy gap among women across various regions. This initiative acknowledges the crucial role women play in managing household finances and seeks to empower them with the knowledge and skills necessary for informed financial decision-making.

Financial literacy for women goes beyond basic budgeting. It includes understanding investments, retirement planning, and navigating the complexities of the financial world. Studies reveal that women often have lower rates of investment compared to men, highlighting the need for targeted financial education. Furthermore, inequities widen amongst members of BIPOC communities.

Several factors contribute to the financial challenges women face. These include the gender pay gap, career interruptions for caregiving responsibilities, and longer life expectancies. These factors necessitate that women save and invest differently than men.

The "Change The Soch" drive includes workshops, seminars, and one-on-one mentoring sessions. These programs cover topics such as budgeting, saving, investing, debt management, and retirement planning. The initiative also focuses on building confidence and encouraging women to take an active role in their financial futures.

Experts emphasize the importance of women seeking out financial mentors and sponsors who can advocate for their advancement and connect them with career opportunities. They also encourage women to educate themselves about investing, starting with micro-investments and exploring options like 401(k)s and Roth IRAs.

Notably, women are expected to receive a significant share of the wealth transfer in the coming decades, largely through inheritance. Millennial women are also poised to inherit a considerable amount. This makes financial literacy even more critical for women to manage and grow their wealth effectively.

The "Change The Soch" initiative is a timely and essential step towards promoting financial equity and inclusion. By equipping women with the necessary financial knowledge and skills, this 21-city drive has the potential to transform lives, strengthen families, and contribute to a more economically empowered society. It is a call to action to change the narrative and ensure that women have the opportunity to achieve financial security and independence.