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August 22, 2023
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In Sri Lanka, women are the backbone of families and communities. Whether it’s managing the household budget, supporting children’s education, or contributing to family income, women play a vital role in shaping financial stability. Yet, many women, especially in traditional or rural settings, still don’t have access to proper financial knowledge or confidence when it comes to managing money.
This is where financial literacy comes in — a life skill that every woman, regardless of age or background, deserves to have.
Financial literacy means having the knowledge and skills to manage money effectively. This includes understanding how to budget, save, invest, handle debt, and make informed decisions about spending and long-term financial planning. It’s not just about numbers — it’s about confidence, independence, and security.
1. Empowerment Through Independence
In many Sri Lankan households, men still take the lead in financial decisions. But times are changing. More women are entering the workforce, starting businesses, or managing finances as single mothers or caretakers. Knowing how to budget, save, or invest gives women the power to make their own choices — without always depending on someone else.
Even for stay-at-home mothers, financial literacy means being able to track spending, manage daily expenses, and save for emergencies. It turns day-to-day survival into long-term security.
2. Breaking Generational Cycles
When women are financially literate, they pass that knowledge on to their children — especially daughters. Teaching kids about saving money, setting goals, or understanding the value of work creates a ripple effect. It helps break the cycle of financial dependency and builds stronger, more resilient future generations.
3. Navigating Challenges With Confidence
Life isn’t always predictable. Illness, job loss, divorce, or the sudden death of a partner can throw a woman into unexpected financial stress. Without a basic understanding of personal finance, it’s easy to fall into debt or be taken advantage of.
Financial literacy prepares women to face these challenges with greater confidence and make wise decisions, even under pressure.
4. Better Use of Income
Many Sri Lankan women already contribute to their households through jobs, side businesses, or remittances from abroad. But earning money is only one part of the story — knowing what to do with that money is equally important.
Learning how to budget effectively, avoid unnecessary expenses, and build savings can make a huge difference in reaching life goals like building a house, supporting children’s education, or starting a small business.
5. Growing Your Money
Let’s face it — putting money under the mattress or in a basic savings account doesn’t do much these days. Learning about investment options like fixed deposits, unit trusts, or even small-scale share trading gives women more control over their financial future.
You don’t need a finance degree to get started. Even learning how compound interest works or what questions to ask at the bank can help you grow your money wisely and safely.
Here are some practical starting points if you’re just beginning your journey into financial literacy:
Sri Lanka is slowly catching up in terms of offering financial education to women. Banks, organizations and even government programs are creating more resources targeted at women. Online courses, webinars, workshops, and financial literacy campaigns are becoming more available in Sinhala, Tamil, and English.
In particular, the work of the Her Foundation stands out as a powerful example of how financial education can transform lives. Through community workshops, mentoring programs, and accessible tools, the Her Foundation empowers women across Sri Lanka — especially in underserved communities — to take control of their finances. By focusing on practical knowledge, they help women move from basic budgeting to saving, investing, and even starting their own businesses. Their work bridges the gap between awareness and action, making financial freedom truly possible.
In the end, financial literacy is more than just managing rupees and cents. It’s about giving women the tools they need to live life on their own terms — to plan, to dream, to support their families, and to protect themselves from harm.
For too long, many Sri Lankan women have been told that money is “a man’s job.” But the truth is, when women understand money, they transform lives — their own, their families’, and their communities’. Let’s normalize financial literacy for women in Sri Lanka. Let’s create spaces where women feel safe to ask questions, learn, and grow financially. Because when women thrive, the whole nation moves forward.
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