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Learn Valuable Financial Tips from Homemakers


Renee Rai

Sit back and let the homemakers teach you how to be financially clever and grow money.

Design Credits- Renee Rai

It is an understatement to say that managing a home is a full-time job. Homemakers put on several hats of responsibility all in one day, every day. They become caregiver, driver, chef, teacher, etc., as the situation demand.

Homemakers are also financial planners, which is their most overlooked skill. They’re in charge of planning and managing the resource allocation around the house while ensuring enough savings.

Let’s understand their role in financial management and learn how they manage money at home.


Learning to budget effectively and live within your means is a crucial financial lesson.

Making Budgets is more than just the government’s task. Homemakers also excel at making Budgets- monthly, quarterly, and annually. As they understand the ins and outs of money, they efficiently estimate the budget towards the expenses based on revenue.

Homemakers ensure the best use of the limited resources. Whether setting aside money for the home utilities like groceries, electricity, etc., or making room for unseen expenses, they have covered it all.


Morgan Housel, in his book The Psychology of Money, writes-

“When you define savings as the gap between your ego and your income, you realise why many people with decent incomes save so little. It’s a daily struggle against instincts to extend your peacock feathers to their outermost limits and keep up with others doing the same.”

Guess who in the household is the least egoistic and who keeps everyone’s instincts in check. The answer is homemakers. They consistently find creative ways to save more. 

Their savings is not just about pulling back money on expenses that may seem unreasonable but also about teaching responsible habits in the household. You’ll most often than not hear them calling you out for not finishing up your food, leaving the fan running in an empty room, or wasting water.

Another attribute is their resourcefulness. Homemakers are well-versed in recycling stuff. Using a Bournvita bottle for storing spices or saving carton boxes for future use, you have to give it to them to make use of every little thing.

All these things add up to adequate utility monthly bills along with promoting responsible behaviour towards our planet.


If you’ve ever been to the market with your parents, you know how they try to get the best deals without compromising quality. 

We can all agree that we have all felt second-hand embarrassment from the daring bargaining approach of our homemakers. But do not let it blind you to learning one of the most important lessons from your homemakers, i.e., negotiation.

In your life, there will come many instances where you’ll be negotiating house rentals, annual job salaries, high-ticket business deals, etc. 

If you notice, it’s the confidence and the knowledge of general market price which concludes an effective bargain. Homemakers usually explore various deals from different sources. They understand the situations which call for a bargain to eliminate getting fooled. In the process, they spend only what is needed.


Fixed deposits, or FDs, is the most popular mode of investment among homemakers. 

You may have come around to financial influencers disregarding FDs in favour of other investment options. The main reason is the low rate of returns. 

Investing all your savings towards higher return asset classes is not a wise choice if you place any importance on liquidity. A well-thought-out portion of your savings must be easily convertible into cash. 

Nikhil Kamath, Co-founder of Zerodha, revealed last year that less than 1% of active traders beat the 3-year returns of the bank’s FDs. 

To undermine a 6-7% annual return of FDs doesn’t seem such a bad idea now, does it? Therefore, learn the importance of liquid money as well as growing money to be able to meet unseen expenses from homemakers.

To conclude, homemakers offer valuable insights into managing resources, prioritising needs, and planning for the future. 

We appreciate their contribution and hope that they go on to achieve more than they already have.

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