According to Dia Kothari, Panschil Realty, Mumbai says, "As your spending power increases, there is an improvement in your social status. You don't have to rely on your parents or husband in order to survive."

The increased disposable income is a good sign of progress but often, investment of that money is neglected due to lack of knowledge as to how best make use of the money.

Despite the fact that Kothari feels that women are now more open to taking risks than being averse to them, there are still several women who are not equipped with the know-how of how to handle their money and spend it wisely.

Here are 9 Money Tips for a Smart Woman.

"I have noticed that most investment and saving is done with the view to reduce tax. But, what women should realise is that after a point, tax has to be paid and you cannot avoid it and you shouldn't make investments with tax saving being your only priority. Invest post tax income and try to maximise that money, says Sandeep Shanbhag, Director, Wonderland Consultants, Tax & Investment Advisory.

He further adds, "there are various ways to invest smart and many women just leave money lying idle in the bank, which again, is a waste. Instead get out there, gather information and utilise your resources."

Above all, Analysis is the Key to Investing.

For Kothari, being financially self-sufficient is a sign of progress but the same movement can cause stress to others.

Rutchie K has just completed her Bachelor of Architecture degree from the Academy of Architecture-Rachana Sansad, Mumbai. She feels that being independent financially is definitely essential but views it as a phenomenon that should be applied to all individuals and not just women. In fact, she feels with more women earning, sometimes there is too much pressure to follow their example.

"Being part of a wealthy family, I never had any restrictions imposed on me for money. Yes, I do want to be financially self-sufficient but want to take my time and figure out how I want to go about doing it.

Learning to be financially independent gives you the confidence to be able to handle everything that comes your way. On a personal level, the kind of high you get from spending your own money cannot be duplicated as it is money that you have worked hard for and have the satisfaction of knowing you deserve."