Listed on Speakerinnen!

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Proud to be listed on the Speakerinnen website – that, too, highlighting my favorite topics to speak about – Empowering Women, Communications, Educational Technology and Employability Training. Kudos to the founders of the project; this is a great way to show support for balanced representation of both genders on the stage and across all other platforms (digital/virtual).

Looking forward to attending more conferences in 2016!

Meaning behind the Name

Y8DMSZXDASA little bit about the name, Catalyst Woman – a few years ago, when a colleague was writing a farewell email, she referred to me with a line “I am sure that Mariam will be the catalyst to bring positive social change in Pakistan in our lifetime”.
593a319b83776885f262189de402b0abWe had spent many a tea-break discussing the dearth of quality educational/vocational initiatives for millennial Pakistani women – one can assume that kinship resulted in that sentence.
A year later I formally launched the consultancy with the aim to level the playing-field for working women in Pakistan via every project at Catalyst Woman.

#1 One Reason for Millennial Women to be Financially Literate

Blog Series: 10 Reasons For Millennial Women To Be Financially Literate

Are you Financially Literate?

Being financially literate goes beyond knowing how much savings one has in the bank; it means possessing the ability for informed financial decision-making.  I will be sharing the top ten reasons why Millennials Women MUST dominate their finances and what that looks like – beyond the jargon.

The Number One Reason for Millennial Women to be Financially Literate

#1 – FOMO is a Trap

FOMO.  Fear of Missing Out.  According to the dictionary :

FO·MO  ˈfōmō/   noun informal     noun: FOMO

  1. anxiety that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website.”I realized I was a lifelong sufferer of FOMO”

The important words in the definition are “social media” and “anxiety”. Social Media posts by other people, especially acquaintances or the random troll,  can be annoying, but Anxiety-Causing?   Turns out this is a real issue – we can literally feel disconnected and dissatisfied with life due to the perceived success and contentment of our peers and idols.

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There is nothing wrong with staying up-to-date with our friends’ lives, but when FOMO sets in, we start comparing and evaluating our lived experiences – unconsciously. That is damaging behaviour.
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If you have ever felt the need to constantly check your Instagram or Facebook Timeline while out with friends, that is what FOMO looks like. The theory is that social media, with its sheer speed and glossy selfies, overwhelms users with imagery that is picture-perfect. In-fact, that is exactly what it is – Too Good To Be True.

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While our rational mind is well-aware of the fact, the subconscious gets triggered by these posts and creates a nervous energy – a nervous energy that is often channeled, at a HUGE disadvantage to your wallet, by going shopping.

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See enough pictures of your ex-boss’s new Ferrari and chances are you are gonna want to a) Buy a Ferrari  or b) Realize you can’t afford a Ferrari  and eat a tub of Chocolate Ice Cream or c) Go shopping and buy yourself another scented candle set to gloss over the feeling of overwhelm.  If this happens enough times, you will be making decisions triggered by outside influences – including how you spend your money- rather than by rational thinking and planning for what suits you best.

Still not convinced that FOMO is dangerous to your financial health?  According to Yahoo Finance, the need to keep up with friends has resulted in 56% of Canadians aged 18 to 30 to live beyond their means.  Their purchasing decisions are the result of social pressure from Instagrammed selfies and Snapchat clips, often with luxury brands popping up.

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So, the number one reason that Millennial Women should be Financially Literate is that FOMO or Fear of Missing Out is a trap.  It is an anxiety-ridden behaviour that often results in overspending that ruins your budget and fills nothing but your closet.
Coming Up Next –>   Cut It Out!  The Expenses! Stick to a Budget! 
Like what you read? Want to ask me a question about personal finance? Drop me an email at talktocatalystwoman @ gmail.com or visit my Facebook page

Thoughts on the Google’s Techmela: A Tech-nical Oversight

Living on the internet, as the most of us do, we are used to brands coining new terms in hopes that they become trends on Twitter. The latest effort in the Pakistani Twitterverse is the phrase #techmela by the folks at Google.

The Google-powered “Techmela”  ( technology bazaar ) is being advertised as the biggest online technology shopping festival with exclusive partnership with Daraz.pk as the site hosting the sale.

On the surface, it seems like the Public Relations team was sleeping on the job with the slow spread of the announcement of the “biggest” shopping event.  Aside from the few tech-celebs cut-and-pasting a press release, there was little to go by on what differentiates this online sale from the thousands of products being sold to Pakistanis everyday.

As for the assumption that this particular Google-backed and Telenor-backed event is some sort of technological Messiah for the fledgling E-Commerce domain in Pakistan – I seriously doubt it. 

Granted, when you throw in money by the way Telenor and Google, things will happen. I have to ask though –  How is exclusively supporting one vendor when there are thousands of individual small business people in Pakistan selling their products and services online have any positive outcome on the adoption of e-commerce?  This is nothing but a purely commercial event being touted as a social development.

If you are Google Pakistan, Telenor and any other stakeholder seriously invested in E-Commerce, listen up! The success of the E-commerce domain in Pakistan requires the following scenarios to be considered.

  • If online users are not purchasing products, it is not because there aren’t the right products or even the right discounts being offered. The number one barrier to purchasing online is the inaccessibility to e-banking or mobile banking solutions – especially for unemployed women. 
  • Another reason that online users are not purchasing online is that even if they do select a product, the e-commerce vendor ( here I am referring to a small business person, not a Kaymu or Daraz) has little to no access to payment solutions such as door-to-door credit/debit card payment solutions. One example would be Monet’s Swipe2Pay mobile point-of-sale service, which can be a viable solution but they are bit vague on how to go about offering their services to small businesses at this moment in time. Such a solution would erase the anxiety that small business face when trying to sell wares to a distant location when Cash on Delivery is simply not an option.

Until the small business persons/merchants are empowered to sell their wares and receive payment from across the nation, the E-commerce domain will continue to be monopolised by the few and the connected.

As for the Google Techmela? IMHO, it is an amateurish attempt at capitalising on the earnest efforts of the tech and banking industry to bridge the gaps in the e-commerce domain.