Queen Sandi Financial Counsellor,In my 27 years as a financial counsellor, my mind boggles why educated, intelligent, and sometimes even working women still neglect their personal financial security and freedom. In fact, our careers may take a back seat when we enter motherhood or when domestic needs overcome our career goals. What starts as a maternity break may stretch into a long career break! In other instances, women give up their careers to care for elderly parents or may have to sacrifice a lucrative job to follow their husbands to another country.
Here’s why every woman needs to be financially independent, married or not. Pre-empt emergencies Every family must have a contingency plan; redundancies are frequent, businesses are dependent on economic cycles, and ill health and death factor in. If the husband is the sole earner, job loss due to redundancy or health will impact income, causing a drain on savings. Wives must be involved, not only in household budgeting but actively managing savings, investments, insurance planning, and funding. Beat Inflation is the silent thief. Home, kids’ education, and an aspirational lifestyle are challenging. 2-income households fare better. Women who are financially independent not only contribute to added costs but also help to meet the family's financial goals. Responsibility Boosts Morale: Financial independence increases a woman’s self-respect, self-confidence, and self-worth. They can fulfil their aspirations independently of their spouse or parents. This enables them to upgrade skills, travel, and buy things they want! Self respect/Safety Financial independence decreases instances of domestic violence and abuse and provides a buffer, making women feel secure. less helpless.
Role-model, A woman who supports the needs of the family financially becomes a role model for her kids, both socially and emotionally. Gender bias becomes redundant. When kids see that their mothers are involved in decision-making, they will be inspired to be self-sufficient in life as they mature. We are the women of the millennium, trying to do it all and have it all. But how do we become financially independent or savvy when the kids are screaming, our husbands are demanding, and our business associates are making us crazy?
It is imperative for all women—married, single, separated, widowed, or divorced—to be financially independent.
Shared By Queen Sandi Saxena
Published by She Business Time