- Personal Finance
Why is it important for women to be financially independent??
If you are woman, are you financially independent?
Why is it important for women to be financially independent?
Financial independence implies that an individual can manage his or her expenses. If there are children, it implies that the parent can manage the expenses of the whole family. In ancient times, man used to be the sole bread winner in many societies. However, this is not true in the new era. Women are playing a significant role in contributing financially to the family.
Different cultures, societies and people tend to have different perceptions. Some think, women need to work. While others think, women need to take care of children, focus on family and money is not important. I think what is most important is what each woman think for herself. They need to take inputs from valuable sources and take their own independent decision. What is good for one person, might not be suitable for another.
Here, I provide a summary of benefits for women to be financially independent:
1. Financially independent women take their own decisions. When women are dependent upon others for money, they might need to take permission from them. Some women might be happy to do that while others need to be more independent and take their own decisions.
2. Financially independent women are good financial backups for family. In times of financial crisis, when many people lose jobs, it is good when both partners are earning income. When one loses job, other still has income to support the family and fill the gap. In terms of health, if one partner is sick, he or she can take time off and take good rest and recover properly. Finally, in case of unexpected death of family member, the other person can still handle the family expenses.
3. Financially independent women contribute financially to the family. When the inflation is up, prices are skyrocketing, if both partners are working, it is easier to own a home and meet family expenses.
4. Financially independent women contribute financially to the society and economy. When women earn money, they can be financially givers to society. They can give to charities and help in social causes. They also boost country's economy and GDP by earning actively.
5. Financially independent women motivate children to stand on their own feet. When children see that mother is earning money, they are motivated to stand on their own feet. They see good work ethic in their own home and want to follow it.
6. Financially independent women can follow their dreams. We all dream but sometimes when we don't have money, we need to adjust to what we have and be content. Women who earn money tend to follow their dreams which could be a social cause or a big car.
In summary, being financially independent is excellent for everyone. Each of us, can make a small or big effort to earn money and stand on our own feet. The benefits go beyond the economic reasons. It is good for women and the whole society.