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Why is it important for women to be financially independent??

Updated on June 2, 2013
Woman working on a laptop
Woman working on a laptop | Source

If you are woman, are you financially independent?

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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.



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    • Ruchi Urvashi profile image
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      Ruchi Urvashi 5 years ago from Singapore

      Hi Anamika, yes, financial independence is very important for women. When women are independent, they are confident, they can make their own decisions and they gain respect too..Congrats for making the decision to be financially independent!

    • Ruchi Urvashi profile image
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      Ruchi Urvashi 5 years ago from Singapore

      Hi Jainismus, thanks for reading and giving your feedback.

    • Anamika S profile image

      Anamika S 5 years ago from Mumbai - Maharashtra, India

      Financially independent women are also confident and feel proud of themselves. My financial independence gives me a feeling of power... I can do anything with the money I earn and do not have to seek anyone's approval. I am viewed with respect by others because money and lifestyle has the power to impress people. Money speaks!

    • jainismus profile image

      Mahaveer Sanglikar 5 years ago from Pune, India

      Great tip, thank you for sharing. This is a must read for women.

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Yes, ITcoach, you are right. I completely agree with you. Thanks for your valuable feedback.

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Thanks ITcoach. Yes, financially independent women are good for themselves and the society.

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Thanks Buddhaanalysis, Skyler Meyer, Marcy, Jainiscmus and Thoughforce for visiting this page and providing your feedback. Yes, financially independent women benefits not only women but family, society, country and the whole world.

    • profile image

      buddhaanalysis 5 years ago

      it is right,my mom was an officer,everything we five siblings have bcos of her hard work.

      my dad is careless,selfish and more problem to family

    • Skyler Meyer profile image

      Skyler Meyer 5 years ago from 297 Garlington Rd Unit A Greenville, SC 29615

      Hi, I'm definitely considered myself as financially independent and on-line job is one of my source. Great hub.. Voted up..

    • Marcy Goodfleisch profile image

      Marcy Goodfleisch 5 years ago from Planet Earth

      All the points you've made are valid and true, Ruchi. I feel very fortunate to be independent; it is liberating and gives you an incredible sense of peace. Although I believe it's important for a woman to be with her children when they are young, I also believe it's important for women to have a reliable way to support themselves should the need arise.

      So many women have no experience in the career world, and sometimes have little exposure to paying bills or managing the family finances. When a couple handles finances this way, it is short-sighted. Statistically, women outlive men; they need the skills to go it alone.

      Voted up, useful and interesting.

    • jainismus profile image

      Mahaveer Sanglikar 5 years ago from Pune, India

      Ruchi Urvashi,

      You have written on a very important subject, thank you for writing this. Voted up and shared.

    • thougtforce profile image

      Christina Lornemark 5 years ago from Sweden

      I agree totally and it is so important for women to be financially independent. Education and financial independence are needed steps towards equality! Good article and great list of benefits! Voted up, interesting

      Tina

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Yes, Millioniare Tips. Thanks. I appreciate your feedback. When I was young, I saw widows living near me and going through lot of difficulties, that made me decide that I must earn my own money. Thank God, that is true today and it makes a lot of difference.

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Thanks Vinaya for your valuable feedback. When women stand on their own feet in terms of finance, it makes a lot of difference. Good education plays a big role in helping men and women achieve financial well being. Thanks for reading my hub. Appreciate your wisdom.

    • Ruchi Urvashi profile image
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      Ruchi Urvashi 5 years ago from Singapore

      Thanks for your valuable comment.

    • Ruchi Urvashi profile image
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      Ruchi Urvashi 5 years ago from Singapore

      Hi Sen, thanks for your feedback. Yes, I agree with your views. When women are financially independent, it helps them to have their own identity. Thanks for voting up.

    • Millionaire Tips profile image

      Shasta Matova 5 years ago from USA

      I agree that women should have the ability to support themselves, and know how to handle money. Even if they choose not to work, it does help them feel more of an equal partner and will help them if they are in an abusive situation, or if they get divorced or their spouse dies.

    • Vinaya Ghimire profile image

      Vinaya Ghimire 5 years ago from Nepal

      One of the reasons of subjugation of women is they are financially depended on men. I agree with your point of view. One way to make women financially independent is good education.

    • vnsatakopan profile image

      Dr.Vangeepuram Navaneetham Satakopan 5 years ago from Chennai, India

      Some interesting and valid points made out by you. Good work.

    • sen.sush23 profile image

      Sushmita 5 years ago from Kolkata, India

      Ruchi, I agree with Shampa, being financially independent is really about your identity. Very relevant Hub. Your writing format is also very clean and nice. Voted up Interesting.

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Thanks Shampa Sadhya for your wonderful feedback. I agree with you and appreciate your wisdom. Thanks for reading and sharing. Best wishes.

    • shampa sadhya profile image

      Shampa Sadhya 5 years ago from NEW DELHI, INDIA

      Voted up and Useful!

      Loved your hub. Now a days it is essential. At present I am not a working woman and no basic problem I face due to it but still I would advocate for the subject matter. Earning handsomely from HP means I have to wait for a long time but it has given me the pleasure of being a freelance writer, an identity.

      It certainly proves your saying that working for woman goes beyond economic reasons. Sharing it socially here and on other site.

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Hi Ruchira, thanks for your feedback and voting up. I agree that financial independence help in emotional independence as well.

      Hi Glassvisage, thanks for your comments. Yes, being financially independent is very important. I too keep individual bank account and we share our expenses. It works better as it gives us freedom to share and enjoy at the same time.

    • glassvisage profile image

      glassvisage 5 years ago from Northern California

      Thanks for the Hub! I agree completely. When I was set to marry, I knew that I didn't want to combine our bank accounts because I was proud of everything I had done for myself on my own and didn't want to forget how independent I am.

    • Ruchira profile image

      Ruchira 5 years ago from United States

      Hi Ruchi,

      Well said indeed. Women are emotional beings and being financially independent can help motivate a woman towards being emotionally independent as well.

      keep the fire going, my friend. voted up as useful.

    • Alecia Murphy profile image

      Alecia Murphy 5 years ago from Wilmington, North Carolina

      In this modern society, having an education is one of the key steps to being independent but I agree a financially independent woman is a strong catalyst for friends, family, and anyone who knows her. Very good hub.

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Hi Sabrani, thanks for your valuable feedback. I appreciate it. I hope you can use the above information and wish you all the best.

    • sabrani44 profile image

      sabrani44 5 years ago

      Great hub, you bring up some great points. If anything goes wrong then at least you can support yourself and your family. Voted up and useful!

    • Ruchi Urvashi profile image
      Author

      Ruchi Urvashi 5 years ago from Singapore

      Hi everybody, thanks for your valuable feedback. When women are financially independent, they have more choices and they can be financial givers to help society and social causes. Thanks for voting up.

    • rajan jolly profile image

      Rajan Singh Jolly 5 years ago from From Mumbai, presently in Jalandhar,INDIA.

      A very impressive hub. You have raised very valid points. In these times, women must be financially independent. It also brings them more respect in the home and the society at large.

      Thanks for sharing Ruchi.

      Voted up and useful.

    • hecate-horus profile image

      hecate-horus 5 years ago from Rowland Woods

      Vote up. My husband likes me at home, and I do too, but I still work part time jobs online and outside the home. It makes me feel like I'm pulling my weight. I think it's essental that my both of my daughters have a college education before they get married. They shouldn't have to depend on anyone for their financial security.