From running the household single-handedly to launching satellites, there’s nothing that women can’t do. However, as is the case with women across the globe, they often tend to ignore their health and finances. When it comes to managing their finances, most women are still relying on primitive ways. In today's time where the inflation rate is quite high, it's immensely challenging to make ends meet. Hence, women need to come up with novel means to be financially independent.
Understand the term 'Financial independence'
‘Financial Independence' is about deciding what to do with your money. It is the ability to earn one’s living. This applies to both working women and housewives. Being financially independent is liberating. At times, financial independence is more about having financial freedom in the present and not just the so-called financial security in the future.
Reasons women need to be financially independent:-
- To forestall emergencies: Every individual needs to be prepared for a contingency. In this erratic environment where layoffs are frequent, jobs are not secure, and so is life. If a family has just one earning member, which usually is a man, it becomes difficult for the people financially dependent on him if something goes wrong with the primary breadwinner. It makes sense for the women of the house to also participate in earning for the family.
- To stop feeling dependent: The feeling of being financially dependent is extremely intimidating. There have been multiple cases where women have been victims of domestic violence and abuse just because they are financially dependent on their partners. So, it's immensely important for women to earn so that they don't ever feel helpless in life.
- To be a role model: A working woman will always be able to support the needs of the family in many ways, be it economic, emotional, or social. A financially independent woman will confidently have her family's back. She becomes the role model for her kids to show them that gender bias is society-driven. Mothers handling domestic finances is normal.
- To feel empowered and live with self-respect: Several women from conservative backgrounds with dreams and aspirations depend on their partners or parents for their fulfillment. Being financially independent enables them to make their own life decisions, which boosts their morale and increases their self-confidence. It is often seen that a person who is financially secure works more efficiently, grows faster, and lives with self-respect.
