The Global Gender Gap Report of 2020 portrayed 153 countries implementing different strategies towards dissipating gender disparity in the economy. However, there are many countries where the economy has high levels of gender inequality. This results in fewer financially independent women in the society. Financial independence is the potential to build one’s own living. It is important for every individual, and especially so for women, to be financially independent.
In the East, many women are rigorous homemakers and they dismiss their goals and career aspirations when they get married, if their domestic needs increase, or when they enter motherhood.
Most women take a maternity break in hopes of coming back to work after their child grows old enough to be left with a nanny. However, due to a lack of domestic and childcare support, the majority of women give up on their career aspirations and acquire a domestic lifestyle.
There is nothing wrong with choosing to become a full-time mother. However, if you have a career aspiration or a goal that you want to reach, then you should follow your dreams. Motherhood does not mean the end of a career. Nor does it mean that you should completely dismiss your wants and wishes to fulfill your loved one’s needs. Women are human beings too; they have dreams, hopes, and career goals just like anyone else. That is why I have compiled a list of four reasons why every woman should be financially independent.
1. To be responsible and in control of her life
No individual has superiority over another. However, women living in the East are not given the “permission” to work by the authoritative male figures in their lives.
What is financial abuse?
Financial abuse is a form of domestic abuse that occurs when the abuser tries to limit and control a person’s ability to use, acquire and maintain their personal financial resources.
Domestic abuse is not just confined to verbal abuse or physical assault. Research shows that financial abuse occurs just as commonly as any other form of abuse.
According to experts, one of the first signs of domestic violence is financial abuse. When a woman is financially independent, she holds the power to make decisions for herself and take responsibility for her own life, without depending on anyone else to fulfill her basic needs. A woman who is financially independent is also less likely to tolerate any form of abuse.
On the other hand, a woman who is dependent on someone else to fulfill her needs, will not be able to leave even if she faces physical or verbal abuse because if she leaves her abuser, where will she go? How will she look after herself?
Nobody deserves to tolerate abuse because they’re financially dependent on their partners. Therefore, to take control of their own lives and avoid being helpless, women must know how to look after themselves and learn to make their own money.
2. To live life comfortably
In the last few decades, there has been an inflation of economic living costs. The standards of living have become very high. Reports show that a household where both men and women earn from their respective professions, do well economically, and are able to live their lives comfortably.
Financially independent women meet the financial goals of their family and also substantially contribute to their household’s everyday expenses. If the husband is the only individual earning money in a family, it puts a lot of pressure on him to fulfill his needs while living in an economy where it is possible the job could go away unexpectedly.
Before the COVID-19 pandemic hit us, not many people would have guessed that they’d lose their jobs or become unemployed.
It is crucial for both men and women to earn accordingly so they can live conveniently in the ever-changing society.
3. To become a role model
A woman capable of standing on her own two feet, and possessing the capability of earning for herself and her loved ones is a source of inspiration and a role model for many.
A financially independent woman motivates other women to stand tall with dignity and say ‘no’ to violence.
A woman who is financially independent educates her daughters and the women of her future generation to acquire their financial power and become successful without depending on anyone financially.
When daughters grow up seeing their mothers as financially independent human beings, they recognize the significance of money and are inspired to be self-supporting when they grow old enough to work.
4. For the betterment of her country
When independent women earn money, they start spending money, which boosts the GDP of their respective countries. Taxes paid by financially independent women can increase the government’s revenue and be used for the welfare of the economy and its people. Reports show that women who earn well are more likely to engage in activities and charity events for the benefit of their communities.
According to a study compiled by the Women’s Philanthropy Institute at the Center on Philanthropy at Indiana University, females are more likely to donate to non-profit organizations. Financially independent women are also more likely to donate to non-profit organizations that work towards helping the women who belong to minority communities.
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