Saturday, July 26, 2014

Saving for Independence

 I would like to start this post by saying that what I am about to say is strictly my opinion. I realized  as I was writing it long hand, that there will be some (maybe many) who will disagree with me, but I came about this belief from years of listening to women tell me that they could not get out of a bad  marriage because they were financially dependent on their spouse. “What am I going to do? I have no money!” I understand that creating a personal checking account and savings account when living in an abusive relationship can be near to impossible, so that situation is one that needs to be dealt with on an individual basis, but what I’m talking about is a marriage or common law relationship where there is no physical or emotional abuse.
     Regardless of whether a woman works outside the home or is a stay at home mom, she should put aside some money for her own investment or savings. Why? Because, I believe this will avail her  the opportunity to be independent. Money like education gives women power, and I happen to think power is good. I believe when a woman has set aside some money, she will not feel reliant on her husband as though she has no individuality.
     I also think that learning about finances is crucial, so decisions regarding financial security are mutual and not one sided. It pains me to hear how some women have no idea what their financial situation is. They don’t know what’s in the family savings or checking accounts. They don’t know if there’s a trust fund or if they own stocks, etc. Women should be cognizant of the family’s financial status, and all decisions regarding finances should be met as a couple.
     Women need to become more financially savvy and financially independent.  I don’t think a wife or partner should secretly stash away money (unless this is necessary, i.e., abusive situation); it should be discussed, so the spouse understands the premise behind the independent saving or checking account. Unless the husband feels threatened, there shouldn’t be a problem.

     I really wasn’t going to write about this topic because I thought this generation of married couples were quite different from past generations; after all, women’s lib took care of our independence, didn’t it? The answer is no. This generation still depends on the man of the family even though the majority of women work! So, I thought, what the heck. I’ll write about it. 

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