Why a Woman Should Maintain Financial Independence

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womenandfinancesMany women are completely independent, and others are somewhat reliant on a significant other for shelter and other costly living expenses. Some are completely dependent upon someone else when it comes to financial security. Even if a second income is not required to maintain a specific lifestyle, it is a huge mistake for a woman to rely on anyone but herself when it comes to finances. Financial independence is priceless, and everyone should work to maintain it whether they are in a committed relationship or not.

When people get married or enter into a committed relationship, they never expect it to fall apart. However, nothing in life is certain, and divorce or separation is not the only risk that a woman must consider. It is very important for a woman of any age to maintain financial independence, even if she thinks she does not need to acquire a personal nest egg or continue a career.

Divorce or Separation Can Happen to Anyone

A woman should maintain financial independence and not rely on her boyfriend’s or husband’s income, at least not entirely. Ask those that are divorced if they planned on their marriage falling apart. Of course most will all say no. Even those in seemingly healthy relationships are not immune to problems. Divorce or separation can happen to absolutely anyone. A woman should not become too comfortable or convince herself that she will live happily every after. Life lessons can be harsh and unpredictable. It is important to maintain financial independence in case the relationship should fall apart at the seams. Everyone should be able to take care of their most basic needs, and they must be able to do it completely on their own.

We Are Never Promised Another Day

A woman should maintain financial independence for a reason that is even more devastating and unexpected. We are never promised another day. Women that are dependent on their husbands often find themselves unable to pay the bills when the worst occurs. Death is one of the main reasons why a woman should maintain financial independence. If the loss of a spouse’s income will result in bankruptcy, it is time to look for a new job or examine spending habits. A woman should maintain financial independence in case she finds herself alone for any reason.

Loss of Employment Can Financially Devastate a Home

These days only a small percentage of people have complete job security. Loss of employment can result in the loss of everything from vehicles to homes. In a home where one person is relied upon to pay the bulk of the bills, unemployment is devastating. Divorce, death and separation are not the only risks to consider. A woman should maintain financial independence even if she is not living on her own. It can mean the difference between having a home, keeping vehicles and maintaining good credit.

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