Financial independence means making enough money to cover your living expenditures. Therefore, it is critical for all people, men and women alike, to be financially self-sufficient in today’s world.
Many Bangladeshi women are good housewives, but when they become mothers, or their household’s domestic needs become more important, their careers often have to take a back seat to take care of them.
It’s critical to recognize that many women today are forced to live their retired lives alone, either to their extended life spans or separation from their spouses. As a result, at some time in their lives, women may be forced to manage their finances independently.
Sumaiya Tasnim, a mother of two children and devoted wife, works tirelessly to meet her family’s financial commitments on her husband’s meagre salary. Despite having few complaints, the 38-year-old woman says she occasionally feels alone and financially insecure. “He is a nice husband and a good parent,” she says, “but asking him for money makes me feel very uncomfortable and uneasy.”
This isn’t just Sumaiya Tasnim’s situation. Many women, like her, rely on their husbands to provide for their basic financial needs. Working women, like housewives, lack financial freedom because they end up paying their income to Gatekeepers—brothers/husbands.
Financial independence refers to generating enough money to meet your basic requirements and desires. For example, women were once supposed to put their dreams aside and rely on their boyfriends for financial support. Instead, women now have access to education and other resources to earn their own money and care for themselves. Here’s why being financially self-sufficient as a woman is so crucial.
Boost Self-Confidence
Independence can increase one’s self-worth and self-esteem, especially if one of her goals is to become self-sufficient. Financial, emotional, social, professional, and personal independence give her a sense of accomplishment that changes how she sees herself and others. The increased self-worth that comes with autonomy will considerably boost their self-esteem and personal achievement. Besides, earning one’s own money will make her a more confident person.
Women can rely on themselves for most things if they are financially independent. It can be aggravating to rely on others to meet their needs and wants, especially if those people are untrustworthy or have financial difficulties. Self-sufficiency does not imply that they never seek assistance; instead, it means that they can meet their immediate needs.
Allow Women to make their own choices.
Women who rely financially on their husbands frequently lack the power or authority to make major decisions in their relationships. If their partner makes money in the relationship, it’s simple to find themself in a situation where they dictate and dominate the situation. Because they don’t have their own money, it’s harder for women to express themselves or make decisions (even if those decisions harm them).
They have the ability to assist others:
Being able to assist others in achieving financial independence is an important part of being financially independent. While a woman is under no need to do so, there is a sense of accomplishment in being able to assist their family and loved ones financially.
To Have Own Identity
In order to build an identity, it is necessary to be able to earn a woman her own money. Nonworking women unknowingly take on the duties of wife and mother for their husbands and children. They may even lose their own identity in the process. As a result, it is critical to make money and be financially self-sufficient.
To Be an Inspiration to Her Children:
A woman who is financially, socially, emotionally, and in other ways capable of meeting her family’s demands is a role model for her children. She teaches her children that gender bias is merely a social construct. A woman who is strong, confident, and certain of herself may accomplish a lot in life, including financial success. When children see their mothers being financially self-sufficient, they will understand the value of money and be inspired to be economically self-sufficient as adults.
Financial independence requires effort and perseverance, but the benefits are well worth it. A woman needs to invest in herself so that she can contribute to her well-being, so that she can become an equally contributing partner in their relationship and so that she doesn’t have to rely on others to survive. Financial independence is critical for all women, whether married, single, separated, widowed or divorced. However, economic freedom should not be confused with financial security. A monthly pay cheque in your bank account will not enable you to meet all of your financial objectives. It is how you plan and manage your finances that will lead to achieving goals later in life.