5 Reasons Why Women Need to be Financially Independent

A woman cover parts of her face using a stack of cash as example of financially independent women.

In this post, I will be sharing why women need to be financially independent.

As a woman myself, I learn that it is important for women to be financially independent. This is for her own benefit and also for those she cares about.

I would say, among the people I respect and admire most are those working mums with young family members.

These amazing working mums are working hard to manage their full-time job, caring for the young family members and at the same time taking care of the long list of household chores.

I salute these women and I support what they are practising.

Though, just like me, some women prefer to take some years off from their full-time employment to concentrate on their young family members. And return to the workforce when their young family members are more independent.

As a woman myself, I know all these are not easy, but we women should really continue working and most importantly be financially independent.

I have the reasons below on why women need to be financially independent:

1. Women are prone to the health issue

Compare to men, women are more prone to health issues. This is because our body organ is far more complex and complicated. For example, our reproductive system has more organs involved and thus has higher possibilities of health issues.

We should invest in a good health protection insurance product. We should also have emergency savings in case we need to take long leave from work or to support us when we are not able to work.

2. Women have a longer life span

Based on Malaysian statistics, the average life span for Malaysian men is 72.7 and for Malaysian women is 77.6. This shows that on average, Malaysian woman life is 4.9 years longer than a Malaysian man.

So, a woman needs to be more prepared for a longer life span. Thus, women need to be financially independent to support themselves.

3. To ensure continued financial support for our children

I believe all mother wants the best for their children. And most mothers also understand their children’s needs better. Especially during younger years, most mothers would like to give the best for their children. This includes the best childcare facilities, the newest and coolest toy, the best school, and many more.

All these involve money. If the father can provide basic needs, then with the salary earned, the mother can provide additional and special support for these children.

4. To avoid financial havoc if there is a marital problem

We know, it is always something out of our expectation. It has been too often, we hear who and who is in the divorce process.

Many are couples with children, but they still find the best solution for their marital problem is divorce. Many were once very loving couples but still, at some points, they had chosen to divorce.

If a woman is financially stable and independent, at least, she can still support herself and her children.

Pity those women who fully depend on her husband for full financial support. It would be tough for her to go on her life smoothly, at least during the transition period.

5. To provide financial support for our parents, family members or loved ones

I am sure we all face a situation where our parents or a family member are in an emergency and need some financial support.

Though our family didn’t request our financial help, I believe automatically, we would extend our helping hands because they are our family members.

If we have our own income, it would not be a problem for us to help our family members when they are in need. If we are not financially independent, we might have to ask our partners for financial support. Maybe he would be happy to help or maybe he would be reluctant to help.

Besides, being financially independent also allow us to become a guarantor to our partners and family members. But, make sure you know the checklist before you agree to become a guarantor.

Final thoughts

I am a woman myself and I wish every woman to be financially independent because we are special species. I hope my sharing on why women need to be financially independent is beneficial to you.