“Mom, I am a rich man” became an iconic reply by American singer Cher to her mom when she was told to settle down and marry a rich man.
It’s a short sentence with a powerful message that women don’t need to depend on anyone and applies to all women irrespective of their relationship status, whether they are single, married, widow, or separated.
Many women don’t feel the need to earn because they are already financially strong, thanks to their fathers or husbands. But what we fail to realize is that when a woman earns, she brings a lot more to the table than just the money, and that is why it becomes crucial for women to be financially independent even if they are already well-off. So, women earn your own money.
5 Reasons Why Women Should Earn Their Own Money
1. Personal Impact
A woman who earns is empowered with equity and equality. Like an earning male member of the family, she too becomes opinionated, makes more informed decisions, and holds power to say no. Her worth is elevated, and she establishes dignity and financial equality for herself. Moreover, women who earn tend to be less depressed and have better mental health than others.
2. Financial Literacy
It’s rightly said, with great power comes great responsibility. Financial independence, too, brings the responsibility of managing your hard-earned money. You learn about personal finance, portfolio building, various saving and investments methods, and can plan your future on your terms.
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3. Great Role Models
A lot of parents are hesitant to pay for their girl’s higher education because they perceive spending on higher education as an expense. This stems from the mindset that women opt out of the workforce after getting married or after having kids. So, if you earn your own money as a married woman, you motivate other parents to not think twice before investing in their girl child’s education. Also, daughters of working women tend to earn significantly more than daughters of stay-at-home moms.
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4. Social Impact
Being a financially independent woman makes you a torchbearer of progressive society with lesser gender biases. It empowers not only you but encourages other women to understand their self-worth, stop perceiving themselves as liability, take charge of their lives and ensure their financial wellbeing.
5. Getting Out of Abusive Relationships
Instances of domestic violence and alcoholic husbands are not uncommon. Women are forced to compromise and live with injustice because they rely on their husbands or in-laws for food and shelter. But being financially independent eliminates this dependency and gives them the freedom to choose the life they want. Working women are safer and more resilient.
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6. Supporting the Family
As inflation is setting new records every year, it becomes crucial to have multiple sources of income to maintain the desired lifestyle. Furthermore, having multiple income sources serve as a backup plan at times of crisis, as seen during the pandemic.
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Conclusion: Women, earn your own money
Being financially secure challenges you to expand your social and personal horizons. From being a receiver, a woman becomes a giver if she is financially independent. As Priyanka Chopra once said in her interview, “Financial independence is paramount. No matter where you go in life or who you get married to, you have to be financially independent – whether you use it or not.”
So, earn your own money (even if you don’t need it).
