Woman: Have your own money (2)

Dear Women,

Last week, we talked about the crucial “why” behind having your own money—independence, security, confidence, and equality. But let’s dive even deeper, because the impact of financial autonomy stretches far beyond your immediate circumstances. It’s about building a life on your own terms and shaping a better future for those who come after you.

Consider the power of breaking ‘generational cycles’. Many people grew up in households where financial discussions were taboo, or where women were primarily seen as caregivers, not breadwinners or financial decision-makers. By taking control of your money, you’re not just changing your own narrative; you’re setting a powerful example for your daughters, nieces, and younger women in your life. You’re showing them that financial literacy isn’t just for men, or for a select few. It’s for them. You’re equipping them with the knowledge and the aspiration to be financially strong from an early age, creating a ripple effect that can truly transform families and communities over generations.

Then there’s the incredible freedom to define your own success. Society often paints a picture of what a “successful” life looks like for women, sometimes tied to external validations or traditional roles. But with your own money, you have the liberty to pursue passions, pivot careers, or even create a lifestyle that doesn’t fit the conventional mold. Maybe success for you means less stress and more time with family, even if it means earning less. Maybe it means investing in a passion project that might not generate immediate income but brings you immense joy. Your financial autonomy gives you the leverage to chase what truly fulfills you, rather than being dictated by monetary necessity alone.

And let’s touch upon a sensitive but vital point: avoiding financial abuse. This is a dark reality for too many women. Financial abuse can manifest in many ways—from a partner controlling all the money, preventing you from working, or making you ask for every penny, to running up debts in your name. Having your own financial resources, separate and accessible, is your most crucial defense against such control. It gives you the immediate means to leave an unhealthy or dangerous situation, to secure legal counsel, or to simply have a safe haven. It’s a lifeline that no woman should ever be without.

Your money also empowers you to contribute meaningfully to the world. Beyond your personal needs, imagine the impact you can make by supporting causes you deeply care about, investing in other women’s businesses, or simply being able to help a loved one in need without straining your own survival. Philanthropy, at any scale, becomes a possibility when you have your financial house in order. It’s about extending your influence and making a tangible difference in areas that resonate with your values.

So, how do we get there? It starts with small, consistent steps. Educate yourself: Read books, listen to podcasts, and take online courses about personal finance. Budget: Know where your money is going. Save: Even small amounts add up. Invest: Learn about compound interest and how to make your money work for you. Don’t be intimidated; there are countless resources available.

This isn’t about becoming a millionaire overnight (though, hey, if that happens, fantastic!). It’s about building a resilient, empowered version of yourself. It’s about having choices, security, and the unwavering belief in your own capabilities.

Keep learning, keep earning, and keep building that financial fortress around yourself. Your future, and the future of the women around you, depends on it.

Until next week, remain financially capable!

READ ALSO: “The financially independent woman: Navigating love, money, and relationships”