Friday, December 19, 2014

5 Reasons Why Women Need To Be Financially Independent

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 practicing. Though maybe some women prefer to take some years off their busy schedule to concentrate on their young family members and return to the workforce later.

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 more prone to health issue
Compare to men, women are more prone to health issue. This is because our body organ is far more complex and complicated, for example our reproductive system. More organ involved and higher possibilities of serious health issue. 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 longer life span
Based on Malaysia statistics, the average life span for Malaysian man is 72.6 and for Malaysian woman is 77.2. This shows that on average, Malaysian woman life is 4.6 years longer than Malaysian man. So, woman need to be more prepared for a longer life span.

3) To ensure continuous financial support for our children
I believe all mother want the best for her children. And most mothers also understand her children's needs better. Especially during younger years, most mother would like to give the best for her children - the best childcare center, the newest and coolest toy, the best school, and many more. All these need money. If the father can provide basic needs, then with the salary earned, the mother can provide additional special support for this children.

4) To avoid financial havoc if there is major marital problem
We know, it is always something out of our expectation. It has been too often, we hear who and who 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, they had to choose to divorce. If a woman is financially stable and independent, at least, she can still support herself and her children. Pity those woman who fully depend on her husband for full financial support. It would be tough for her to go on her life smoothly, at least for certain period of time.

5) To provide financial support for our parents, family members or loved ones
I am sure we all face the situation where our parents or family member in emergency and needed some financial support. Though our family didn't request for our financial help, but I believe automatically, we would will 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 needs. If we have to ask our partners for the financial support, maybe he would be happy to help or maybe he would be a bit reluctant to help.

I am a woman myself and I wish every woman to be financially independent because we are special species.

photo credit: Tax Credits via photopin cc

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