I’ve become a fierce advocate of financial independence. The latest statistics show that the female employment rate today is 72%, the highest it has ever been, while the gender pay gap remains stubbornly high at 15.4%. It’s clear women are becoming a powerful labour force to be reckoned with. But what’s the point in having these rights if we’re not in control of our money?
If we outsource financial decision-making to others, keep ourselves in the dark about smart money management or rely on spending as emotional therapy, we give up the chance to choose. For me, that’s what feminism is ultimately about: having the chance to choose work, relationships, living arrangements, and a way of life that allows us to flourish.
The latest statistics show that the female employment rate today is 72%, the highest it has ever been, while the gender pay gap remains stubbornly high at 15.4%.
So, my definition of financial independence is the following: the ability to govern your own finances in a way that enhances your own interests, both now and in the future. The question is: How do we develop that ability? Well, it might require a change in mindset as well as some practical strategies. It won’t be easy to break certain habits, and you might have to make some difficult decisions along the way.
But the time, effort, and manageable amounts of money you need to invest in cultivating financial independence will reap huge rewards in the long run. You’ll feel wiser, calmer, full of positivity about the future, and better able to support the people you love. Here are my tips for Bustle on how to pursue financial independence.