Independent and Financially Strong
Long gone are the days when women relied upon men to be the sole breadwinners in the household. These days, doors have not only opened to allow women to attend college and pursue any career they choose, but women are competing at every level and becoming leaders on the world stage.
You’ve probably heard the saying “with great power comes great responsibility”, and when you have the power to forge your own path, the buck stops with you, especially where your finances are concerned. As a single woman, you answer to no one, which means you can dine out every night if you want or buy that pair of blingy Louboutin boots you’ve had your eyes on.
The trick, of course, is ensuring that these expenditures don’t cut into your rent money, and that your spending habits don’t leave you grappling with crushing debt or limited retirement funds down the line. Living single and financially strong means creating a plan for savings and investments that ensure comfort, stability, and independence for life, even if you couple up and have a family down the line (or skip the coupling and just have kids – whatever suits your preferences).
Why is it so important to get your financial ducks in a row as a single, strong, and independent woman? Here are a few reasons why smart saving and investing are essential.
You Need Security
None of us wants to wake up one day and realize we’ll be working into our 80s because we failed to plan for retirement. Financial security is not something men need or women need – it’s something everyone needs. It’s especially important to focus on creating a sound financial future when you’re single since you just don’t know if you’ll have the financial support network a partnership can provide. Don’t forget, some partnerships can also drain your resources, and with good planning, you can avoid this outcome, as well.
You Have Goals
Are you paying down college loans or looking to extend your education? Maybe a home and family are on your agenda in the next 5-10 years. Perhaps you’re already thinking about traveling the world when you retire. Starting early with savings and investments can help you to minimize debt, maximize returns, and reach your financial goals, whatever they may be.
Because You Can
The very best reason to create a solid plan for saving and investing your hard-earned money is because you can! There is still an antiquated notion that women aren’t good with numbers or they don’t have a head for investing. This is completely untrue. Both men and women have wants and needs, and none of us are getting any younger. Whether you have a partner or you’re a single adult, you need to make wise financial decisions that help you to reach your personal goals and ensure you enjoy a comfortable retirement.
If you’re smart enough to earn money, you’re certainly smart enough to learn how to manage it, so don’t let outdated stereotypes hold you back – you’re the only one who’s going to suffer as a result. You can save, you can invest, and you CAN make your money work harder for you. With help from a financial planning partner that takes the time to understand your goals and preference in order to offer the best options and advice, you’ll get the full potential from every dollar you invest.
Are you looking for a financial planning and money management service that understands your needs and has the expertise to help you pursue your goals? The qualified professionals at Women’s Financial Network can offer the guidance and services you need to make prudent decisions about your finances.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.