I am a huge proponent of financial independence. If you have built up reserves, you have more choice in how you shape your life. When you’re in debt or spend your entire paycheck every month, you’re dependent on your paycheck or your business. If you make less profit for a month with your company or the company you are employed for goes bankrupt or you are fired, you will immediately be in trouble. But even if these things don’t happen to you and you’re unhappy with your job or your business, you still have a problem. You are 100% dependent on your income if you spend everything. That is why I think it is super important to get your finances in order and to ensure that you get a lot of freedom back.

Never work again

It is very difficult to save up for so much freedom (money) that you never have to work again. My personal goal is exactly that, and I write about that here. Then you are completely free to organize your time as you wish. But one step before that is that you are free to quit your job if you are unhappy about it. Then you can take a job that earns less without getting into trouble. Or if due to circumstances (for example a pandemic) you can get by for a few months with a lot less income. Or that you can stand on your own two feet if you live together and decide to separate.

Shared household

Many couples arrange their finances, especially if it concerns a family with children. By running a household together you can save a lot. So you only have the rent or mortgage once and groceries together is relatively cheaper than for one person. Municipal tax, water, gas, etc. are also relatively cheaper if you live together.

Girl Boss!

To maintain your own freedom, it is extra important that you do not lean on your partner. Even if you are super in love, you never know what the future will bring. Make sure you can stand on your own two feet, even if you may not be doing that right now. When shit hits the fan, it is important that you can stand on your own two feet and leave if necessary. For example, make sure you have your own emergency fund that you (alone) can access or that you can quickly work more hours at your job so that you can support yourself if necessary. Nothing is more oppressive than staying together out of financial need.

No partner? Then it is at least as important, if not even more important, that you do not wait Mr. Perfect to come and rescue you. Save, invest and plan your financial future so that you don’t have to depend on a partner (or a job!). Someone who is financially independent and actively planning his/her own future is super sexy! Is your partner intimidated by your independence? Afraid that if you’re not dependent, you might just run away? Then that might not be the right candidate… You’re not together for the money, are you?! If you want to read more about financial independence for woman, buy this book!

Financial independence

In the Netherlands and other western countries it is perfectly possible to become financially independent. At least independent enough that it is possible to provide for one’s own livelihood. The woman in the Netherlands earn more or less the same as the man and should therefore also be able to be financially independent from her partner. That is different in some countries. In some countries, women’s wages are so low that it barely covers the commute. Of course, this will not make it possible to build up independence. Fortunately, women here earn enough to build up financial independence. So do that too, our grandmothers fought hard for that privilage.

In short: Build your own financial independence and thereby increase your freedom.

How can you best do that? By focusing on three things:

– Get more income from your job or other sources.

– Spend less than you earn.

– Investing the difference so that that money also works for you.

This way you build up a freedom buffer.

Simply put, not so easily done but you can do it! I believe in you!!

Untill next time,

Elske

I am not a Financial advisor nor am I your financial advisor. I am not a trained financial professional. This blog is for entertainment purposes only.