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Aneth Ng-Lim

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/women money pants edited.jpg" style="width:960px" class="fr-fic fr-dib" alt="Artwork created using Muse AI "/><span class="fr-inner" style="text-align:left"><span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><em>Artwork created using Muse AI</em></span><em> </em></span></span></span></div><p>It’s officially women’s month and at this time of year, we celebrate the singular achievements of Filipinas here and abroad.</p><p>Right around the corner, we will also mark International Women’s Day on March 8, a global milestone devoted not just to toasting the achievements of women but also seeking gender equality in all four corners of the globe.</p><p>While these are all grand plans and campaigns, at the end of the day, what matters is how all these impact the daily life of girls and women everywhere.  Are we given more choices?  Rights to make decisions?  Independence where and when needed?</p><p>One of the areas where this is important is money. Financial independence can mean many things but for girls and women, it’s mostly about having the means to get the things you need and want, with no strings attached.  You may think that it gets easier as one gets older, but as women with partners will tell you, it can actually get messier.</p><p>So I went and asked married women in my circle, who can boast of hard-earned money lessons, on why it matters who wears the money pants at home.</p><div style="text-align:center"><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="950" height="534" src="https://www.youtube.com/embed/-X5uNMZUIRk?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span>Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" id="isPasted" style="color:rgb(60, 151, 255)" target="_blank">iWantTFC.com</a>. Watch hundreds of Pinoy shows, movies, live sports and news.</div><div><strong>Who brings home the bacon?</strong></div><p>When Cely was planning her wedding to the oldest son of a Chinese family, she was told many times to quit working after they got married.  She did not agree, but she also did not disagree, as she was thinking she would quit when she got pregnant.  But the more she interacted with her in-laws, and even shortly after the wedding, she realized she needed to keep her job and have her own money.</p><p>“Sadly, they use money as a tool to control the people around them – from their siblings to their children and also the in-laws.  If I became financially dependent on them too, I would be paying a painful price mentally.  My in-laws were clearly wearing the money pants in their home and my husband and I needed to set boundaries.  One way to do that is to have our own source of income,” Cely shared.</p><div><strong>Who makes more bacon?</strong></div><p>It’s also not just about having income, but who brings home more income.</p><p>Anne and her husband both used to work, but when she started earning more, she took on more and more of the financial responsibilities until she realized she was already wearing the money pants at home.</p><p>“He would ask me to cover more expenses, involved me in most decisions, and in some cases even left them to me to handle.  At some point, I decided I will take on the role more responsibly, and turn it into not just about who pays for what, but also managing our money future (and mine!) and ensuring we (and me) have enough for our (and my) golden years.”  </p><div style="text-align:center"><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="950" height="534" src="https://www.youtube.com/embed/yRb7jeadzuQ?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span>Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" id="isPasted" style="color:rgb(60, 151, 255)" target="_blank">iWantTFC.com</a>. Watch hundreds of Pinoy shows, movies, live sports and news.</div><div><strong>Who has more Money Sense? </strong></div><p>Andy quit his job and stayed home for the kids when his wife moved up the corporate ladder and her salary doubled.  With her as the sole breadwinner, you would think that she now wears the money pants at home but that role remained with Andy.</p><p>“I like managing people and being part of the corporate world, both of which Andy doesn’t.  But between us, he is more disciplined with money.  He makes a budget, sticks to it, follows a saving plan, knows how to balance risks and rewards when we invest, so I am grateful we both found what we like doing, and can keep doing them.  And while he technically is our family money manager, we have shared responsibilities that make it not just about me or him, but about us.”</p><div><strong>Take baby steps for your financial independence</strong></div><p>Regardless of who wears the money pants at home, there are steps you can take to make sure you will be financially independent.  Start by having your own savings.  Most families have pooled resources but it’s good to also have one that’s all yours.  You can decide to later share that with your partner or your kids, but having your money can be empowering.</p><p>This may sound crass but make sure your family’s income is protected by having enough insurance.  If the husband is the sole breadwinner, then go and get him insured.  You can all sleep better at night knowing that if anything unplanned happens, your family will be able to stand on its feet financially.</p><p>And then build your own income.  If you are working then good for you.  If not, you can look for ways to get “paid” even from home.  Try to monetize the work you do for the family or for friends.  Or see if there are online jobs with flexible working hours that can earn you some money.  Having your own savings and money flowing to your wallet are a great start to wearing your money pants.</p><div><a href="https://news.abs-cbn.com/blogs/business/03/07/22/this-womens-month-take-time-for-self-care" id="isPasted">This Women’s Month, take time to care for yourself</a></div><div><a href="https://news.abs-cbn.com/blogs/business/03/21/22/support-female-owned-businesses-this-womens-month" id="isPasted">Support female-owned businesses this Women’s Month</a></div>

<p>Financial independence can mean many things but for girls and women, it’s mostly about having the means to get the things you need and want, with no strings attached.</p>

Financial independence can mean many things but for girls and women, it’s mostly about having the means to get the things you need and want, with no strings attached.

Why financial independence and money sense are important for women

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Why financial independence and money sense are important for women

Aneth Ng-Lim

Published Mar 06, 2024 03:31 PM PHT

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Updated May 28, 2024 04:20 PM PHT

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