For most of history, women have been associated with a love of purses over an ability to control the purse strings. In fact, The Guardian reports that American women didn’t win the right to a “separate economy” until 1844 – and only married women in Maine initially received it. By 2016, though, it should be fashionable for women to make their own money. Why? Because you can gain more than a bump in your bank account when you start bringing home your own paychecks.
Think back to your childhood and ask yourself, “What sounded like a lot of money?” Five dollars? Ten dollars? And “one million” was just a fun catchphrase to say when adults asked the price of your favorite stuffed animal. The fact is that money is subjective; five dollars for a cup of coffee may seem cheap to a New Yorker, but exorbitant to a Texas college student. Earning your own money gives you a yardstick with which to gauge purchases. By considering how many hours of work it would take to pay for that iced vanilla latte, women not only make smarter economic choices, they also appreciate the value of their purchases.
Paying for items with your own, hard-earned money can also prevent shopper’s guilt over “splurges.” Yes, those red pumps may not have been necessary. Yes, you would have survived without buying an exotic dragonfruit at the grocery store “just to try.” (Any other fiscally responsible foodies out there?) But when you consider how many hours of work your splurges will cost, splurges can be responsible. Money earned plus a financially aware mindset and perhaps a little extra money to spend equals no guilt necessary!
A 2015 survey by SunTrust Bank found that 35 percent of relationship stress stems from arguments over money. The cold truth is that opposites may attract – but if people have opposite views on money (like being a “spender” vs. a “saver”), a romantic relationship will be that much harder. If you make your own money, though, everyone wins. Your partner can save or spend his or her money while you do the same with yours. Even non-romantic relationships can benefit from a woman earning her own salary. After all, how many parents want to give an allowance to their 30-year-old daughter?
This last May, San Diego Rep presented the feminist play, “Rapture, Blister, Burn.” Halfway through, the wife and husband characters admit they both want a divorce – but fear the financial ramifications. The wife, Gwen, never finished college and doesn’t work so she feels stuck. Gwen represents a possible fate for many nonworking women: relying on someone else for money can limit one’s escape route if the relationship sours. This relationship could be between lovers, parents, and offspring, or even friends. In effect, making your own money could allow you to focus on the people in your relationships (instead of their checkbooks).
Many young adults don’t start working until their first year of college. After watching the bank account jump for the first time, though, most are hooked. It’s empowering to realize that you can control your own financial status and shape your own financial independence. Women love to throw around the catchphrase, “I don’t need no man” in terms of a romantic partner, but this can also be true economically. When women make their own money, they pave their own futures. Women, or the efforts they produce, are literally worth something – and their paycheck proves it.
