Financial independence means that you have enough money set aside so that you don’t have to worry about paying bills at the end of each month or having enough money for emergencies. It also means that when things go wrong—like when someone in your family gets sick or injured—you aren’t reliant on someone else for help paying for medical bills or other expenses related to caregiving.
Why is it important?
The importance of being financially independent as a woman in Nigeria is invaluable. If a woman is not financially stable, she cannot be independent. It is important to note that financial independence is different from financial stability.
Financial stability means that one has enough finances to meet the basic needs of life while financial independence means being able to generate income and manage it effectively without relying on others’ support.
Financial independence isn’t about having enough money to retire on or even about being able to afford things like a house or a car. It is about having the ability to make your own choices in life and then live with them.
Here are a few reasons why financial independence is important:
It may sound like a cliché, but it’s true, money doesn’t buy happiness. The truth is that money can help you buy things that make you happy—like a house or a car or even just a nice meal out with friends—but it won’t make you happy on its own. You have to be happy first in order for money to make any difference at all.
Financially independence is a key part of being a woman in Nigeria. Being able to support yourself and your family means that you can be the master of your own destiny, and not beholden to anyone else’s rules or schedule. It means that if you want to take time off from work, or change careers, or move across the country—you can do it!
Being financially independent is also an important part of being an adult in general. The world is full of people who will tell you what to do (and when), and it’s easy to get swept up in other people’s expectations for your life. But when you’re financially independent, you can make decisions based on what makes sense for you and your family, not on what other people think should happen.
It also allows you to support others who may not have the same opportunities as you do. If you’ve got a job and a home and money in the bank, then that means there’s someone out there who doesn’t have those things—and they might need help getting them!
When you’re financially independent, you’ve got everything under control!
How can you achieve financial independence?
Financial independence can be achieved through several ways such as owning businesses, having multiple streams of income or simply working hard and saving up for rainy days. It is important to note that achieving financial independence does not mean that you will never have to work again but rather you will have the power to choose what type of work you do and with whom you do it.
In Nigeria, women have a lot to deal with. From the constant threat of violence and harassment to the economic penalties of living in a country where there are few opportunities for them. But when you add financial insecurity on top of that? It’s almost too much to bear.
But luckily, there are ways to become financially independent—and we’re here to help!
Here are Four things that women can do to get started:
Know your worth
If you don’t know how much money you should be earning for your work, then it’s time to get educated! Find out what other people in similar positions are earning, and then make sure that when you negotiate your salary with your employer, you’re being compensated fairly for all of your hard work.
Start saving money
You can put it into a savings account or other investment vehicle so that you’ll be ready when it comes time to invest in yourself or your future business ideas!
Keep track of all expenses
It is essential that you know exactly where your money is going. This will help keep you on track as well as give you an idea of how much money you need each month or year so that you don’t go overboard spending frivolously on things.
Don’t be afraid to ask for help
You may have heard the saying “it takes a village,” but sometimes we forget just how true those words can be when it comes to managing our finances. No matter what kind of help or advice you need—whether it be financial planning or budgeting techniques—there are professionals out there who can give it to you!
Finally, remember that no one can do this alone! Always reach out if something feels wrong or unfair; don’t let things go unchecked because nobody else will notice if they aren’t affecting them personally.
Enjoyed reading this? Then you would love these👇👇