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Women are at a disadvantage when it comes to our financial literacy. The 2020 TIAA Institute-GFLEC Personal Finance Index found that 49% of women surveyed answered questions about personal finance correctly, compared to 56% of men. We especially struggle with comprehending risk and uncertainty, and so much of money management (especially planning for an uncertain future) deals with these skills.

To make matters worse, when we couple up, we’re often encouraged to combine finances with our partners and give up financial autonomy. Not having job skills, the ability to manage your own money, or access to a great checking account of your own can be a real problem if your relationship ends and you’re left without the financial support of a partner.

And if the relationship turns abusive, you could find yourself a victim of financial abuse — the National Network to End Domestic Violence found that financial abuse occurs in 99% of domestic violence cases.

In short, building financial independence is the best money move you can make as a woman. Let’s take a closer look at how you can do just that.

How to create a life no break-up can take from you

Your life is your own — here’s what to focus on to make sure you’re not left high and dry when a relationship ends or if you find yourself in an abusive situation.

Save and invest on your own

You should absolutely open your own savings and investment accounts to ensure your future is secure. And you have so many excellent options. One of the top-rated high-yield savings accounts can help you beat inflation and keep your emergency fund liquid.

And the best stock brokers offer investing accounts with low fees, useful mobile apps, and the ability to buy stock shares (even fractional shares), index funds, and more.

Build a career

Invest in yourself by pursuing education and building a career you can be proud of and that will let you cover your expenses and (ideally) save money for your future. This doesn’t have to be expensive, by the way — you can access free or low-cost learning opportunities on the internet, such as via LinkedIn Learning. Look for networking opportunities, like industry conferences, and make connections with people in roles you aspire to.

And don’t forget to research salaries to ensure you’re being paid fairly. The gender pay gap is still alive and well, and as of 2022, American women were still earning an average of $0.82 per $1 earned by a man. Don’t be afraid to change jobs or even careers to advance your life.

Learn as much as you can about personal finance

Good news: you’re already in the right place for this. We cover the money topics that impact your life here at The Ascent, and we review bank accounts, credit cards, and financial products of all kinds.

Consider speaking with a financial advisor if you need some help with budgeting, investing, or any of the minutiae of managing money. Meeting with a Certified Financial Planner™ when I was struggling with my finances was one of the best decisions I’ve ever made.

A caveat

None of this is to say that you should never combine any part of your financial life with a partner.

Let’s face it: Living in America is expensive, and as someone who happily lives alone, I recognize that my own existence would be cheaper if I was splitting my housing costs, auto insurance premium, and cellphone service plan with someone else.

That said, after two divorces, knowing that my finances are now independent of anyone else’s and my mortgage is in my name alone helps me sleep better at night.

I do highly recommend making the above moves, and only partly combining finances with another person. This could look like maintaining your own checking, savings, and investment accounts, but also opening a joint checking account that you can both deposit money into to cover shared bills.

Don’t let the fog of romance and the promise of “forever” lure you into giving up control of your own earnings and financial fortunes. Life turns on a dime, abusers charm you into letting your guard down, and even if your relationship is perfect now, you never know what the future holds. Protect yourself.

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