It is very important for both partners to work towards financial independence, even if one partner earns more than the other or if one partner takes on more financial responsibilities in the relationship.
According to Evolution Financial Planning, you should have a plan in place and be aiming for some degree of financial independence before committing to a relationship. To have the confidence that your finances are in order and to have access to your own money, as and when you need it, will take a big weight off your shoulders and you will never have to worry about being financially trapped in a relationship.
Being financially independent in a relationship is important for several reasons:
- It promotes equality: When both partners are financially independent, it helps to ensure that each partner is contributing equally to the relationship. This helps to prevent one partner from feeling like they are carrying the entire financial burden of the relationship.
- It reduces stress: Financial stress is one of the leading causes of relationship problems. When both partners are financially independent, it helps to reduce the stress associated with money issues.
- It allows for personal growth: When individuals are financially independent, they are able to pursue their own goals and dreams without relying on their partner for financial support. This promotes personal growth and a sense of fulfilment outside of the relationship.
- It provides a safety net: Being financially independent means that if the relationship were to end, both partners would have the means to support themselves. This can provide a sense of security and peace of mind.
