Going it alone: I am my own best partner towards a lifetime of financial security
~ Saturday, May 4, 2024 Blog Post ~
For most of my life, I have been single and at this stage, I realized I don’t feel bothered at all. After all, I have accomplished much in my life by going it alone and I am surely proud and delighted with myself for succeeding in achieving whatever I want to achieve.
My parents raised me and my older as independent women. This reality is partly the reason why I never felt the need or urgency to have a boyfriend or husband. Several men entered my life and prospects of long-term romantic relationships and marriages were on the horizon, yet none resulted in me becoming a Mrs. Be that as it may, again, I don’t feel bothered at all. Personality-wise, I am a self-reliant and self-sufficient millennial.
Above all, I have chronic trust issues. It is challenging for me to trust anybody, most especially with my accomplished and contented life and my financial stability. Additionally, I find it unimaginable to rely on a boyfriend or husband financially. To wit, I am independent and have achieved many of my personal and financial goals on my own.
I encountered an article yesterday titled, “Couples’ Financial Goals: Planning for the Future.” Reading it gave me the idea for this reaction article. My viewpoint is that, considering my independent personality, I can be financially successful even without a man by my side.
From a single millennial’s perspective, here is my reaction or response to that article:
1. I am proudly a savings and investing superstar.
Even without a boyfriend, long-term partner, or husband, I can pledge to myself to save diligently for a new house, a dream vacation, and a comfortable retirement. My financial life as a single millennial is about building my financial future through aggressive saving and investing and I can certainly make it on my own.
2. I embark on investment adventures by myself.
As an unmarried and single lady, I can dive into the world of investments, bonds, and stocks. I have learned and grown financially on my own and based on my own terms. I have found excitement in this personal endeavor similar to other kinds of life adventures!
3. I am my own budgeting buddy.
I have mastered the art of budgeting by myself through regularly reading personal finance articles, e-books, and other informative resources and having this financially enriching habit as my interesting hobby. Being single, I am the only person who has a say in my financial decisions and this fact has enabled me to more easily stay on track.
4. I can do estate planning alone.
Even without a partner by my side, I can plan for the unexpected. I can craft my will and talk about my wishes which ensures my original family’s well-being.
5. I can engage in debt demolition even without a partner by my side.
I am a deadbeat credit cardholder and am proud to share that, as much as possible, I settle my monthly bills one month early. Even if I’m debt-free, I am confident to remark that I can tackle debt obligations without having to join forces with a partner. Moreover, I can clear my financial path which allows me to look forward to a more secure financial future for myself.
6. I envision retirement realities by myself.
I can visualize my golden years alone even without having a boyfriend or husband to discuss my retirement dreams with. My personal situation motivates me to make many smart financial choices.
7. I can be on a financial date night on my own.
Making financial discussions with myself can be fun even without the themed financial date nights couples can engage in. I am a teetotaler and I do not want to have a glass of wine to go with my balanced budget.
8. I ensure that I have insurance integrity.
I can evaluate my insurance needs on my own. Since I am unmarried and without children, I do not think there is a need for me to have life insurance. Anyhow, I can secure my future on my own by protecting myself against unanticipated setbacks.
9. I can fulfill my homeownership dreams.
I can aim for my dream home by myself. Whether it is my first-ever house or an upgrade, it will be a sole investment in my future.
10. Being childless by choice, I do not have a college fund commitment.
Since I chose not to have children, there is no need for me to save for any child’s education. The investments I have made are for my future.
11. I can look for side hustles if I want to even without a partner.
I am a single female millennial and I explore entrepreneurial ventures on my own. If I am interested, I can begin a side business which can further boost my financial prospects.
12. I am a one-woman tax-planning tag team.
I can optimize the taxes I pay for, and saving on taxes translates to more money for my personal goals which I have opted not to share with anyone.
13. I deal with emergency fund essentials on my own.
With my long-term financial writing career, I can build my own safety net even without having a husband or boyfriend by my side. I am financially ready for unexpected events and this fact brings me peace of mind.
14. I regularly boost my financial literacy by taking part in educational personal finance and investment webinars.
I can learn about personal finance and finance even on my own and not being on a team with a partner. In this case, the knowledge I share is an investment in myself.
15. I have achieved financial fitness alone.
Being astute in terms of personal finance, I have always been financially healthy. After all, I conduct regular checkups on my finances to aid me in achieving my life goals.
16. I can choose to invest with a professional if I want to.
I have not availed of any investment specialists’ consultancy services yet. Nonetheless, my regular participation in personal finance and investment-themed webinars since 2017 has helped me set up my prosperous financial future. I have learned from experts about bonds and stock market investing and consider myself a lifelong personal finance and investment student.
17. I deal with real estate revelations on my own.
I surely can explore real estate investments on my own. I understand that this type of investment asset can be a pathway to my further financial growth.
18. I can effectively tackle credit score challenges by myself.
I can improve my credit score alone. In fact, I have achieved a higher credit score and this impressive feat has opened doors to financial opportunities for myself.
19. I relish the benefits of being a frugal cost-cutter.
I have long discovered and understood frugal living’s joys. Indeed, finding happiness in simplicity contributes to my financial robustness.
20. I can and have proudly attained many money milestones alone.
I have achieved many money milestones in my life, and I am certainly proud of myself because of this significant accomplishment. I celebrate my financial achievements by myself or with my family members. Of course, I also acknowledge my progress and this reality has kept me motivated to consistently strive for financial security.
21. I enjoy keeping a financial goals journal.
Being a personal finance journalist, I love writing and I have always kept a journal. In this record, I take note of my aspirations and reinforce my commitment to my financial future which I have chosen not to share with anybody.
22. Stock market success is always on the horizon for me.
As a knowledgeable and keen millennial investor, I follow local and international financial markets. I watch my investments grow and this enriching activity is surely a rewarding journey, personal finance-wise.
23. I can do financial workouts by myself.
Even if I am not coupled with a boyfriend or husband, I know and have set financial goals for myself. Achieving these targets is a testament to my being a one-woman team.
24. I am uninterested in cryptocurrency conversations but I can engage in it if I want to.
Cryptocurrency can be an interesting investment asset for couples. However, being a conservative investor, I am uninterested in investing in this new finance frontier.
25. I keep net worth notes for myself.
I track my financial growth by myself. In this activity, I get to witness my net worth rise, which is surely an encouraging experience.
26. With my personal finance acumen, I can always achieve my debt-free dreams.
I can work towards a debt-free future for myself. Constantly living a life without financial burdens is my primary objective.
27. I think about my financial legacy on my own.
I do not have anyone to discuss inheritance and legacy planning with except my original family. With these people who are the nearest and dearest to me, I can ensure a smooth transition for my niece and the succeeding generations, which is a testament to my family.
28. If I want to engage in charitable giving, I will do it.
I can certainly make a difference by myself. If I would be willing, I can donate to causes I care about. Many people think philanthropic activities are rewarding in plenty of ways. Charitable giving is not a part of my financial planning endeavors since it does not appeal to me. Nonetheless, I am well aware that my community is a great place to give back or allocate a portion of my wealth.
29. I have a clear financial future picture in my mind.
Being a single millennial, I always envision my financial future as wealthier and prosperous than my financial present. I have set clear goals and work towards them which is a testament to my commitment to achieving an flourishing future for myself.
My motivation to be my own financial partner towards a financially secure future
I decided to be my own financial partner because I find it challenging to be in a marriage or a long-term romantic relationship, considering my trust issues. I am also well aware that relationships involve financial strain and disputes.
I gathered from a CNBC report that 35 percent of a SunTrust Bank Survey’s respondents blame finances for the stress they experience in their relationships. Additionally, in this same study, 3 in 5 people have thought about waiting to get married. In this manner, these poll participants cited that they would not take on their partner’s debt.
Furthermore, I learned from the CNBC report that over half of the SunTrust Bank Survey respondents, or 54 percent, even said that their partner being in debt was a major reason they considered divorce.
The study above cemented in me the fact that, if ever I do decide to marry, I need to secure a lucid understanding of my partner’s financial liabilities before I commit to a lifetime of forever with him. I surely cannot — and WILL NEVER — make a lifetime financial agreement with someone who is badly in debt.
I am well aware that communication about money is necessary for safeguarding oneself and one’s marriage. Based on the results of a Ramsey Solutions research, nearly half, or 54 percent of the respondents, relayed they have a satisfying marriage involving daily and weekly financial talks with their spouse.
This percentage is unlike the less than one-third of the survey participants who declared that their marriage was “OK or in crisis.” Moreover, 94 percent of the Ramsey Solutions study participants who affirmed they were happy with their marriage also pointed out that they discuss their money dreams with their spouse.
These situations are idyllic, yet I am still not convinced. It would be challenging to persuade me to marry or be in a lifelong relationship. After all, I refuse to be in a dire situation in which I would fight about finances with my husband or long-term partner.
Finances are one of the most common issues couples have arguments about. A Ramsey Solutions poll confirmed that money was, in fact, the number one problem married people disagree about. This same study found that the more debt married couples have, the more possible it was the setback they would fight about.
I do not want to deal with myself being married and incurring my spouse’s debts which will highly likely be a shared responsibility, depending on my location’s laws. I may engage in pre-marital financial sessions if I marry, as well as craft common personal finance goals and engage in healthy money conversations, but I still opt not to settle down for good. After all, I always want a good night’s sleep. Additionally, long-term relationships and marriages are not a walk in the park. Therefore, I have chosen not to invest much of my precious time, money, and attention in them.
Being a keen investor, I have no other interest than to invest and grow my hard-earned funds. I actively seek investment opportunities. Furthermore, I am enthusiastic about managing my investment portfolio. I am always on the lookout for techniques to grow my wealth through various financial instruments like real estate or stocks.
Being single has facilitated me to achieve my financial goals more effortlessly than if I were in a relationship or married. After all, I am free to do as I please. I can actively participate in local investment clubs. Additionally, I can manage my investment portfolio of shares, re-invest my earned interest or dividends when I believe it is appropriate, and so forth.
Being unmarried and childless lets me concentrate on my financial well-being quite well, which is an enduring and strong relationship’s cornerstone. Even without a partner, I can embark on my own journey to financial security, and I think it is hassle-free since every decision regarding my dreams and retirement emanates from me and only me.
Not being on a team with a husband or boyfriend enables me to achieve my financial targets and make sure I forever live a comfortable life and with a secure financial future. Financial planning does not always have to be a shared activity. Single women like myself can do it alone. I can deal with my own frugal lifestyle, engage in smart investments, and know how to plan for and manage financial uncertainties all for my benefit.
References:
https://www.amazon.com/Single-Women-Money-Live-Income-ebook/dp/B09FZX6SQC
https://www.instagram.com/simplyfinanceph/p/C3WcBhlv6BC/
https://www.msn.com/en-ph/news/other/couples-financial-goals-planning-for-the-future/ss-AA1jd0M1
