The days of women relying on men to be the breadwinners are moving further and further behind us. Today, many women are either a joint breadwinner or the sole earner, with more responsibility when it comes to their family’s finances. Outside of the family setting, women have their own independent finances, with more disposable income than ever before. While this is a great development for women, are they using it to their full advantage?

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There is a growing feeling that being in a relationship can put women into a more precarious financial situation. In the UK, the Guardian reported that women, particularly older women, were left vulnerable in marriage and long-term relationships as they may have put their careers on the back-burner while creating a home and raising children. Younger women are wising up to this and are putting marriage off until a later age when they are in a more secure financial position. Meanwhile, others are now actively seeking a prenuptial agreement that will help ensure they are left financially secure if the marriage were to come to an end. This increasing savviness from young women means that they will be left in a far better position than that of previous generations if they were to divorce.

While women are earning more and thinking more wisely about safeguarding their financial futures, they are still not using their positions to their full advantage. In 2015, the FINRA Investor Education Foundation's 2015 National Financial Capability Study (NFCS) found that women investors lacked confidence in their investment decisions compared to male investors, with just 38% of women feeling comfortable making decision. By educating themselves about investments, women can make the most of their finances and begin investing for their futures.

It’s never too late to start thinking about your financial future. Starting by making a list of achievable financial goals can help put you on the path to security. Making a plan to pay off your debts, to gather savings or to start a fund for something in particular will help you to take charge of your money and put it to good use.

When it comes to discussing assets with your partner, there’s no harm in having legal agreements put in place to secure your share if something were to go wrong. Family lawyers like Hipskind & McAninch, LLC, can help you take care of this. Knowing where you stand and what you need to do to establish financial security is important, so make sure you seek advice before making any large commitments like a house or marriage.

With financial security never a certainty, it’s important that you take control now so that you can make a plan for the future. Avoiding common money mistakes is one way to keep a firmer grip on your finances and will help you to make wiser decisions when it comes to your earnings. Start thinking about your financial future now by taking charge of your finances today.