Why Financial Independence Matters to Me

I moved to the U.S. at the age of 18 to enroll in a four-year college. The first day of school, all the American kids in my dorm had their parents help them move their gazillion belongings into their rooms. As I did all the unpacking myself (all my stuff fit into two suitcases) and took a bus to Target to buy some supplies, I realized I will always have to stand on my own feet in this new country.

I Have Fewer Support Systems

As a minority immigrant, you have fewer support systems.

My parents and most of my friends are still living in Asia. With the expensive airfare, I can only afford to see them once a year.

As college graduation approached, many of my classmates moved in with their parents so they could live rent-free while looking for a job. Meanwhile, international students like me had no such luxury. That’s why I spent at least 20 hours per week in my senior year applying and interviewing for jobs so that I could graduate with something in hand.

It’s still scary for me to even think of unemployment. Despite paying Social Security taxes, I will not be eligible to collect unemployment benefits until I have a green card. I have to be financially independent because I know I have less to fall back on should things go wrong.  

A Better Life for My Children

Coming from a developing country, I saw first hand how things seen as luxuries where I grew up are only average for an American standard of living.

One simple example is the car. Where I grew up, only rich people have cars. Most ride small mopeds to get around and do things normal people do. I was surprised to see the average American family has 2-3 cars. I also have many friends whose family of 5 live in small, two-bedroom apartments rather than the typical 3-bedroom house with a backyard in America.

When I fell in love with my current American fiance, even though I am naturally frugal, I knew I’d hate to deprive our children of things considered middle class in the U.S. Being able to maintain a modest, middle-class lifestyle for my children with just one income became my financial goal, since we all know divorce rates are extremely high.

The motivation to provide for my family can be extremely powerful. Even when I have the occasional urge to relax and splurge, it encourages me to make money and continue to live frugally everyday.      

More Time With Family

As my parents get older, it’s difficult to only be able to see them once a year. We are also living far away from many of my fiance’s family and friends.

As time goes by, I can only see that we’ll want to spend more time with family so that we don’t miss out on special moments. At the end of the day, nobody regrets not working enough on their deathbed, but everybody wishes they’d been around family more.  

I have put myself on a journey towards Financial Independence by 40 years old so that my schedule will not have to be tied to a rigid 9-to-5 schedule with only two weeks of vacation per year. I hope to accomplish this by supplementing my full-time salary with side hustles and freelancing.

Conclusion

While it’s still common for men to be breadwinners around the world, women are having many more opportunities nowadays to become financially independent. As an Asian immigrant woman, I have to survive on my own and have learned not to use my background to lower my ambition.

I truly hope that many women consider financial independence a real possibility and actively pursue it. True equality begins with economic equality.
This has been a guest post from Elise at Little Seeds of Wealth. You can find a collection of International Women’s Day posts over a Femme Frugality’s website. She was totally awesome and organized this guest post exchange!