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It may feel like one step forward and two steps back at times, but women are always strong enough to fight for our rights.

Key Point

• In a world where women earn $0.82 for every dollar men earn, we have a responsibility to demand more.
• Financial knowledge equals independence.

As we celebrate Women’s Equality Day, we pay tribute to the sacrifices women have made. Women fought for everything from the right to inherit property to the right to vote. It’s up to us to remember where we are and how far we have to go.

And because money represents power in this country, we must captain our own financial vessel. Here are his five moves to get you started.

1. Know your worth

Women earn $0.82 for every $1 men earn. However, here’s the problem. The fact that the world doesn’t treat us as if we’re worth as much as men doesn’t make it true.

Many of us have been led to believe that we must be “ladylike”. Being ladylike meant not expressing one’s opinion or demanding equal pay for equal work. Some of us have internalized the belief that our contributions are not as important as men.

The first power move you can make is to know your worth. Stop thinking “lucky” that someone hired you and start thinking about all the things you contribute to the job. Do men around you earn more for the same jobs? Do men routinely get promoted to management positions more than women?

If so, it’s time to make your case. Make a list of everything you do for your employer and how you add value to the company. Then, be bold enough to ask for a raise based on your contributions.

The saying “fortune favors the bold” applies here. It’s up to you to be bold enough to defend yourself.

2. Make your voice sound at home

If you live with your partner and they are in control of the household, you have a say. Your partner may have been waiting for you to take over some of her financial planning responsibilities. But even if you live with someone who jealously defends their right to control money, it’s important that you participate.

If you broke up with your partner or your partner passed away before you, you need the know-how necessary to make sound financial decisions. The best way to gain know-how is through practice.

It may sound bleak, but there’s another reason to make your opinion count at home. According to the National Domestic Violence Coalition (NCADV), his 94% to his 99% of domestic violence survivors were also victims of financial abuse. One of her characteristics of financial abuse is when one partner controls all the money in the household and holds that power over the other.

Even in the healthiest relationship imaginable, sharing decision-making duties is good.

3. Maintain a separate bank account

There is nothing wrong with merging your finances when you build your life with others. There are some pretty compelling reasons to keep an account with.

A separate bank account provides a sense of financial independence. You may not control everything in your world, but the decisions regarding that account are yours alone.

You don’t have to “ask permission” to make small purchases. Using a separate account will save you time arguing over silly things like the cost of your coffee.

Separate accounts are also useful for practical purposes. Let’s say you haven’t been with your spouse or partner for a long time. You may want to maintain control over the funds you bring into the relationship.

On the other hand, if you are in debt and working to pay it off, your partner may appreciate a separate account because you are putting your financial home in order.

4. Negotiate

Are you paying an annual fee for a credit card you’ve used for years? Contact your credit card company and ask about a discount. If you were a good customer, we might consider your request. If you’re paying a lot for auto or homeowners insurance, shop around. If you find a better deal, give your current insurer a chance to match it.

5. Trust yourself and invest

Fidelity’s 2021 Women and Investing Survey found that only 33% of women consider themselves investors and only 42 feel confident in their ability to save for the future. % . If so, now is the time to take bold risks. Don’t fall for the idea that men are better investors than women. While it is true that men generally take on more risk, women consistently earn higher returns.

Whether you read an investment book, take a course, or work with a financial advisor to learn more, the more you learn, the more likely you are to take risks. And when it comes to investing, the risks can pay off.

Women’s Equality Day celebrates more than just the ability to make money. It shows how we do everything from feeding our families to running our country.