The first key is to have enough emergency fund. Being single has its benefit which is loads of freedom, but the flip side is that it lacks a teammate. You can lose your job, so you need to have enough rainy-day fund.
That should be the second. The first and foremost should be financial literacy. Only this way, a person can be empowered and truly independent. Independence comes in different levels including finance, emotion, intellect, and spiritual life. Among them, finance is the foundation. Thus, financial literacy is a key to anyone’s independence.
There are many free resources of financial literacy out there. Make sure to check out the trustworthy ones. I’ve listed some created by the government and reputable organizations here.
The most danger happens when a women became single after divorce or passing of her spouse who was managing the household finance. Suddenly, it becomes very scary to face the complicated financial world all by one’s own. Get help from people you trust is the key. Besides, it is never too late to educate yourself on financial literacy. At least you know what questions to ask when you seek help. At the beginning, it feels very daunting especially after such big loss in your life. One might find strength and hope from the learning process because progress builds confidence no matter how small it is.
Mariah Carrey’s song “Hero” comes to my mind.
Look inside you and be strong
And you’ll finally see the truth
That a hero lies in you
Worthfy Financial Literacy Counselling 