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    Why Single Ladies Can’t Afford a Single Income

    1. giulia

      July 1st, 2016 at 1:27 pm

      Also if it is nasty it is absolutely true and the fact there is still salary gap between man and women that doesn’t help…

    2. Stefanie

      July 1st, 2016 at 1:29 pm

      Yes, and important to understand that the consequences of the pay gap are greater than what’s on the paycheck. It impacts retirement readiness too!

    3. Natalie @ Financegirl

      July 1st, 2016 at 2:43 pm

      I am so thankful for what I’ve learned over the last three years. Starting my blog and becoming a financial planner has changed my personal life. I literally think about how I want to get a prenup because I plan on making so much money that I don’t want my husband to automatically get if something were to happen. Five years ago, I would’ve been thinking about how someone else can take care of me. It’s incredibly empowering to learn how to take care of yourself financially. I think every young woman owes it to herself.

    4. Stefanie

      July 1st, 2016 at 2:45 pm

      Agreed, it’s not just increased earning capacity you get by being single throughout your 20s, it’s also more financial maturity.

    5. Tiffani

      September 16th, 2016 at 7:48 pm

      BRAVO. I appreciate this post by Stefanie and will start reading your blog as well. Cheers, ladies!

    6. Stefanie

      September 16th, 2016 at 7:50 pm

      So glad you enjoyed it Tiffani!

    7. Mel @ brokeGIRLrich

      July 1st, 2016 at 5:12 pm

      Ugh, how depressing! But definitely a valid wake up call. I’m shocked by how screwed so many of my friends would be if they lost their jobs.

    8. Stefanie

      July 1st, 2016 at 6:37 pm

      Yeah, I think that’s probably true for the majority of people I know, which is kind of crazy after everything we’ve been through post-recession. While the side hustle has definitely gained traction, I’m shocked it’s not more widespread when we all know things can change in an instant.

    9. Kristin Wong

      July 1st, 2016 at 6:02 pm

      That breakdown on the premium one pays for being single is fascinating. $1,000,000+? Crazy.
      Forbes had some article the other day on building a six figure freelancing business, and it basically said that the standard full-time job is becoming a thing of the past, and freelancing/independent contracting is becoming a more lucrative, secure avenue. So I think that supports the idea that multiple streams are more of a necessity than a luxury. The market is changing, and that can be a really good thing if you learn to adapt!

    10. Stefanie

      July 1st, 2016 at 6:36 pm

      Did you read the full analysis on the price of being single in the Atlantic? It was fascinating. I’m very interested to see what kind of future lies ahead, not only as more people fall outside the norm of the traditional family unit, but also as we see more people subsisting on freelance and self-employment. Being both single and self-employed, I find the lack of understanding and infrastructure to support how I live is infuriating.

    11. Tonya@Budget and the Beach

      July 2nd, 2016 at 3:01 pm

      I’m going to play the devil’s advocate here. I’ve been single MOST of my adult life and have lived in mostly expensive cities. I’m 45 and had 7 years where I wasn’t contributing anything to retirement, and in fact I was losing money. And I’m still on track to save enough for retirement. While there are good points to be made, I don’t think we necessarily need to go running for the hills. The data is based in so many factors, lifestyle being one of them. I think it’s great we do have unlimited earning potential now and if we can explore that and fit that into our life, then that is great, but on the flip side is a lot of burnout and not taking care of ourselves. In any case, I just wouldn’t hit the panic button. Do the smart things when you can, obviously, and definitely learn to negotiate and ask for a raise or find a better job for yourself when you can, but don’t panic! 🙂

    12. Stefanie

      July 2nd, 2016 at 3:08 pm

      So much I agree with, but I also think your savvy is an exception. The stats on average retirement savings (for everyone, married or single) are really disheartening, and even basic savings to cover emergencies are largely insufficient. Between that, the new job market, longer lifespans and the evolving retirement landscape, I think diversity of income is becoming more critical than ever.

    13. Millennial Moola

      July 4th, 2016 at 4:49 am

      I’ve had some fascinating conversations with my girlfriend and her friends who are all graduating from surgical training. As new doctors almost none of them had negotiated their starting salary. I was totally stunned and asked them why because every male in finance I knew would have been aggressive about negotiating. They said they felt bad, didn’t want to lose the job, wanted to show they could perform well first, etc. Did some more research and there’s a major difference in men and women when it comes to comfort in negotiating raises, higher starting salaries, etc. Hopefully women can be empowered to ask for what they’re worth and not what their employers give them

    14. Stefanie

      July 4th, 2016 at 1:46 pm

      Absolutely. SO important to negotiate that first salary because it anchors earnings going forward!

    15. Financial Samurai

      July 7th, 2016 at 8:05 am

      Good message for women! And also single men. Start saving and investing early on. Even a 1% difference compounded over 10-20 years can make huge returns!


    16. Stefanie

      July 7th, 2016 at 12:18 pm

      Agreed. These messages apply across genders and even marital status.

    17. Tess Wicks

      July 7th, 2016 at 11:27 pm

      Salary negotiations and retirement… two of my favorite subjects and the hardest to do confidently and fully understand. Thanks for bringing the facts to light, Stefanie! It’s time to get that baseline up and start saving for our old, fabulous, retired selves! 😉

    18. Stefanie

      July 7th, 2016 at 11:38 pm

      Love it! They’re my favorite topics too – we’re such geeks 🙂

    19. The Roamer

      July 10th, 2016 at 2:12 am

      Great post Stefanie.

      Something I wouldn’t have thought of for myself but I frequently think about for my single sister. Amusingly it wasn’t because of the money…. it was more the fact that she doesn’t have kids so has time to side hustle… she stopped and I ask myself why she would…. but your post makes a better case for it then. Me just saying you should do it because you have the time.

    20. Stefanie

      July 10th, 2016 at 2:18 am

      Gotta make the most of that free time 🙂

    21. The Top Personal Finance Blog Posts of 2016... So Far | Debt Free Guys™

      March 8th, 2019 at 3:03 pm

      […] Stefanie O’connell – Why Single Ladies Can’t Afford a Single Income […]

    22. Jennifer Harper

      March 19th, 2019 at 2:40 am

      I don’t usually agree 100% with people, but I must say I totally agree with everything you wrote in this post, and the infographic is super useful, thanks

    23. Stefanie

      March 27th, 2019 at 2:55 pm

      Thank you!!

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