Female Breadwinners on the Rise: Trends, Issues, and Tips

“Who run the world? Girls!” This line from Beyonce’s 2011 hit song, Run the World (Girls), aptly describes the female domination that we’re seeing in society these days. Whether it’s politics, business, sports, technology, you name it – women have an important part to play in these areas.

One of those roles is that of a breadwinner who’s in charge of supporting their family. More and more women from all over the world have embraced the role as the family’s primary provider and head of household.

For example, the U.S. Census Bureau found that American mothers contribute roughly $1 trillion to the U.S. economy as a result of a changing workforce, where 47% are women employees. Female single parents, as well as women living with a partner but have no kids, also form a big part of the population who register the largest take-home pay for their respective families.

It’s also interesting to note that there seems to be a pattern affecting the phenomenal rise of female breadwinners across nations. In places where their male counterparts suffer from underemployment or unemployment, women step up to become the family’s sole or main income provider.

Gender equality is another reason that we now have more female breadwinners. It used to be that there are jobs or industries that were reserved only for men, but that has changed to include women in critical job roles, including senior management positions. The increase in women’s earning power has paved the way for them to become family breadwinners.

With their newfound breadwinner status, women find themselves dealing with issues concerning their family’s finances and other responsibilities. The infographic below helps you visualize the different factors that surround female breadwinners’ rise to the top of the household and global economies.


From Homemaker to Breadwinner

In the past, majority of women stayed at home to take care of the household. But, most of that is now history. Today, you’ll find a large number of women working outside of the house and receiving a monthly salary.

Not only that, but statistical data from various researches and studies show that women are taking on the role as primary breadwinner in the family, although there are also cases when they’re sharing the responsibility with other members of the household.

Moreover, you can see this shift in women’s role – from homemaker or housewife to breadwinner – happening all over the world. It’s a global phenomenon that says a lot about how much women have achieved in the workplace and in the communities where they belong.

In the Philippines, the number of women working in private households, government-controlled corporations, private companies, and family-operated businesses has already reached millions. In fact, a 2002 report from the International Labor Organization (ILO) noted that in other countries, it’s the men who generally put in more hours at work. By contrast, the ILO found the Philippines to be a case of “global exception,” where women executives work in the office longer than the males, apparently driven by their desire to earn more money for their family.

At the same time, there’s a lot more pressure on working women’s shoulders. It’s certainly not easy to balance their role as the main income provider of the family while trying to perform well at work.

No wonder, one of the challenges that female breadwinners are experiencing in the workplace is gender inequality. Even though some women are given a chance to occupy important positions in their company, a lot of them are still lagging behind their male counterparts when it comes to compensation.

Thus, it’s not common for women to choose to remain single instead of settling down to start their own family. They’ll be able to maximize their earnings without having to think of their children’s future education, for example.

As for female breadwinners who decide to get married, they might find it harder to see the importance of how long-term financial planning can benefit their family. For one, they’re living a hectic life, so they may not have the time or energy to sit down and look at the overall picture of the family’s finances. In addition, they might be more concerned about settling the more immediate and pressing expenses within the household, so they’re unable to put financial planning in their list of priorities.

Financial Tips for Female Breadwinners

Whether you’re a single or married female breadwinner, you can adopt the following steps to help you improve the finances of your family.

1. Set up a budget and stick to it.

A budget will enable you to keep track of where your money is going. If you come up short on your earnings, tweak some areas in your budget so it will still fit your needs.

Important! Your budget should include a savings portion, which is anywhere from 5% to 20% of your salary.

2. Ask for a raise.

Check career websites to find out the average compensation of employees in your industry. Compare this with what you’re earning, assess your contribution to your company, and negotiate with your boss.

3. Consider switching to a higher paying job.

If you don’t see yourself growing financially in your current work, it might be time to start looking somewhere else. Aim for a 15% salary increase than what you’re getting in your next job.

4. Look for other sources of income.

There are one hundred and one ways you can earn on the side without undercutting yourself. You can take on freelance work on a part-time or project basis, sell things online, become a sales agent, and more. If you’re into cooking, baking, or arts and crafts, you can monetize your hobby by selling your finished products to friends or colleagues.

5. Check where you can reduce your monthly bills.

There might be things that you’re paying for but don’t really need, such as video streaming services that you only get to enjoy on weekends. If you wish to keep them, at least go for a low-tier subscription rather than a premium one.

6. Fine-tune your financial strategy.

There may be times when you have to take out a loan for your cash needs. Be disciplined enough not to borrow more than what you need or not to let your loans pile up on you, so you don’t get buried deep in debt.

7. Get life

Life insurance can protect you and your family from uneventful situations by providing coverage for critical illness, disability, or premature death. Make sure you know and understand what’s included and what’s not in your insurance package.

8. Save for retirement.

When it comes to retirement, there’s no such thing as saving too early, saving too late, or saving too little. By putting money toward a retirement plan, you can live a comfortable life even when you’re no longer earning.

Celebrating the Rise of Female Breadwinners

Female breadwinners mean business. They are out there working and earning well, so they’ll have money to contribute toward the household income. Yet, despite their increased financial capabilities, it’s normal for them to encounter financial difficulties along the way.

Thankfully, Cashalo offers a personal loan in the Philippines. Cashalo’s online lending services is a solution to female breadwinners like you who are in need of extra cash or who are having financial problems. Depending on your credit history with Cashalo, you can choose how much you wish to borrow to recover from your money challenges and put your finances back in order.