To think every woman should have at least £20,000 in savings she can access independently?

What, to secretly rent and furnish a property without telling your spouse so that said spouse can't beat the shit out of you any more?

It may well be, but I would take the risk in that situation, wouldn't you?!

Your comment is hugely unrealistic.

That would be lovely, but totally an unrealistic number for huge numbers of people in the uk. Lots of people (I am one of them!) have no savings to there name.
In the event some rich long lost aunt or something of mine, died and I got 20k, I would be very uncomfortable saving that for myself and a what if situation, when I could put it towards things we need now.

I don't think you're being unreasonable at all OP, although the amount would be high for many.

My mum had been a single mum, so it was always drummed into me that a woman should be able to support herself and she should have some 'quiet' savings.

When I started working, I started by putting $10 per week into an account I never mentioned. It was a 'just in case' fund. Over time, after pay rises, I'd very slowly increased the amount to $25 per week, then once the kids were older, $50 per week.

Eventually this 'quiet fund' hit 50K (AUD not pounds). By this time, we had passed our 34th anniversary and it was looking like I wasn't suddenly going to need an exit plan. I used the money to buy a small investment property. This year we will have our 39th anniversary and at some point in the next five years I'll sell and use the money to boost our retirement.

To those saying 20K is unrealistic, it really can seem that way at the start, it does all depend on the timeframe. But even $10 a week for a couple of years could help with a bond and the first month's rent if you ever needed to start afresh in an emergency. I'd hope that most relationships wouldn't show cracks too quickly, but over a few years, that $10-20 a week could come in very handy. Hopefully it won't be something you ever need desperately, but it helps to have it.

You should be so lucky.

All I get is crappy cheap wine and manky chocolates (I don't eat sweets !)

My lovely grandma once said to me every woman should have access to her own savings. Something many years after her death and stuck with me.

😂😂😂😂😂😂

That's about my annual income

Ah-ha !
That is true, but I also think it's illegal ?

I guess someone who is getting 8k as a nice bonus, is already financially not too bad. I got a £50 gift card one christmas from one of my jobs...

I think you're right that the money would be counted as marital assets if the couple were to divorce.

But, if like my friend, you end up having to secretly plot an escape from an abusive relationship prior to any talk of a divorce, then a separate savings account can be invaluable.

I'm on disability benefits. I have anything more than 6k my benefits get deducted and at 16k they stop. I do have two savings plans -one will mature next year - but I can't have over 20k in the bank and I can't afford to save that at this point anyway

As I understand it it, doesn't matter a monkey's coconut if a married women has 20 grand or 20p in savings.
In the event of a divorce he gets half anyway as it is classed as a "matrimonial asset".
( I'm just hoping a Family Law Solicitor will be along soon to tell me I am mistaken) 🤔

Yanbu. I think everyone, women and men should have a decent amount of savings that they can access independently. But it's not always possible for everyone to save that much.

What in the ragebait is this?

just something I’ve always been told and wondered how others see it. @AmusedPlumMember

Always told by whom?

Do you have your own opinion on this?

I think it's important for women to develop critical thinking, emotional intelligence and not care about the opinions of others.

Oh another thing for most of us to fail at. How put if touch can you be

But this is how people get into trouble.

Why don’t you have your own accounts?

What if DH runs off with another woman?
What if he has a MH breakdown and believes you’re the devil and runs off with all of the money or becomes violent?

Everyone thinks that they don’t need separate accounts, until they do.

No one gets married thinking that they need an escape plan but look how many do.

Another wealth “tone deaf” post.
Yes, in an ideal world everyone would have access to an emergency 20,000 in the real world, well it’s a dream for many.

I agree with you that financial independence is important.

I agree.
Shall I give you my PayPal details? Cheers.

Presumably, if you are disabled you will be able to claim PIP and other benefits?

Makes sense. I have this but took years and years to save it up.

i do always wonder on the escape fund idea, how do they get hidden? When applying for a mortgage or rent you literally have to share and there are credit reports on all accounts.

I think you would be surprised at how many people don't have £20K to put in their pot though, guessing you've never met anyone claiming benefits or using the local food bank.

Yes, wouldn’t it be lovely. How is it possible for all women?!