Why every woman deserves a freedom fund
I was recently interviewed by Red Magazine’s Caroline Bloor about the idea of a “freedom fund” and why I think it matters, especially for women. The conversation has stayed with me because it goes beyond pounds and pence. It’s really about choice, dignity and the ability to steer your own life when circumstances change. You can read the article here.
What I mean by a freedom fund
A freedom fund is a ring-fenced pot of money that buys you options. Yes, it can help you exit something harmful or unsustainable - a job that’s burning you out, a relationship that’s no longer safe, a living situation that’s become precarious. But it’s also the pot that lets you say yes to an opportunity you’d otherwise have to pass up. Time to retrain, or take time out to travel. Reducing your hours at work to recover your health. Seed money to test a small business idea without panic.
In my coaching, I often talk about the freedom to choose. Money doesn’t guarantee happiness, but a buffer gives you the breathing space to make decisions from a calm, values-led place rather than from fear.
Why this is especially relevant for women
It’s easy to forget how recent our financial autonomy is. Within living memory, women in the UK couldn’t easily open bank accounts or access credit in their own names. That legacy can show up as self-limiting beliefs about money – I hear them often in coaching rooms. Beliefs like I’m not good with money, planning is pointless or I shouldn’t need my own pot. Naming those stories is powerful because you can choose a different one. I see it all the time – once a woman begins building her own financial base, confidence grows and the story shifts to I can create options for myself.
Freedom fund vs emergency fund
Think of two pots with different jobs.
- Emergency fund - covers essential outgoings when life throws a curveball. For many people that’s 3 to 6 months of core bills, depending on your commitments.
- Freedom fund - covers the cost of change. That might be a career pivot, time out to study, a move, or the practical costs of leaving a situation.
A simple way to size your freedom fund is to add up what change would cost you in real life, subtract any resources already available to you, and use the gap as your target. Keep it realistic and phased – you can build it in layers rather than all at once.
Where to keep it
Accessibility matters. This is money you may need quickly and predictably, so a separate easy-access savings account usually beats locking it away or investing it in something that could dip just when you need it. Separating it from your day-to-day account reduces the temptation to nibble at it.
How to start building it when life is already busy and expensive
This is where behaviour trumps willpower. A few strategies my clients find helpful:
- Automate the first step - set up a standing order for payday, even if it’s small. You can always increase it later.
- Name the account - call it Freedom Fund in your banking app. A clear label keeps the intention front and centre.
- Use tiny levers - switch on round-ups or “save the change”, sell one unused item each month, funnel windfalls straight to the pot.
- Make values-based swaps - choose one weekly spend to replace with a lower-cost option that still meets the need. You’re not depriving yourself – you’re buying choices.
- Try discovery-pause-response - when you feel the impulse to spend, notice it, pause for a breath, then choose the response that serves your longer-term goal. That pause is where power lives.
If you’re in a couple
Financial interdependence and personal autonomy can happily coexist. I like the yours-mine-ours approach – shared money for shared life, plus individual pots that preserve agency. A freedom fund isn’t about secrecy. It’s about knowing you could stand on your own feet if you needed to, which often strengthens rather than threatens healthy relationships.
Common hurdles I see in coaching
- All-or-nothing thinking - if I can’t save thousands, why bother. Start with tens. Momentum compounds.
- Perfectionism - waiting for the perfect plan delays the first transfer. Make the first version small and imperfect.
- Guilt - feeling you “shouldn’t need” your own pot. Reframe it as self-respect and good stewardship.
- Leaky buckets - money slips away unnoticed. A quick monthly sweep of subscriptions and quiet spend can free up more than you expect.
Three small actions you can take this week
- Work out your core monthly essentials and set a first target for your emergency fund.
- Name one change you’d like the option to make within the next 12 months and sketch the rough cost. That’s your freedom fund brief.
- Open or rename a separate easy-access account and automate a small amount into it on payday.
As I shared with Red Magazine, this isn’t about hoarding money for the sake of it. It’s about creating room to breathe, room to think and room to choose. If you’d like support to map out what your version of freedom looks like – and a practical plan to get there at your pace – I’d love to help. Get in touch and we can explore it together.
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