Unfortunately, women still earn less on average than men, they take longer career breaks to bring up children and they work part-time more often. So much for the facts. Nevertheless, it is also possible for us to stand on our own two feet financially - if we follow a few financial tips, make provisions in good time and know where we can get support and help in case of doubt.

Stiftung Warentest has published the guidebook "Finanzplaner Frauen" (160 pages, 19.90 euros) to help women get through all phases of life safely and without worries. Here we find various helpful and practical money tips on how to get what we are entitled to in a wide variety of situations. Because even if we are currently in a relationship or marriage and are doing well financially, this can change very quickly due to an unexpected separation, job loss, a relative in need of care or the birth of a child.

The "Financial Planner for Women" describes many issues using understandable case studies and is therefore a great help for all of us. We have compiled some of the most important financial tips and advice from the experts at Stiftung Warentest for you here. It's best to see for yourself where you find yourself.

Separation: be protected if love breaks down

In a long-term partnership, finances are usually a joint affair. How to avoid losing out if you split up.

• Joint purchases & savings contracts: Are you unsure what you are entitled to? Don't be afraid to seek advice from a lawyer.
• Pension equalization: To ensure that it is fair, you should definitely seek advice from the statutory pension fund. If in doubt, consult a lawyer here too.
• Get an overview: Compare your old and new income and expenditure situation.
• Relocation: When you move out: Remember all personal documents - such as marriage certificate, insurance documents, savings books and bank statements.
• Maintenance: Divorced women may be entitled to post-marital maintenance, but this is usually limited in time.
• Insurance cover: Be sure to check and, if necessary, reorganize, e.g. with your own health and liability insurance.

Single parent: making the right provisions

You have at least one child that you are raising alone and you are working. However, because of raising and caring for the child, a full-time job is not an option for you at the moment or in the near future.

• Maintenance: If the child's father does not pay, you can apply for an advance on maintenance payments. The youth welfare office is usually responsible for this. If you receive Hartz IV benefits, the Job Center is your point of contact.
• Funding options: Find out about housing benefit and child supplement from the youth welfare office or other family advice centers.
• Tax class: Apply to the tax office for tax class II for single parents. This will give you a higher net salary.
• Tax allowance: Have this entered in your income tax data for childcare and travel costs to work. This will increase your net salary once again.
• Child allowance: Seek advice when filing your tax return, don't just assume that it's best to have half the child allowance and half the childcare allowance transferred from your ex. This is not always the best option.
• Working more? Before you increase your working hours, find out what the net effect will be for you. Will the higher earnings mean a reduction in current social benefits such as child supplement or housing benefit?
• Time off work: If your children are ill, as a single parent you are entitled to up to 20 days of unpaid time off work per year and child and a maximum of 50 days of child sick pay as compensation.

Salary negotiations: Get what you deserve

Finally have the courage: if you want more money, a lot is a matter of negotiation. Good preparation is the most important prerequisite for convincing your boss or supervisor in the interview.

• Get active: Do you want a pay rise? Then try to talk to your boss yourself. You are not entitled to an automatic salary increase if your employer is not covered by a collective agreement.
• Preparation: Think about arguments for the salary increase. This could be a successfully completed project or additional tasks you have taken on. It can also be helpful to know what your colleagues earn.
• Gift: instead of money If you can't get a salary increase, you can at least negotiate certain benefits in kind with your employer, such as a monthly bus and train ticket, a childcare allowance or a new cell phone that you would otherwise have bought yourself.
• Mini-job: If you don't have enough money and still don't want to rely on state support, an additional mini-job on a 450-euro basis could be suitable. However, it is important that you inform your main employer of this.
• Seasonal work: In addition to your main job, seasonal work can be interesting. If this is limited to three months at a time or a maximum of 70 working days per year from the outset, you can earn as much as you want during this time without having to pay social security contributions on these earnings.

Investing money: This is important

Several studies show: Women are more security-conscious than men when it comes to creating a financial cushion. They tend to invest in funds rather than riskier products such as shares or warrants.

• Overview: Before a consultation at the bank, you should think carefully about where you want to go: What do you want to achieve with your investment and when? What risk are you prepared to take? Bank savings plans and fixed-term deposit accounts are safe - but earn little more than moderate interest. You could achieve significantly higher returns in the long term with a share fund - but this also increases the risk.
• Financial check: How much money could you actually put aside each month? Do you need the money in the foreseeable future, or can you do without it in the longer term?
• Healthy distrust: Under no circumstances should you rely solely on the bank advisor to offer you the right solution. Ask for a detailed breakdown of the costs for each investment tip and always ask about the sales commission that the advisor or bank receives for it.
• Don't rush: You don't have to decide on an investment right away. Take the time you need and ask questions if you don't understand something. If in doubt, stay away from offers that you don't understand.

Patchwork family: mastering the challenge

You are moving in with your new partner. Both he and you have children that you are bringing into your new home together. Everything is new - including the financial situation.

• Overview: New household, new income situation: Take the time to get an overview of your income and expenditure. Clarify which of you can and should pay what.
• Lower net salary: Plan for the fact that your net salary will be slightly lower now that you are no longer a single parent and will therefore lose the favorable tax class II.
• Wedding: Find out about the advantages of getting married: you will save on taxes and have better legal protection.
• New savings opportunities: Now that you no longer have to cope with all everyday expenses on your own, you may be able to put more aside - for yourself (retirement provision) or your children (education), for example.
• Maintenance: Even if you are now living with your new partner, the biological father is still obliged to pay maintenance for the children.
• Custody: If you and your ex have joint custody, this does not change. Your new partner can have a say in day-to-day matters if you and your ex allow him to do so by power of attorney.
• Update insurance policies: Who should decide for you in an emergency? Who should now be the beneficiary of your life insurance?

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