Why you need a FU account (Financial Uprising)

The first time I read about this concept was in an article on Ellevest.   It described the importance of the independence the account represents. By having one, a person could have the funds needed to walk away from a toxic relationship or leave a job that clearly is headed nowhere you’re interested in going - or better yet, isn’t providing the stepping stones required to advance your career. The F*ck You account (the moniker given by Ellevest) was your ‘drop the mic’ moment where you put up two fingers and announce, “Douces”. You’re out. 

Ironically, I was reading this article shortly after having moved out of the house my, then, husband and I had just bought the year before. It was the start of our separation and I had driven up the coast between Los Angeles and Santa Barbara looking for tide pools to photograph. It was my ‘anxiety reduction’ activity to connect with nature and ‘get out of my head’ considering all that was happening in my life at the time.  The concept of preparing yourself financially for an alternative future seemed obvious once becoming aware of it, but it was definitely an eye opener. 

Planning for the ‘unplanned’ is never a pleasant activity. It’s the task that constantly gets pushed to the back of all the other tasks as we pile more tasks in front of it. To plan for the unplanned means you’ve lost your optimism that the relationship you’re committed to or the job you’ve spent so many hours of invested energy might not pan out. And that feels like you’re riding in the carriage with one foot out the door ready to jump at a moment’s notice, as my cousin used to say. But the reality is to not plan is to be naive that life doesn’t evolve. And maybe sometimes it is you and not them. And that realization requires a change - and money.

Let’s dissect the difference between not having the money to leave and having the money to make that

change. If you are in a committed relationship and your spouse/partner’s income is the primary earner, finding the resources to create a FU account will require some creativity and patience. While you may be managing the finances, their income is paying the majority of the household expenses. Therefore you will need to find ways to set money aside to build this fund. Pay yourself a small ‘salary’ each month so not everything is going to the greater good of ‘us’ and some is now earmarked the greater good of ‘you’. Another option is to pick up some side gigs. If at any point during the relationship you begin to experience whatever differences may occur or you’ve decided the relationship is no longer supporting your needs and it is time to move on, that separation will be more than emotionally challenging if you don’t have the means to either move in with a supportive family member/friend or move out on your own.  

Photo credit: Samson Katt

It reminds me of an episode in Everyone Hates Chris where Rochelle and Julius  (Chris’ parents) are having a discussion about paying a bill. She pulls out a secret stash and gives it to him to help bridge whatever shortfall they were experiencing that month. When Julius asks her where the money came from, she explains how she had been setting funds aside little by little just in case of an emergency. The point being - even if you’re not working or only earning a little from a side job, be sure to set some money aside for your own personal emergency use. Although in this case Rochelle used the funds for the family, her method of operation is the point I’m trying to make here. 

Alternatively, if you are also working and have the financial means to create an emergency savings account but instead have been concentrating on keeping up with the latest online fashion trends or don’t have control over other excessive spending habits then you might find yourself stuck in an unhappy situation for longer than desired. Thus struggling with the emotional stress that comes from remaining in a relationship well past its expiration in addition to now realizing you’re stuck financially. Moving on costs money. There are security deposits, movers, new furniture (because inevitably there is always something that gets left behind, i.e. bed, couch, kitchen table, TV, etc.), dishes, towels, sheets, lamps - and let’s not get started on the candles! This is why it’s important to keep your credit in good standing to help shoulder some of the burden until you’re fully back on your feet as the solo driver. Again, if you don’t already have this money saved, it could take months if not years to get to a point when the financial leap can be made if you haven’t planned ahead. 

Now, let’s take a similar glance at what the scenario could look like if you were prepared and need to make a change in your career. Let’s say you have been working for the same company for about 5 years and you realize that promotion with the higher income doesn’t appear to be coming your way anytime soon. However, you realize that with an advanced degree or certification, more doors could be opened. Over the past few years you’ve put in the effort to keep your finances in order, haven’t over spent on credit cards, and in addition to having a 6-month emergency savings in place you have also been stashing some money aside for big picture dreams and goals - of which includes advanced education costs. This puts you in a perfect position to take classes over the next year or two to earn that advanced education which will allow you to seek new employment at the higher level you deserve. The expectation would also be that the new job or career path should reimburse the cost of the education over time. 

Photo credit: Pixabay

Twirling the name of the ‘FU’ account around in my head didn’t completely sit with me. While the purpose was obvious it still seemed too harsh for some reason. This is why I’ve renamed it ‘Financial Uprising’. To me, this represents more self-empowerment and less finger pointing. Making a change should be about what differences and improvements you want to encounter in your life and less about how wrong someone else’s circumstances are. The focus and the energy exuded shifts towards you and less on them. In the end, it really is about you.