October 18, 2024, 11:12 am | Read time: 4 minutes
Actress Mimi Fiedler has made herself scarce in recent months. Now, however, the 49-year-old speaks openly about the financial and emotional strain she went through after her separation from film producer Otto Steiner. It wasn’t just the pain of the break-up that affected her, but also the sudden realization that she was left without financial security.
Mimi Fiedler and Otto Steiner, who married in 2019, separated in November 2023 after six years together. In hindsight, Fiedler sees the time as a phase of self-discovery and maturing, but this process was anything but easy. In an emotional Instagram post at the time, she admitted that the decision to break up came after many sleepless nights. However, what was even more shocking for Mimi Fiedler was the financial uncertainty that ensued after the divorce.
Overview
“I didn’t build up any savings in this marriage,” she admitted openly in an interview with RTL. When she moved into her new home in Mallorca, she couldn’t even afford new furniture. Instead, she furnished her life with flea market and second-hand furniture. A frightening thought for many, but one that often comes too late: How quickly can you suddenly find yourself in a financial crisis after a divorce?
Mimi Fiedler after divorce – from a life of luxury to frugality
Before the separation, the actress lived a life of luxury without worrying about financial details. “I didn’t know what things cost,” she explains and admits that she never felt the need to pay attention to her spending during her marriage. But after the end of the relationship and the divorce, that changed abruptly: Mimi Fiedler had to deal with the tough everyday life of a single person – without financial security behind her.
Fortunately, her circle of friends stood firmly by her side during this time. Her friends, in particular, helped her not only mentally but also financially, she says. “I could count on my friends to help me financially during this difficult phase,” she says gratefully. This situation illustrates how quickly you can find yourself in a spiral of dependency if you don’t take care of your finances independently during a marriage or relationship.
Why women should put money aside independently of their husbands
Mimi Fiedler’s story is not an isolated case. Many women neglect their financial independence in relationships because they rely on their partners. But this is precisely the problem: a partnership should never be the basis for financial security. It is essential that women take their finances into their own hands – in case a relationship breaks down, be it through separation or the death of a partner.
Financial independence empowers women to shape their own futures and be prepared for potential crises. It also opens up freedoms that could otherwise be restricted by dependencies. In the event of a divorce, as Mimi Fiedler experienced, it is all the more important not to have made yourself financially dependent on a partnership.
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A look at the financial situation of women
STYLEBOOK’s Beauty Impact Report 2023 also shed light on the financial situation of women in Germany – and the results were alarming. More than a third of all women surveyed for the study are financially dependent on others. Women in their 30s, in particular, are often in a difficult situation, as many of them have children or are in a phase of professional reorientation. The study showed that almost 40 percent of women with one or two children would get into financial difficulties after a separation. For women without children, the figure is still 25.8 percent. This illustrates how much the financial burden of childcare and part-time work increases – another reason why women should start building up reserves early on.
The survey also revealed that 12.5% of women in Germany do not have their own bank account. This is particularly alarming for married women, as they often only have a joint account with their partner. This absence of financial autonomy can lead to severe repercussions in the event of a separation.
A man is not a pension plan
Mimi Fiedler’s divorce and her lack of retirement savings are cautionary tales of how easy it is to fall into financial insecurity if you don’t provide for your own financial future. Every woman should start building up reserves early on, regardless of whether she is in a relationship or not. Ultimately, it is financial independence that provides security and freedom—an essential message underscored by Mimi Fiedler’s experience.