Proper financial planning for women is key to their independence
While women play a vital role in joint household finances‚ socioeconomic challenges make financial planning more complex
Many South African women live from month to month and save far less than their male counterparts. This emerged at a Liberty masterclass in Durban on Tuesday‚ where experts unpacked the financial planning habits of South African women. Statistics SA says 41.3% of households are headed by a woman. According to financial services company Liberty‚ while women play a pivotal role in joint household finances‚ socioeconomic challenges make financial planning more complex. Liberty financial expert Daphne Rampersad told the media gathering that many women had little savings and relied heavily on their salaries to pay their monthly expenses. "Women live longer‚ earn less and save less than men. Having a proper financial plan in place allows women to be independent‚" said Rampersad. The need for long-term investments was paramount to achieve this‚ she added. "It’s daunting and complex and research shows that women tend to shy away from long-term investment. But research also shows that women d...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.