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Fierce financial females are no longer taking the backseat to their male counterparts when it comes to navigating the world of household finances and personal investments. Now, more than ever, women are taking control of their education, their position in the working world, and finding balance with their spouses to run financially efficient homes.

“According to a recent HerMoney and Alliance for Lifetime Income survey of more than 1 000 women, 94% of women say they play a role in managing their household finances, investments, and retirement planning.” – HerMoney.com

In the 21st Century, traditional roles of women have expanded further than just handling home budgets to now having an integral part and invested interest in saving for the future (did you know that women, on average, live five years longer than men) and the unpredictable, which means they are entering a newfound world of financial independence.

Steps towards financial freedom and a happy retirement

A great place to start is by talking to a financial advisor who will help you organise your finances and forecast the outcomes of your investments (don’t worry, they will give you investment strategies too) and savings.

The next step is partnering with a reliable financial service provider such as the 1.618 Group, which will support you in areas of financial planning, health, wellness, and insurance. You will then have a holistic approach to managing your financial goals and will be offered the most effective supporting pillars to your personal strategy.

Lastly, it’s all about being consistent. Putting aside money, no matter how big or small, every month should become a habit – see it as paying you first before every other expense gets deducted from your income. In fact, to make things easier, you can automate your savings via your internet banking. This will go a long way in planning for the future and ensuring you have an emergency fund on standby as a safety net.

This article is meant only as information and should not be taken as financial advice. For tailored financial advice, please contact one of our executive financial planners.

Sources: HerMoney.com and Womanandfinance.co.za