To the women out there who are still waiting for their knight in shining armour to rescue them, to save them from their troubled times and to ride off into the sunset in a Ferrari: this is for you.
“That knight is probably divorced with a few children and has money woes of his own. Therefore, there is only one way, ladies: you have to do it for yourselves,” says Shiree Coetzer, financial planner at Alexander Forbes.
She says: “Some women are fortunate to have a partner in the true sense of the word. You can then work together to ensure that you plan accordingly. But many ladies are on their own and they need to ensure that they can take care of themselves and their children and be proud of being able to do so.”
Coetzer says that, based on her experience, her concern is that women often rely on their partners to make most of the financial decisions in the household. “Many women do not take the time to understand the long-term financial implications of the decisions made and are not aware of household savings and debt, the balance on the bond and other financial issues."
Coetzee recommends that you ask the following questions: