This week is a prelude to the country’s commemoration of #WomensMonth and I thought it would be a great time to discuss issues around women and money. This is because there is an ongoing trend these days and a perception that most women, if not all, are gold diggers.
“One in two women believe they are not fairly compensated at work”
Yes, it’s true that women regard money as a sign of security and I would like to believe that this notion applies to men as well. I think the negative perception out there when it comes to women and money is very wrong because there are quite a few women who believe in working hard for their money, thereby creating financial independence for themselves.
A recent study by Visa discovered the following stats about the modern woman’s money mindset:
- 57% of millennial women and 52% of Gen X women associate money with independence.
- 76% of millennial women and 78% of Gen X women associate money with security.
- 62% of women said they wouldn’t quit their job, no matter how much money their partner made.
- One in two women believe they are not fairly compensated at work.
There are a great deal of women who strive to contribute toward the financial stability of their families, whether they are single or married; but there are also some of us who can be reckless at times and those who have not mastered the art of prudent financial planning.
According to a survey conducted by Lieberman Research Worldwide: “Women in general admit that they are not entirely ready for the future, with only one third knowing how much money they will need for their retirement years. This percentage is much less for women in the lower socio-economic groups. Knowing how to properly budget for themselves is another area that women admit to needing to do a better job.”
I also agree with the notion that there are women who believe men should maintain their extravagant lifestyles, and that is entirely their choice.
There are also men who prefer women who are dependent on them financially and there’s absolutely nothing wrong with that, if it works for the parties involved.
I am one of the women who strongly believe in working hard for my money, but also appreciate assistance when we need it at times. To young women out there, who aspire to live a #SoftLife, I would like to advise you to please not take short cuts in life and rather work hard for your buck.
I know social media has created unnecessary pressure for young women to live luxurious lifestyles with expensive items that include designer clothing, jewellery, local and international holidays, to name but a few.
A lot of young women look up to celebrities like Bonang and want her current lifestyle – what most youth have not done is take the time to check how long it took for her to get to where she is and how hard she had to work to acquire everything she owns.
As my parting shot, I would like to say there’s nothing more fulfilling than spending your hard-earned money. That’s just my take and I’m sticking by it.
Miranda Lusiba is the founding director of Strangé Consulting – a boutique PR agency specialising in communications, freelance writing, media relations, reputation management and media training.