Do you remember scenes from old Nollywood movies where women become widowed and more often than not have to beg or struggle to take care of themselves and their children?

Well, that still happens a lot more in reality than we all think, even to this present day. Total dependence on a male significant other to provide the sole source of income or be the sole financial decision-maker for the family is risky. 

With the state of Nigeria’s economy, it is not enough for women to only concern themselves with the day-to-day running of their households. 

More strategic planning has to be done on the part of women to ensure they’re fully involved in the running of the family’s finances especially when it comes to making long-term decisions on the family’s finances.

Here’s why:

1. The family is better prepared during emergencies 

As mentioned earlier, we’re all aware of stories where a man who’s the sole provider of the family dies or loses his source of income, and then the family is stranded because the woman is not earning or doesn’t even know anything about how money was coming into or going out of the family’s pockets. She just couldn’t be bothered because, in the past, “money” was only a man’s headache.

It’s the 21st century and we’re becoming more familiar with the concept of feminism and equal rights, so it’s no longer “cool” to think that it’s solely a man’s responsibility to provide. What if something happens to the man? A family is better prepared during emergencies if the woman is a contributor to the home’s finances and is fully involved in the financial planning process such that she is aware of the family’s assets and investments. 

2. Accountability and Transparency 

Because financial planning is usually done with a long-term view, a woman may not be able to tell if the family’s finances are being managed properly for the long term except she is equally involved in the financial decision-making process. When a woman is involved in the family’s financial planning and execution process, her partner becomes accountable to her just as she becomes accountable to him. Essentially, this reduces the risk of mismanagement of funds by either partner and also gives room for the woman to give valuable inputs from a feminine perspective.

3. Women tend to live longer than men

It is statistically proven that women generally tend to live longer than men. This makes involvement in financial planning even more necessary for women as they are likely to spend more years on earth than men.

When you’re actively involved in the family’s financial planning, you’re not just doing something right for the family, you’re doing right by yourself. 

4. It improves the quality of your life 

Strategic financial planning can do wonders for a family’s financial future. But what makes it sweeter is knowing that you’re an integral part of that process. Being in the right tune with your finances is such a big flex because it makes you feel confident and empowered to achieve your goals. With good financial planning, you tend to be more at peace and happy, which in turn improves your creativity and productivity. Who wouldn’t want that for themselves?

Now that you’re aware of all these, a great place to start is to invest with Zimvest today for guaranteed financial freedom and success in the future.