March is a special month because International Women's Day is celebrated all over the world. We, as women, can use this occasion to reflect on our financial freedom. Saving and investing can be an intimidating topic at first, but the old thinking that "someone else will take care of my finances for me" is no longer valid. As women, we are more than capable of managing our savings and family investments.

The conventional investment world as we know it has changed. Technology has facilitated access to education and financial literacy. With this simplified access to technology, it has become possible to self-educate and stay in control of our finances, despite some of the challenges we face as women.
In general, women use savings products more than investment instruments for one simple reason: because they prefer to opt for safer, long-term solutions with a capital guarantee that allows them to deal with emergencies.

It's a mentality that needs to change, in fact investing savings helps to create wealth in the long term. Fighting inflation and the rising cost of living is possible if you strike a balance between saving and investing, to ensure that money doesn't lose value over time.
Understanding the concept of inflation and the cost of living is very important when it comes to investments. If your funds grow at a slower rate than the increase in the cost of living, then your wealth loses value year after year. On the other hand, investing can accelerate growth and the achievement of long-term goals.

It is also true that, on average, women have a longer life expectancy than men and they often end up being the sole decision-makers when it comes to financial matters at some point in their lives. Yes, the rule to adopt should always be to plan and talk about your finances with your spouse or partner, so that you can both actively contribute to the financial alignment process and understand the decisions being made for the household. It is also important to ensure that family assets are properly protected through instruments such as wills. Planning means keeping the family's finances under control so that, even if unforeseen circumstances arise, the family's lifestyle doesn't change. Whether you're married, a single mother, working full-time or part-time, it's important for every woman to start planning and managing her finances. Women should invest time in watching financial webinars, educational podcasts and reading specialist articles, as well as talking to financial advisors.

Guidance in building financial knowledge and controlling your financial trajectory is just a click away.
Creating a culture of saving and investing among women will not only help us to build greater financial security, but will also go a long way towards increasing the domestic savings rate in our country. As Mozambican women, we are resilient, strong and incredibly capable of mastering the world of finance and, consequently, controlling our own destiny.

Article by Nancy Mafundza, Head of Retail at FNB Mozambique