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be an intimidating topic initially, but the old thought that "someone else will take care of my finances for me?, is no longer valid.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

The conventional investment world as we know has changed. Technology has brought financial literacy and education to our fingertips. With this access to technology, educating oneself and staying on top of our finances has become much more achievable, despite some of the challenges we face as women.
Women, in general, tend to use savings rather than investment instruments for a simple reason: because they prefer safer, long-term, capital-guaranteed solutions that allow them to face emergency situations.

It is a mentality that must 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 balance savings and investment to ensure that your money doesn't lose value over time.
Understanding the concept of inflation and cost of living is very important when we talk about investments. If your funds grow at a lower 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 of thumb should always be to plan and talk about your finances with your spouse or partner so that both of you can actively contribute to the financial alignment process and understand the decisions that are being made for the household. Also of note is the importance of ensuring that the family's assets are properly protected through tools such as wills. Planning means keeping the family's finances under control so that even if unforeseen circumstances arise, the family's lifestyle remains unchanged. Whether you are married, a single mother, working full time or part time, it is important for every woman to start planning and managing her finances. Women should invest time in watching financial webinars, educational podcasts, and reading specialty articles, as well as talking to financial advisors.

Guidance in building financial knowledge and controlling the financial trajectory is just a click away.
Creating a savings and investment culture among women will not only help us in building financial security, but it will go a long way in increasing the household savings ratio within our country. As Mozambican women we are resilient, strong, and exceptionally capable of taking the finance world by storm and controlling our own destiny.

Article by Nancy Mafundza, Retail Director, FNB Mozambique