In celebration of National Women’s Month, financial experts are highlighting the critical need for women to achieve financial freedom—a key factor in empowerment and economic equality.
Samantha Moyana, a debt counselor at National Debt Advisors, emphasized that while financial independence is often taken for granted, many women still face systemic barriers that limit their economic mobility.
The Struggle for Financial Inclusion
Moyana pointed out that over 50% of single parents in South Africa are women, many of whom bear the dual burden of caregiving and being primary breadwinners. “Women are known as the caregivers of their families—not just immediate, but extended families as well,” she said. “Often, their salaries don’t suffice to cover all these responsibilities.”
Income inequality exacerbates these challenges, forcing many women to reduce working hours or leave jobs early, limiting career advancement and financial stability. “Caregiving comes with so many expenses,” Moyana explained. “Women have to compromise a lot, and it affects their ability to thrive financially.”
Recognizing Invisible Financial Pressures
Moyana urged women to acknowledge these hidden financial strains and seek professional guidance. “The first step is admitting, ‘I am struggling financially,’” she said. From there, women can explore options such as speaking to employers about flexible work arrangements, consulting financial advisors, or engaging in debt counseling.
Strategies for Regaining Control
To regain financial independence, Moyana recommended:
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Exploring additional income streams, such as investments or side businesses.
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Joining savings groups (like stokvels) to build financial resilience.
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Seeking professional advice from debt counselors or financial planners when overwhelmed.
“Reach out for assistance,” she urged. “There is always someone willing to help.”
A Call for Greater Recognition
Moyana stressed that society must better recognize the financial challenges women face. “Women need to be considered, especially single mothers with little to no support,” she said. “Financial freedom isn’t just about equal rights—it’s about liberation and the ability to contribute meaningfully to the economy.”
As National Women’s Month continues, the conversation around women and finances remains vital—not just for individual empowerment, but for broader economic growth.
For more financial advice, contact National Debt Advisors or consult a certified financial planner.