Are you still hoping Prince Charming will arrive on your doorstep tomorrow and whisk you away to a life of material comfort where you’ll never again have to worry about the grocery bill or the electricity account or your children’s school fees?

Or have you made peace with the fact that, as a woman, you’re likely to play a critical role in your family’s finances â€" whether you’re blessed with a fairly comfortable financial situation or turning over the pennies to make ends meet?

Bev van Nijkerk, Segment Specialist: Young Professional Market, Sanlam Personal Finance, says women who delegate the responsibility of financial planning to their spouses often find themselves at sixes and sevens when they are caught off guard by unexpected life events like divorce or the death of a spouse or retrenchment.

“The risk of delegating this responsibility, whether consciously or subconsciously is significant. It can ultimately lead to the discovery that you don’t have the necessary financial security to ward off the unforeseen events that often catch people off guard. Events like divorce, special education needs for children, disability as a result of an accident and the resultant inability to earn an income, all present situations which none of us expect to happen and therefore catch us by surprise â€" with disastrous financial consequences,” says Bev. “This is why a serious annual review of your financial planning is critical to ensure that you plan constructively for as much as you possibly can, and to ensure that your family has peace of mind as far as personal cover and savings and investments for their future are concerned â€" whether you’re the sole breadwinner or not.”

Bev’s top five financial habits for a better financial future for women are: • Plan your financial future. • Base your spending on a budget, and pay yourself first. • Use money to gain self-respect, not lose it. • Involve yourself in your family’s finances. • Don’t allow fear of financial matters to rule your life.

Contact: Helet Byron at Sanlam Personal Finance to be referred to a financial planner on 031 â€" 300 0789, 082 458 8211, helet.byron@sanlam.co.za, www.sanlam.co.za.

HELÉT BYRON
MANAGER: KZN MICRO MARKETING SUPPORT
Sanlam Personal Finance

18TH Floor, Embassy Building, 199 Smith Street, Durban, 4001, South Africa
PO Box 2086, Durban, 4000, South Africa
Tel +27 31 300 0789
Fax +27 12 339 1208
Mobile +27 82 458 8211
Web www.sanlam.co.za
E-mail helet.byron@sanlam.co.za