What financial freedom means

Last week we asked our female readers what financial freedom meant to them, as we celebrate Women’s Day on August 9.

The overwhelming response was that financial freedom meant financial independence.

They are not relying on men for financial plans, but see themselves as the creators of their own destinies.

Many of them are single mothers and supporting their children is their number one goal, followed by having their own business.

For Mantumo, financial freedom means being financially secure as a woman and doing it her way.

“Not having to depend on my partner for money gives me peace, knowing that if anything happens, I have saved for it and I can make it. Every day I do more to save for myself and my family, even if it means cutting out other stuff, so we can get to have peace of mind, knowing we are financially free.”

Nikiwe has worked towards financial freedom since the age of 26, when she started saving.

“I have become more elite and independent as a single mother. This month, I turn 49 years old and, with it being Women’s Month, I am very proud that I have my own financial freedom. I drive the car of my choice, I have a house with a bond that I can afford to pay each month and I can still afford to take my grandchildren with me on holiday. I don’t have monthly accounts, as I pay with cash, so I never get harassed by stores wanting to know when I will pay. I have no fear about what will happen when I decide to take early retirement, or if I died. I would encourage all women to know the difference between need and want. There is nothing that makes me so happy as financial freedom.”

Ntsoaki, a single mother, believes that financial freedom is being able to have a peaceful sleep without worrying about debts.

“As a single mother, I am able to provide for my two daughters’ needs, especially paying for their education; be up to date with my bond repayments; not finance things on credit, except large purchases such as a car or a house; and go on holiday at least twice a year.”

Controlling their own destinies through having their own businesses is also a big motivator for our female readers.

For Ntsoaki, when it comes to her business, financial freedom means having sufficient capital to run it and “making sufficient profit, and being able to pay all my business liabilities without straining”.

For Iris, financial freedom is not only about not relying on a man, but also not having to rely on an employer.

“Financial freedom is being able to support my family while working hard to establish my business. It is freedom from the modern-day employment trap.”

All four women have won themselves a bottle of pink bubbly.

We wish all of our fabulous women a wonderful, empowering Women’s Day.