Why Financial literacy is important

Money Doesn’t Manage Itself And No One But You Should Either

The reasons you should Boss Your Bucks by owning your finances before life forces your hand and why financial literacy and empowerment are so important.  

 Let’s be real. No one else is going to manage your money with your dreams and values in mind. Not your partner. Not your boss. Not the bank. Not even your accountant unless you clearly tell them what you want.

 If you’re not sure what you want financially, that’s where the cracks start to show.

 Financial literacy isn’t about being great with numbers. It’s about understanding where your money is going, why it’s going there and whether that supports the life you want to live.

 A Brief History: Why Women Are Especially Susceptible

 It’s no accident that many women feel underprepared or lack confidence when it comes to managing money. The truth is, financial illiteracy among women isn’t a flaw. It’s the result of generations of exclusion.

 Not so long ago:

- Women were legally restricted from opening bank accounts without a male co-signer

- Credit cards were denied to women unless a husband approved the application

- Marriage often meant financial dependence by design

- Women were told to leave the finances to the men, focusing instead on homemaking and caregiving

 Even after those laws changed, the cultural mindset didn’t disappear. Financial systems, education, and even family dynamics continued to centre men as financial decision-makers

 To this day, many women still:

 - Don’t receive money education in school

- Are discouraged from discussing money openly. It’s considered bad manners.

- Face gender gaps, career breaks and caregiving responsibilities that impact their earning and saving power

- Feel judged or too emotional for financial decision-making

 This history doesn’t mean we’re stuck. But it does explain why financial literacy is not just helpful for women, it's life empowering.

 Why This Is More Important Than You Think

 You could be single and independent. You might be in a relationship and managing joint accounts. You may be divorced, widowed or navigating a major life shift, all of which happen suddenly and unexpectedly.

Whatever your current situation is, life is unpredictable.

- Relationships end 

- Jobs get cut 

- Illnesses happen 

- All sorts of opportunities show up out of nowhere

And when that moment arrives, you want to be prepared and in control.

Without financial clarity, you’re flying blind.

 The Real Risks of Not Being Money Literate

 Let’s not sugarcoat it. When you don’t know your money, you are putting yourself at risk.

- Spending without purpose and wondering why you feel stuck 

- Relying on others to handle it for you and feeling powerless 

- Ignoring red flags until they become full-blown crises 

- Missing out on opportunities because you're unsure if you can afford them 

- Staying in uncomfortable situations because money feels confusing or overwhelming

 Financial Literacy Is a Form of Self-Respect

 This is not just about spreadsheets and savings goals. This is about your ability to stand on your own two feet with confidence.

- Confidence to say no to financial decisions that don't feel right 

- Power to walk away from people or situations that no longer serve you 

- Clarity to make bold moves without regret 

- Freedom to spend and save in a way that reflects your values and vision

Money skills are not optional. They are essential.

 Rainy Days, Breakups, and Plan B Moments

 You need a financial safety net and it needs to be built by you.

- What if you never partner up? 

- What if your marriage ends? 

- What if your income suddenly stops? 

- What if you want to change careers or launch a business?

 There can be positive reasons why you might want a safety net (I don’t like being all doom & gloom!).

-Having a baby and taking maternity leave

-Changing or reducing your work hours to care for your baby/family

-An invitation to go travelling. This could be for a short holiday or an extended break.

-Wanting more work/life balance.

-Being able to decline ridiculous work requests. Anyone been on the receiving end of being expected to work 12-15 hours for a continuous four months over financial year end (or something similar) ??

Knowing how to manage your own money gives you options. You no longer have to wait for permission or depend on someone else to fund your future.

 Start Where You Are

 You don’t need to overhaul your life overnight. Start simple and stay consistent. The journey is as important as the destination.

- Create a basic budget 

- Track your spending 

- Start a savings fund 

- Learn to read your own bank statements 

- Build multiple income streams 

- Ask questions and get support when you need it

 This isn’t about perfection. It’s about progress.

Final Word

Money doesn’t sort itself out. And no one else should have more control over your life than you do. Whoever controls your money, controls you.

When you become financially literate, you gain more than just money skills. You gain freedom, strength and peace of mind.

No matter your age, your relationship status, or your income, one truth remains.

You are your best backup plan.