By Sinazo Mkoko
Financial independence is something many of us strive for. It is a key aspect that can give women freedom and power to decide on their life choices. Financial independence comes from being financially literate because, while one may have money, financial illiteracy could lead to mismanagement of money and debt – and eventually to depression.
According to Standard Bank, a lack of financial literacy could lead to increasingly unsustainable debt burdens, poor credit, money loss and higher risks of being a victim of fraud, damaging one’s long-term financial success and impacting the ability to live life on one’s terms.
Here are 4 online platforms that women can utilise to improve their financial literacy thus improving their lives.
This is an initiative by Standard Bank with the mission to educate the public about how to manage money, while making informed financial decisions. The bank states: “Financial literacy is the key to becoming financially independent. At Standard Bank, we’re committed to empowering you with financial knowledge through WalletWise.”
Moms and money
This is a community platform where women can learn how to make money through leveraging what is already within their reach. It’s a community of women who understand that every single woman is different and aim to teach what women want to know. “With every physical and virtual interaction we teach women around the world how to spend their earnings wisely, how to invest with precision and how to become the better ﬁnancial version of themselves. We are committed to the vision that every woman who wants to succeed ﬁnancially cannot be held back, but can rather be empowered by her own abilities and those of her network. We are that network.”
Woman and Finance
Founded by an author, Mapalo Makhu, Woman and Finance is a platform with an aim to educate and inspire women to take charge of their finances. The women in this platform believe that every woman can be financially independent and build real wealth given the right tools. Makhu shares: “I believe that Personal Finance can be easy given the right information and tools. This is why Woman & Finance was born; out of my desire and passion to educate, equip and simplify how money works so that women (and men) can be inspired to pursue and achieve financial independence.”
Clever Girl Finance
This is a global platform with a mission to provide women with much-needed financial guidance and support through completely free resources including personal finance courses, one-on-one mentor calls, and in turn, minimise the impact of any socio-economic barriers limiting them. “Through our approach, we support our community in a fun, engaging, relatable, and non-judgmental way. Our team is dedicated to helping women to become accountable, ditch debt, save money, and build real wealth.”