In a new book, a financial planner offers ten ways for women need to be financially literate

Financial literacy encompasses the knowledge and skills required to manage personal finances effectively. It involves understanding various financial concepts, such as budgeting, saving, investing, debt management, insurance and retirement planning.

Financial literacy empowers individuals to make informed decisions about their money and achieve financial stability and independence.

I firmly believe this: “Financial literacy is financial self-defence”.

Financial self-defence involves being aware, informed and alert, ensuring you’re not vulnerable in unforeseen situations. It means being ready to face all the lemons that life throws at you so that you can handle every situation as and when it appears.

And this can be achieved by not just being literate but…financially literate.

Once you are financially literate, the next step is to be financially smart by applying the knowledge that you have gained, which means having the ability to not let money – or the lack of it – get in the way of your happiness, so that you can make smart and informed life choices. It is being well-equipped with the required knowledge and the tools that are needed to make smart financial decisions.

Ladies, when it comes to your finances, never hesitate to ask questions. Understanding is key to making informed decisions. One of my clients, a gynaecologist, once...

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