A mother is not simply just a mother or a juggler, multi-tasker and a ‘can’t-live-without-you’ type of being. Mothers are high energy Supermoms – all of them. And, even though Mother’s Day might sound like a bit of a cliché this month – a tribute to South African Supermoms has been long overdue.
Since Supermoms face various challenges – going above and beyond their energy levels to take care of their loved ones – DebtSafe wants to share their demanding and never-ending financial load with them.
Carla Oberholzer, debt adviser at DebtSafe, explains that a Supermom might face financial challenges due to:
- the current uncertain economy
- price hikes (fuel, groceries and VAT increases)
- single motherhood or
- the implications and consequences of a sandwich generation – when she takes care of her loved ones like parents and/or her young adult children (Key Savings & Investment Trends 2017).
So, to all the South African Supermoms out there – it is time to enhance those oomph levels and lessen those fiscal drainages with these four ‘boosters’ and ideas:
- Don’t just get-up-and-go shopping. It is best to avoid impulsive and financial-, energy-draining shopping sprees with a little bit of self-control. Rather take a deep breath and plan monthly shopping outings while keeping things needed (and not wanted) in mind.
- Where the financial mind goes, energy flows. Supermoms can energise their minds by keeping up to date with the latest financial news and tips. Try and read blogs, newspaper or magazine articles on a weekly basis, and make use of online financial websites as well as phone apps.
- Don’t believe in teamwork? – Think again. Moms won’t gain energy if they continually manage those household finances alone. Money and finance management (even saving for a December holiday) should be a team effort and involve the kids, a partner, other relatives or friends.
- Get the word out – financial communication is important. There is no better way for a mom to put a spring in her step than initiating proper financial talks and communication. What about arranging a brainstorming session and regularly discussing money-matters with all the loved ones?
Note: communication should not stop here – times are tough, a mother should therefore also communicate and negotiate better instalments with creditors, brokers or bankers.