Money matters, health in focus at women’s event
Women were empowered to be financially savvy at the Border Kei Chamber of Business women’s development breakfast event at Queens Hotel on Wednesday.
The event, themed Live with Confidence, was sponsored by Sanlam.
Durban-based product specialist Mirashnee Naidoo said money could make a person happy or sad, it all depended on how one looked at it.
“My mother had a Std 6 education. She worked in a factory for 35 years.
“When she retired with R350,000, she said I needed to make money with the very little money I received.
“She understood risk. Each one of you understands risk,” Naidoo said.
She said educating a girl child to understand the value of money was important and that understanding the value and power of money was critical in retirement and savings planning.
A survey of about 1,500 people conducted by the company in 2020 showed the longlasting effect financial stress had on their physical and mental health, work performance and relationships.
She said women tended to shy away from making financial decisions.
According to her, statistics revealed that 58% of employees were stressed, 47% could not pay their household bills and 43% acquired personal loans to pay off debt. “We have school fees, groceries, water, electricity, cars and bonds, university fees and elderly people we have to take care of.
“My father is 82 and my mother 72 and their retirement plan is me.”
Another scary statistic, Naidoo pointed out, was that only 6% of the country’s 60-million population could comfortably retire.
While 50% did not have a retirement plan, 21% had a vague idea about it, 21% had a good idea and 8% had well-established plans, she said.
Naidoo urged people to start saving by starting small, saying it was as critical as paying debt.
ProClean business owner Minty Makapela spoke on the importance of mentorship in business and also investing in business education to be equipped for the ins and outs of being an entrepreneur.
The company’s risk product specialist, Kamini Pydigadu, said the role of women had changed from being seen as caregivers and housewives.
However, household duties and raising children while also juggling many other things remained unchanged. “When was the last time you took an hour for yourself and switched off from everything?
“Taking 30 minutes for yourself can do a lot for your mental ability.”
Pydigadu said women gave much of themselves.
She said women approaching 40 were becoming more susceptible to dread diseases caused by stress, not eating healthily due to busy schedules and other challenges they faced.
She said 46% of the company’s claims for women were breast cancerrelated.
“Go for your annual mammogram tests and have a conversation with your financial planner. The cost of medical aid when diagnosed with chronic disease is quite expensive.
“In some instances it does not cover everything and it has to come out of your pocket. Ensure you have covered yourself across the board against illnesses,“she said.
BKCOB’s Lizelle Maurice encouraged women to invest in themselves and to become mentors of others.
“If you have sons, raise them to be good husbands, leaders and fathers.
“Teach your daughters to be good mothers, wise and leaders of society because we need good leaders out there. Be kind to each and every one of us who fights battles, you do not know who was beaten up by their husband.”