{"id":216792,"date":"2019-09-03T09:00:31","date_gmt":"2019-09-03T07:00:31","guid":{"rendered":"https:\/\/germistoncitynews.co.za\/?p=216792"},"modified":"2019-09-03T07:29:46","modified_gmt":"2019-09-03T05:29:46","slug":"finances-joint-effort-household","status":"publish","type":"post","link":"https:\/\/develop.citizen.co.za\/germiston-city-news\/lifestyle-news\/2019\/09\/03\/finances-joint-effort-household\/","title":{"rendered":"Finances should be a joint effort in a household"},"content":{"rendered":"<p>The management of finances should not be seen as the job for a man or woman in a household, but a joint effort between partners.<\/p>\n<p>\u201cPartners need to work together in order to achieve their family\u2019s financial goals. Being equally involved in household financial matters makes it easy for partners to plan and work towards a common goal, such as securing comfortable retirement,\u201d said Eunice Sibiya, from FNB.<\/p><div class=\"stream-item stream-item-in-post stream-item-inline-post aligncenter\"><\/div>\n<p>Sibiya said in most instances, women allow men to take complete charge of long-term financial planning while they only focus on basic day-to-day tasks.<\/p>\n<p>This could be very risky because even though you are partners, as a woman, you still need to form your own financial destiny and legacy.<\/p><div class=\"stream-item stream-item-in-post stream-item-inline-post aligncenter\"><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #ff0000\"><strong>ALSO READ:<\/strong><\/span> <a href=\"https:\/\/germistoncitynews.co.za\/216042\/teach-children-investing\/\" target=\"_blank\">Teach your children about investing<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>She shared important factors for women to consider in order to be more involved in the household\u2019s finances.<\/p>\n<ul>\n<li>Plan for your retirement. Failure to plan early for retirement will put you at a disadvantage if you take into account that:<\/li>\n<li>The retirement age for women is 60 years whereas it is 65 for men. This therefore leaves women with fewer years to save for retirement<\/li>\n<li>Generally, women outlive men meaning that women would need to stretch their finances for some 30 years after retirement. This makes it more important for women to become financially astute.<\/li>\n<\/ul>\n<p>\u201cIt\u2019s therefore critical for women to take this into consideration when making long-term financial decisions,\u201d added Sibiya.<\/p>\n<ul>\n<li>Plan your finances. Be involved in family finances and set clear goals with your partner that you can both work towards. This will ensure that you avoid unnecessary debt and continue providing financial support for your family.<\/li>\n<li>Spend mindfully. Be careful not to be distracted by instant gratification and keeping up with the latest fashion trends. Be cautious about what this can potentially do to your pocket and your family\u2019s financial wellbeing.<\/li>\n<li>Review your finances regularly. It is highly recommended that you review your saving and investment strategy at least twice a year to ensure that your savings are in line with inflation. This will help ensure that you top up your retirement savings if you see that there is a need to top up and be able to meet your retirement goals.<\/li>\n<\/ul>\n<p>\u201cGood financial habits and having long-term thinking as a family is crucial in ensuring that you retire comfortably.<\/p>\n<p>\u201cWatching your money grow every month is a great motivator to keep yourself on the right track towards achieving your financial goals. Don\u2019t be tempted to spend your hard earned savings on non-essential goods as that will set your family back financially,\u201d said Sibiya.<\/p>\n<div class=\"stream-item stream-item-below-post-content\">\n<div class='tenancy_slot tenancy_slot_1 jannah_ad' style='display: none;' data-query-id='28935c589260e6376d0f769fa4272d96'><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Who manages your household finances? <\/p>\n","protected":false},"author":57,"featured_media":216793,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"hasGravity":false,"cxt_article_byline":"Caxton local media","cxt_disable_google_ads":false,"footnotes":""},"categories":[3686],"tags":[11289,27384,21715,28744,28745,28746,9979,6111],"class_list":["post-216792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle-news","tag-finance","tag-financial-advice","tag-financial-future","tag-financial-planning","tag-financially-stable","tag-household-money","tag-income","tag-money"],"amp_enabled":true,"category_labels":{"Category":"Lifestyle","SubCategory":"Entertainment"},"tag_labels":["finance","financial advice","financial future","financial planning","financially stable","household money","income","money"],"_links":{"self":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/posts\/216792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/comments?post=216792"}],"version-history":[{"count":0,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/posts\/216792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/media\/216793"}],"wp:attachment":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/media?parent=216792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/categories?post=216792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/tags?post=216792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}