A friend of mine was sharing her life story with me today concerning how her mother lavishly spent everything their father left for them when he died, and she emphasized how her mother’s decision usually affected their life. She said had it been their mother had little knowledge about Finance She would’ve made better decisions and maybe his life would’ve been better because of their mother's bad financial decisions, they have been struggling all their lives, and even after their mother lavishly spent their father’s money, she got access to money later, but the same still happen she was unable to maintain it.
This problem is very common in Africa, where people believe that a lady doesn't need to have a financial education apart from that, some ladies are just waiting for their husband to get rich so that he can also sponsor their rich life without considering knowing money or going for financial education. After starting up businesses for these ladies who didn’t have any knowledge about money when they blew it within five years, this business died no matter the amount of money they put in the business, they ruined it.
It doesn’t have to be only for men
 We have families where after the man of the house dies that is the end of the Finances in that house because the man is the only one who understands money and even when the woman is in a business, it is the man who calls the shot and when he dies Everything relating to Finance died along with him. This is a common story in African homes and this is not because the man did not leave enough money it was because the family can’t manage the resources. Why after the death of most fathers, their families can’t even go on without them and their children end up living miserable lives.
I know that we have some woman who are the pillars and the finances of their family and without them, nothing will function, but this is not common. This is very common for men and the problem comes from the beliefs that the man should be the provider of the family and the woman doesn’t have to do anything. Some of these men have the opportunity to teach their wives how to manage money but they believe they should be the providers without involving their wives or teaching them how their business works after their death every good thing in their family dies with them.
Unforeseen circumstances happen we should prepare
Financial education is very important in families. It is good for the wife and also for the husband and if you should ask me even when you have children it is important to start teaching them so that they will have a better understanding of how to handle money and they can do well for themselves in the future. Financial education should not be limited to man alone because unforeseen circumstances can happen if you’re not prepared this might create some difficulties for your family, but if your family is prepared, they’ll be able to handle their finances and themselves well.
Thanks for your time.
I do agree with this. But also, everyone- i am not saying only men or only women- both should also learn about impulse buying and budgeting.
I came in a household where my father and mother taught me how to budget early on with my allowance. I really apprecite it as I am still using their method to manage my household and finances.
You are right, financial education is not just for men. It is important that everyone is taught it in order to avoid financial disasters in the future, especially in cases such as the death of a breadwinner. Learning money management and investment skills can help both women and men make better financial decisions.