Finances – Ntshuxeko Masangu

25 August, 2021

Ntshuxeko Masangu, a Social Development Practitioner, has been part of the WOF family for just over a year. She is a wife, mother and entrepreneur with a successful business in events co-ordination.

“As a woman, I am able to view and communicate information from a woman’s perspective, and this gives us an edge in a male dominated industry. In my role as a Social Development practitioner within WOF, women feel comfortable speaking to me about things that they may not feel comfortable speaking about to a male. Competing in the corporate world is challenging, but nothing that cannot be handled. Women wear many hats.”

In the future Ntshuxeko wishes to pursue her Masters Degree in Community Development. She shared with us on Finance in a talk at our annual Women’s Conference.

“We are all able to do something for ourselves that no amount of money can buy. Love yourself. Take care of yourself and keep focused.”

“We must admit that as women, we have been hardest hit by the COVID 19 pandemic. We have needed to conform to new norms, not only in our families and our health, but this has also affected our finances. Many women in South Africa are tasked with raining families while dealing with job loss/company closures – incomes needed to provide for our families.

As women, we have also needed to contend with social expectations, especially as entrepreneurs. As an entrepreneur myself, and as women, we are faced with the stereotype that we belong in the home and are only meant to focus on our families. There is a lack of capital and funding for women in business. Even if we have proven ourselves capable, the reality is that some financial institutions are hesitant to provide funding. Many investors are hesitant to invest, just because we are women. There is a lack of support for women entrepreneurs within society as a whole.

When we start our ‘side-hustles’ we are selling to a limited social network as it is rare for a woman to have a support system that goes beyond her immediate circle. This limits our chances of success. We need to have confidence in ourselves. Let us make our plans and make them happen. It is important that we balance our personal and professional lives. As much as we are meant to raise families it is important for us to know that our professional lives are very important. I tis of paramount importance that s a woman you are able to make your own money, invest and grow that money.

When a child is hungry, they approach women. As women, we are the backbone of the family and the backbone of society. Let us take care of ourselves spiritually, physically, emotionally and financially. Let us make our own money so we are able to meet the needs expected of us to meet. Let us grow our market access where we go by making a concerted effort to actively let people know what we are doing, what we are selling and how they can support us.

As women, we can be financially stable. Let us educate ourselves about money and ask the questions necessary to be well informed. Let us become financially savvy. Let us teach our children about saving, how to budget realistically for our families. Let us save wherever we can, so we have something to fall back on.

It is extremely important to have organised finances. Keep your financial records updated. Record keeping is importance, your family should know where to find these records in your absence. Your family should know that as the woman, you have taken care of them financially.

A ‘side-hustle” is a good way to create an extra income. We have our salaries but we can use our creativity as women to gain additional income. We need to have an additional income that compliments our salaries.

Learning to say no is an important lesson learnt throughout the COVID 19 pandemic. If you don’t need it, don’t buy it. Save that money instead.

Stockpiling is another lesson learnt. Instead of using money, make use of coupons and get discounted items. Try to get more goods for less money, which will enable you to take care of your family. Let us educate ourselves and secure our finances for our children.”

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