Women carry so much on their shoulders, and this can often put astrain on their finances. Being natural caregivers, we support our families and still have to ensure that we are well off. In July, I forgot to pay my nephew’s scholar transport, and this does not mean that because I had the money, I was able to carry it over to this month.
No, thecash found another job to do. What this essentially means is that I have to cut some things to be able to make up for the cash that has gone towards paying for the scholar transport. Who else has ever found themselves in a similar situation?
Farzana Botha, senior communications manager at Sanlam Risk and Savings, highlights UN statistics that show that “women and girls perform an estimated 16-billion hours of unpaid care work every day, supporting families, aging parents, households, and communities”. “For many, this work is deeply meaningful. Caring for loved ones and helping parents navigate later life is often seen as an act of love.
Read Full Article on The Sowetan
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Yet while this work is essential, the financial cost of that invisible labour is rarely counted or discussed,” says Botha. “South African evidence suggests caregiving responsibilities remain heavily gendered. The Commission for Gender Equality’s 2024 review found that women continue to perform the majority of unpaid care work, including caring for elderly relatives.
For many families, that responsibility falls to daughters to step into the role of caregiver as their parents age. “Often informal and unplanned, this care can quietly spread into every corner of a daughter’s financial life, from the emergency fund she cannot build to the retirement contributions she postpones, and the career opportunities she cannot risk taking. This Women’s Month we are reminded that for many women, these responsibilities accumulate alongside careers, raising children and building their own lives.”
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