Tshego Bokaba | Lead | Momentum Group Foundation | mail me |
We expect young women to make major money decisions from their first salary, yet many are never taught how. Building financial confidence has to start long before the first payslip arrives.
After a month of grafting – and what seems like a lifetime of waiting – your first salary finally hits your bank account. Of course, everyone from your bestie to your gogo has an opinion on what you should do. You should save! Invest! Buy that handbag! Think about retirement! Treat the squad to a night out! Meanwhile, you’re just trying to pay the bills and enjoy your life. No one has ever really shown you how to make sense of it all.
Financial confidence needs to be built early
We expect young women to enter adulthood knowing how money works, as though financial confidence arrives with age. Spoiler alert: it doesn’t. Many were never taught how to manage money at school or university. Money may not have been openly discussed at home. Then adulthood arrives, bringing contracts to understand, scams to spot and decisions to make that could affect their finances for years.
Financial confidence has to be learned. The earlier that happens, the better. At home, something as simple as giving a child an allowance can introduce the reality of making choices with limited money. Schools should make practical financial education part of learning. Meanwhile, universities and technical and vocational education and training colleges need to prepare students for the realities of earning an income. That education also needs to continue as circumstances change. After all, the financial decisions we face change with them.
Financial institutions and corporates have a particular responsibility. They have the expertise and resources to make financial education accessible. Education also needs to go beyond explaining products. Young people need practical knowledge that helps them make informed decisions. This includes understanding how saving works and knowing what they are agreeing to before signing a contract. Employers have a role to play too. This is particularly important as young people begin earning and taking greater responsibility for their finances.
Having positive role models and access to trusted financial advice helps young women turn what they have learned into decisions they can act on. For young women entering the workforce, this support can make financial choices feel more manageable and less intimidating.
Knowing about money isn’t enough
Without that foundation, money can easily start dictating the choices young women make. Add in social media’s constant images of what success supposedly looks like, and it’s easy to start spending money to keep up appearances. From there, debt can quickly become the price of keeping up. Financial education gives young women something more valuable: the ability to decide what matters to them and direct their money accordingly.
Financial confidence develops when young women put that knowledge into practice. Our Motheo Financial Dialogues programme is designed around that principle. After completing the training, participants complete practical assignments.
Independent evaluations before and after the programme also measure their knowledge. And it works – we see young people leave feeling more empowered to make financial decisions. They also leave with a clearer understanding of how their choices today will affect their future financial wellbeing.
Worth is more than wealth
Our She Owns Her Success message for this year makes it clear: Her success has a number. The 2026 campaign aims to help women understand their finances, define their money milestones, and build their personal net worth. And worth means looking beyond what money can buy today.
It means thinking about the life you want to build over time. It’s not always easy – we all love a little treat! – But starting to save or invest from your first pay cheque gives you an advantage that becomes more valuable as the years pass. Doing so early also gives your money time to grow, helping you build towards long-term independence.
Every young woman can learn to take control of her finances. Asking questions is part of it, just as much as learning how to save or invest. Speaking to a financial adviser early can help young women structure their finances around where they want to go. It can also help them avoid simply reacting to where they are today.
The life you want is worth planning for. Financial confidence starts when we stop expecting young women to have it simply. Instead, we need to give them the knowledge and opportunities to build it.
