Introduction

Traditionally men have been regarded as breadwinners in the family and that has slightly changed over the years. The confinement of women to domestic affairs has since changed as more women are now empowered and even earn more money than their counterparts. The challenge in this modern gendered society is the way in which men feel threatened by having a strong independent woman who at times tends to overshadow the family in terms of earnings. The traditional masculine roles where men become the breadwinner, provider and control the family finances has since become threatened with the rise and emancipation of more women in various sectors of the society. The question has since been asked on whether traditional roles still matter and that the pillars are still standing and are women enjoying the liberty and latitude to make their own financial decisions about the money they earn without consulting their husbands or males in their families.

Implications of women’s financial freedom 

In other words, financial independence for most women does not only imply achieving in their careers and earning their salaries or working their money as entrepreneurs. It is about independently making their own choices in a way in which they spend their money without the approval of their male counterparts. Traditionally some men would expect that women take care of the children, cook and clean home while men take care of finances, work on the car and do some home repairs, that has since changed. Generally it has since become difficult so women characteristically become more helpfulness, passivity and kindness which traditionally makes it difficult for them to decisively make financial decisions independent of their male counterparts.

Most of the working class women and financially independent women now fall under the banner of a liberated social class which has since redefined the roles like caregivers, nurturers, home makers and helpers. Cultural and traditional norms and values still control how women spend their money in families. It has also been proven through various studies that women are better financial managers in families and in work places like companies. Women investors tend to achieve positive returns and at times outperform men in managing finances. It is however not the case in families where societal norms, values, traditions and religions still put a lot of bottlenecks on how women should exercise financial independence when it comes to spending the money they have worked hard for the money they have earned through their sweat.

Gender roles in African states tend to be based on femininity and masculinity. The idea that men are the head of the family regardless of a woman’s social status or class in society remains a stumbling block in the enjoyment as well as financial decision making by most women in various African societies. Zimbabwean women have lower financial knowledge as well as less self confidence in their financial skills than men, especially when it comes to risk assessments where they then require more advice from men, thus putting them in a vulnerable position. 

Studies have also shown that women tend to take less risk when making financial expenditures than men do. Women do not make or are hesitant to make financial expenditures alone without the final decision of men unless there is no one to seek such advice from. These limited scope observable socio-economic characteristics in explaining gender differences in financial literacy, or financial executions suggests that social norms are embedded within societies and communities.

Modern Family

The differences in traditional and modern families might be clearly seen in the way they live but not the way they make financial decisions. There has been an invisible shift within the culture of expenditure, where only independent and financially stable women have very little or minimum room to make their own decisions on how they can spend their money, where and with whom. In today’s family model a modern family woman is a wife, partner, organiser, administrator,director,disburser,economist,mother,disciplinarian,teacher,health officer and queen. She plays a vital role in the socio-economic development of the family and society but the question on whether she has the latitude and freedom to spend her resources and financial earnings independent of the husband or male counterpart is far from reality as the women therefore, needs the approval and validation from men regardless of the women contribution to family, company, society and country.

It is important to note that women are more likely to believe in the effectiveness of the rules, either familial or invisible laws or rules based order of either culture, traditions or religion of never spending out capital, waiting for approval either partially or in total. They are also careful in making big financial decisions without a node of or a seal of approval from a male counterpart. It is also important to note that women are more or possess more self-control strategies compared to men in-terms of financial management even if they are not given the chance or opportunity in financial spending in a modern society. Research has shown that females are less financial risk takers than men in Zimbabwe.

Conclusion

While economic inclusion can lead to financial inclusion and vice versa but gender dynamics hold women back on both accounts. It is important to say the dismantling of patriarchal systems is still very far and in-between in order to achieve women’s financial independence.