When Sarah Reeve get engaged, she give her fiancé Lee strong condition: e must pay off all im debt before she go marry am. Sarah, wey be 45 years old, talk say when dem first meet for dia early 20s, she dey pay mortgage and bills while Lee dey give im mama rent. She tell am say she no go marry if e get any debt.
So dem set wedding date for two years ahead, wey give Lee time to clear di £2,000 bank loan wey e take buy car. Dat money equal £4,000 for today. After Lee pay everything, di couple put all dia money inside joint account, and Sarah take over bills, saving, and budgeting. Lee tell am say, “You fit sort everything and take charge of money because I no sabi am.”
Sarah experience show say many women dey handle everyday finances. According to St James’s Place Women and Wealth Report, more dan four out of five women dey actively involved for managing day-to-day spending and household budgeting. Sarah dey work part-time for insurance, earning £24,000, while Lee work for maintenance for di same factory for 27 years, earning about £26,000, before dem make am redundant four years ago. Now e dey work for imself for property maintenance, earning about £30,000.
Di couple wey don dey together for 25 years and get two daughters, aged 19 and 21, always see money as shared. Sarah talk, “Na our money, not my or your money. Dat one dey nice especially because I take four years off work when we born children.” After dem clear debt, Sarah say dem never overstretch demself and dey regularly overpay dia mortgage. She add, “We always be savers—well, I be di saver for us.” Every month, Sarah dey write down how much money dey inside dia accounts. She say dat one help because if dem get bad month, at least dem go know and find reason.
Family Action, charity wey dey offer financial support, talk say when money tight, di first step na to get clear picture of wetin dey happen. Dis one help you understand your current position so you fit make best decisions together. But being di financially responsible one no always easy. Sarah wish say Lee go take more ownership because she feel say everything dey on her. She talk say Lee no dey money-orientated and e happy for her to make decisions. E tell am, “I meet you and I get nothing, so I no care if I get nothing.”
Sarah feel di pressure of planning for future. Dem get small pot of money but she no know wetin to do with am. She no get confidence and no know where to start. St James’s Place research of 6,000 people find say only 44% of women feel confident to make changes to investments alone, compared to 63% of men. After her widowed mother see financial adviser, Sarah decide to seek advice. She tink say she no get enough money to see adviser, say person need half a million. Di adviser talk about dia spending, attitude to risk, and future costs like holidays, new car, and home improvements. Sarah say dis make her feel more secure and help dem shift from day-to-day saving to longer-term planning.
Sarah say dia daughters don absorb her attitude to money. Her eldest save while working part-time for Waitrose and don buy her first house. Sarah talk to her about overpaying mortgage and protecting herself financially now dat her boyfriend don move in. She say, “We don rub off on dem. My daughters go probably end up more in control of dia money.” Looking back, Sarah say di biggest lesson na not to ignore debt or assume money habits go sort demself. She say, “You must tink about goal, wetin you want, and how you go reach am.”
