Too many women still live in a state of financial dependence on their partners, Sunel Veldtman director of Barnard Jacobs Mellet Wealth has said.
"They may be significant contributors to household income, but often leave financial matters to their partners," Veldtman said in a statement.
She said she encountered "horror stories" about women who assumed they were well provided for only to discover the exact opposite.
"They are not always widows or divorcees; some wives also discover their husbands have made a mess of the finances," she noted.
"Women start out with big dreams, but fail to develop a plan that could make them come true," Veldtman said.
"An early start on dream fulfilment makes sense in the financial field as the more time you have the more chance you have of growing your money."
Veldtman said younger women tended to look at money in the context of relationships.
"Then children come along and the initial dreams seem unrealistic... so they carry on dreaming without taking action."
These women should reconsider their goals and options.
"They can then work on a revised plan to a new time frame," she said.
She advised women to make a list of expenditure and income.
"Find out where your money goes and ask yourself where it should be going," she said.
Veldtman advised women to list their life goals including issues such as retirement, further education, career changes, hopes of starting a small business or plans for a new hobby.
"Think through the adjustments needed to align your money with your goals.
"Spending priorities may have to change, wasteful expense has to go... you might need to revise your life goals and time frames might need to be extended or sights adjusted," she said.
Current financial arrangements had to be scrutinised, she said.
"This may mean sitting down with a partner to review pension entitlements (spouses have an interest here), insurance policies, savings accounts, mortgage payments, financial obligations, debit orders and investments."
She advised women to start a cash reserve as emergency cash was a pillar of financial planning.
"When your cash covers several months of living costs, look at other ways of wealth-building," she said. - Sapa