Women risk losing money

Addressing these issues is crucial for securing financial stability.

- Eric Jordaan

Research shows that women spend more time researching investments and tend to take appropriate risks, leading to better outcomes. They avoid chasing "hot tips" and prefer long-term holdings. They also stay calmer during market downturns to avoid locking in losses.

However, certain factors can still weaken their financial positions and leave them vulnerable.

Understanding and addressing these issues is crucial for securing their financial stability.

Your marriage contract (or lack thereof)

Your marriage contract sets out the financial consequences of your relationship, and it's absolutely critical that those who are married understand the impact the contract has on their financial futures.

Some people have little understanding of their marriage contracts and the financial implications should their marriage come to an end. In particular, couples who are married in community of property are at higher risk when it comes to debt.

This is because couples married in community of property share a single, joint estate in equal, undivided shares - including all assets and liabilities acquired during the course of the marriage and before the date of marriage. This means that debt incurred by a financially irresponsible spouse can bind the joint estate, making both spouses legally responsible for the debt.