The financial dangers of 'Vat en Sit' relationships

Aubrey Masango is joined by CEO at Isithebe Financial Wellness, Sandra Mokhonoana.

Listen below:

Financial literacy is not just a skill, it’s a necessity.

Traditionally underrepresented in financial decision-making, women are now increasingly taking charge of their financial futures.

Mokhonoana says that's largely due to the fact that more information is readily available than it was for previous generations.

Empowering women with financial knowledge equips them to make informed decisions about saving, investing, and budgeting in line with their life events, she says.

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"We can plan for 90% of the events that happen in our lives, there's a financial product for each and every life event... the only thing we don't know is when we're going to die."

– Sandra Mokhonoana, CEO - Isithebe Financial Wellness

"Financial products are there for us to use effectively to make sure that we are not caught by surprise."

– Sandra Mokhonoana, CEO - Isithebe Financial Wellness

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Mokhonoana acknowledges that there are realities that are specific to women, things such as pregnancy and its accompanying costs.

She says it's crucial for women to find out what their employment contract says when it comes to things like maternity pay and medical aid cover.

"Sometimes, even when we change jobs, we mustn't be excited that 'oh I'm getting a bigger salary... but then there's no medical aid costs, so if I fall pregnant I won't be covered."

– Sandra Mokhonoana, CEO - Isithebe Financial Wellness

Another issue for many women is finding themselves inadvertently relinquishing their financial freedom to male partners.

Mokhonoana says it is a trend, often rooted in traditional gender roles, and one that can lead to a significant loss of autonomy.

"Historically that's how the system was set up... you have the breadwinner, or the hunter.'

– Sandra Mokhonoana, CEO - Isithebe Financial Wellness

These days, she says, even though more and more women are working, they don't secure themselves financially when they enter a relationship.

She warns of the dangers of being in a 'Vat en Sit' relationship.

"Here you are 'vat en sitting' with someone who is paying for a bond... your role is to pay for the groceries, pay the helper, pay other things of equal monetary value, but if the relationship dissolves, what does the partner go away with?"

– Sandra Mokhonoana, CEO - Isithebe Financial Wellness

"The male partner in the relationship walks away with an asset, a house... you have spent the same amount of years in the relationship and all you are going away with is the clothes you have."

– Sandra Mokhonoana, CEO - Isithebe Financial Wellness

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