Sisters still need to do it for themselves

Desray Goldman, Divisional Director of Administration at Liberty Corporate

The women of South Africa may enjoy levels of gender equity that were unheard of just 20 years ago, but that doesn’t mean that they can expect financial security to simply fall into their laps. That’s the view of Desray Goldman, Divisional Director of Administration at Liberty Corporate, who explains that women can’t expect to achieve financial empowerment unless they are willing to take full control of their own money matters and seek out every opportunity to create the futures they desire, and deserve.

And Desray should know. With more than 30 years’ experience in the once male dominated world of financial services, she has a thorough insight into the importance of creating, and capitalising on ones opportunities. After starting out, more than three decades ago, doing employee benefit calculations for Southern Life, Desray’s determination to succeed as a women in finance saw her quickly working her way up the corporate ladder by actively seeking out opportunities to expand her knowledge and work experience in everything from administration and sales, to actuarial and legal services.

“By 1994, I found myself holding a position as a Director in an actuarial and consulting firm,” she says, “and looking forward to the many possibilities and opportunities that would open up for me and all the talented and ambitious females in South Africa as our new democracy developed.”

And it’s this combination of ambition and drive, coupled with an ability and willingness to value herself appropriately, that Desray insists was the driving force that saw her career, and life, blossom over the following decade and a half, to bring her to the point where she now finds herself heading up the administration function for Liberty Corporate.

“I don’t consider myself more talented or capable than any other South African woman, but I also know that luck and handouts have had nothing to do with what I have managed to achieve,” she explains, “it’s all about knowing what you want, planning carefully, and taking control of your future.”

According to Desray, this approach doesn’t only apply to career development; it’s a way for women to achieve whatever they want in life – particularly in terms of their finances.

“The time has come for women to take full responsibility for their financial futures, and stop shifting that responsibility to the men in their lives,” she emphasises, “and this isn’t a feminist sentiment, it’s a practical one, because only by taking control of their finances will they unlock their full potential for success and personal achievement.”

According to Desray, at the very least, this begins with attaining a level of financial literacy. “Finances are not rocket science; they are actually quite straightforward, “she says, “and taking the time to get even a basic understanding of how to put your money to work for you and your family is probably the best investment you can make in your future.”

Asked for her best piece of advice on how women can start taking greater control of their financial futures, Desray laughs and rattles off six pearls of female financial wisdom:

1. Control your debt – Stop convincing yourself that your ‘wants’ are ‘needs’ and avoid spending on unnecessary items. If you have to, lock yourself inside during sale season!
2. Create an emergency fund – Even putting a little away into a savings account could make a huge difference when a financial crisis hits. And no, a cosmetics sale does not qualify as a financial crisis.
3. Start saving for your old age while you’re still young. And if you’re not young anymore, start now!
4. Value yourself and your life – the way others value you depends on how you value yourself. You’re in charge of your destiny and how soon you reach it. Just be sure to enjoy the trip.
5. Draw up a will – and make sure all your financial information is in order, and in one place.
6. Leave a legacy – teach your children the lessons you’ve learned; starting with the importance of controlling their own finances and futures.

According to Desray, Women’s Month should be more than a celebration of women; it needs to be a call to action. “Just like those 20 000 passionate women took to the streets in 1956 to achieve their vision of racial equality, today’s women need to take action to achieve their personal goals,” Desray enthuses, “and it starts with a willingness to become the manager of your own finances and master, or rather mistress, of your own future.”