Women have been an impressive group of savers on Liberty’s Stash App, according to the insurer. As the country celebrates Women’s Month, Liberty highlights that this behaviour should be applauded and celebrated for the incredible strides women are making in taking ownership of their finances and investing toward a prosperous future. Women’s financial empowerment is not only transforming their own lives but also positively impacting their families and communities.
“This year alone, it is women who have demonstrated remarkable financial discipline and commitment, collectively contributing an impressive R26 million per month on average on the Liberty Stash app. This figure significantly surpasses the R10 million per month contributed by men. The higher contribution by women reflects their dominant presence in the Stash community, underscoring their dedication to saving and investing,” says Glenn Grimley, Liberty’s Head of Stash.
In addition, women make up 70% of the over 390,000 users on Stash and on average, they have been contributing R452 per month to their Stash accounts, compared to R594 per month for men. While the average contribution per woman is slightly lower, the sheer number of women actively participating in the Stash community amplifies their overall financial impact. This collective effort is a testament to women’s commitment to financial growth and stability.
“It’s encouraging that women have shown an exceptional commitment to financial growth and stability, not just for themselves but for their families as well. Their proactive approach to saving and investing in this tax-free investment is a powerful force in shaping a secure future for the next generation,” adds, Amanda Dusse, Franchise Principal and Financial Adviser at Liberty.
According to the World Economic Forum, one of the most significant roles women play is in family financial planning.
This is evidenced through data from Stash, where at least 86% of the Stash For Kids accounts, an added benefit on the App, are opened by mothers for their children, showing that women are not only saving for themselves, but also for their children’s future.
“Notwithstanding the contribution by men, this is being applauded because historically women tended to leave financial planning to their male counterparts. This proactive approach to financial planning, even for the next generation, is the way to go towards building generational wealth, one spare change at a time,” adds Grimley.
This month, Liberty will give female Stash users access to specially curated financial content through their Stash4U Inboxes.