How to financially empower the mothers in your life

Women need room to run their financial lives. If there is a single cost you can remove from a mother’s life, remove it (Photo: Gemini)

Mothers give so much to their families and communities, often even when they have very little left themselves. This Mother's Day weekend, we explore ways to support them in meaningful ways and how to empower the mothers in your life financially, whether they are your spouse, parent, sister, friend or caregiver.

According to financial literacy expert Patrick Wameyo, when money is put in someone’s hands, financial literacy is also required for it to have an impact. He distinguishes between access to money and true empowerment, emphasising that financial literacy must come first.

Financial literacy is the ultimate form of financial empowerment. It involves equipping people with the tools, confidence and skills to make informed choices, manage resources effectively and forge their own financial paths. As he explains, capital becomes more effective when paired with the ability to use it wisely.

“Financial literacy is a very powerful tool in the hands of a mother. She is far more empowered when she has capital and financial literacy. She can make her own choices and has the authority and confidence to drive change,” he says.

Mothers, he adds, play a significant role in families; therefore, it makes financial empowerment important. Even with their role, they face structural and social barriers that limit their financial independence. Among the most common challenges are managing spending, saving, investing and borrowing while balancing aspirations and inadequate resources.

Caregiving responsibilities also affect earning potential, as many women step back from career opportunities or further education due to the demands of raising children. Jobs with irregular hours or rigid structures can further disadvantage mothers, thus forcing many of them to choose between income and caregiving responsibilities.

“Women give up a lot to be carers. The time and attention required for caregiving can interrupt career growth and reduce access to opportunities,” he says.

Patrick advises that meaningful financial support for mothers must go beyond assisting them temporarily and instead focus on long-term empowerment. This includes creating enabling environments at home and in the workplace.

He observes that some organisations, particularly multinational companies, have introduced flexible work policies that acknowledge the dual roles women play.

“However, such measures are not always feasible in all workplaces. Support cannot be uniform. Each family and each woman have unique circumstances,” he says.

He further highlights that entrepreneurship can offer mothers greater flexibility and control over their time. Flexible income opportunities such as home-based businesses, baking, content creation, or crafts can help mothers balance caregiving and earning. However, success depends on both social and financial support from families.

“If formal employment does not allow her to balance her roles, we should support her to develop entrepreneurial skills that give more freedom,” he encourages.

Away from systemic change, everyday actions around financial literacy can play a meaningful role in easing financial pressure. This can include informal training on saving, budgeting, investing, and recognising value when making purchases. Such lessons can be adapted to different literacy levels and do not always require formal education systems.

Open conversations about money in families are equally important. In some cultures, women are excluded from financial decision-making, limiting their ability to plan and express preferences.

When financial decision-making also involves a mother, families are able to better prioritise needs collectively and build more sustainable plans.

“When you involve a mother, you put her in a better place. People can only express their choices when they are included,” he says.

For mothers looking to build or rebuild income streams, Patrick suggests skills and financial support. In a rapidly changing job market, reskilling is necessary, especially for those returning to work after caregiving.

Planning for children’s futures, including education and basic welfare, is another aspect of financial stability. He encourages starting early, even with small amounts, to ease long-term burdens. He also advises mothers to be money-wise and let children get used to what they can afford instead of borrowing to provide.

Moreover, he encourages mothers to maintain personal financial plans along with family ones.

“They had individual lives before becoming mothers. They still have personal goals and aspirations,” he notes.

This Mother’s Day, Patrick urges us to think about the lasting financial impact on mothers.

Financial empowerment, he insists, should not be about dependency but about productivity and autonomy. Households where women lack control over finances or receive only daily allocations without long-term planning show a gap in empowerment.

“Women need room to run their financial lives. If there is a single cost you can remove from a mother’s life, remove it. Reduce the burden and increase her freedom,” he encourages.

Empowering mothers, he says, is an investment in families, communities, and future generations.