Make savvy financial behaviour your heritage, not debt

Heritage is more than culture, traditions, and family treasures. It is also about the values and financial behaviours we pass from one generation to the next. Yet, too many South Africans are left not with opportunity or financial stability, but the weight of debt and the learned behaviour of living beyond their means.

According to FinMark Trust, an estimated 10 million South Africans are over-indebted, with 37% of formal credit borrowers facing repayment issues. This figure rises to about 12 million when including those borrowing solely from informal sources. 

In June 2025, the South African Reserve Bank said that the household debt-to-income ratio increased from 62.2% in Q4 2024 to 62.7% in Q1 2025. Analysts commented that although it reflects slower income growth rather than the accumulation of new debt, it is an increase, nonetheless.

These statistics are not abstract. They are lived realities for thousands of families.

Heritage Month is the ideal opportunity to talk about and establish responsible financial behaviour and choices because these are also what we inherit and pass on. Being informed about your money and educating yourself is the starting point in confidently building your financial future.

Debt is not just a financial issue, but a human issue. We believe in helping people build lasting legacies. 

Behind the stark figures are lived realities

Behind every percentage point of over-indebtedness is a parent borrowing to feed a child, a graduate saddled with debt before they even find a job, or a person unsure where to start because someone else has always handled the finances.

But the success stories of those who worked towards financial freedom are nothing short of inspiring.

Educating yourself about money, choosing to live within your means, budgeting carefully, and tackling debt head-on with the right partners are important steps towards rewriting the narrative.

We have all made money mistakes. Forgive yourself, learn, and move forward. Do not let the overwhelming feeling stop you from doing anything.

This Heritage Month, Worth is encouraging South Africans to rethink the kind of financial heritage they want to build: a heritage of good money habits and savvy financial choices that will ensure the next generation inherits opportunity, not obligations.

* Kayle is the co-founder and CEO, and Parry is the co-founder & head of education of the independent financial education group Worth.

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