Financial troubles? Don’t let guilt and shame paralyse you

Many South Africans struggle with debt and meeting their day-to-day living expenses.

Yet despite the availability of expert help and practical solutions, they remain trapped by feelings of guilt, shame and uncertainty, which prevent them from reaching out for the support they need. 

A particular source of guilt is the garnishee order, correctly known as an emoluments attachment order (EAO), whereby creditors can recover unpaid debts directly from a person’s salary.

According to Salem Nyati, consumer financial education specialist at Momentum Group, the stigma attached to EAOs prevents honest and hardworking people from seeking help, managing their debts and moving forward with their financial goals.

“When people feel embarrassed about their debt or financial mistakes, they typically avoid reaching out for help, delay important decisions and hide their struggles from family and friends,” she says.

“This silence only deepens the problem, making it harder to break free from debt and rebuild financial health.”

Nyati says EAOs are a reality for many South Africans. However, with open conversation and the right support, those affected by EAOs can:

• Understand their rights: many people are unaware that some EAOs are unlawfully administered or that these could be renegotiated.
• Reclaim control: by confronting the issue, you can make informed decisions about budgeting, debt consolidation and savings, even when you are a low-income earner.
• Actively seek out help: reach out to a registered financial adviser, who is your best bet at being a trusted partner on your journey to financial security. They bring expert knowledge, objective guidance and a personalised approach tailored to your unique needs and goals. 

“When we hide our struggles, we lose the chance to learn, to improve and to plan for a better future. Already, the country is at a financial crossroads; with household debt levels at historic highs and millions of people battling to make ends meet,” Nyati says.

Echoing Nyati’s sentiment, JJ van Wyk, financial adviser at Momentum Financial Planning, says that when debt becomes overwhelming or credit scores fall, some people may feel deep embarrassment and self-blame. Instead of seeking advice or taking action, they suffer in silence, hoping the problem will resolve itself. This emotional burden often leads to missed opportunities, worsening debt and growing isolation.

Recent data from the National Credit Regulator shows that over 70% of South African disposable income is devoted to servicing debt. Couple this with the fact that more than 10 million people are in arrears and increasing numbers are seeking debt counselling.

“Guilt or the feeling of financial sabotage does not solve financial problems; they multiply them,” Van Wyk says.

“Every person, at some stage in their life, will face financial trouble. It is when people avoid opening bills, ignore calls from creditors or hide their struggles from loved ones, that small issues can quickly snowball into major crises. Worse yet, the longer one waits, the fewer options remain for affordable repayment, debt consolidation or credit repair.”

Van Wyk says financial difficulties are common and nothing to be ashamed of. Job losses, unexpected expenses and rising living costs affect all of us.

By talking openly about money challenges, we can break the stigma, learn from each other and access the tools needed to turn things around.

Starting with small, practical steps:

1. Stretch every rand 

• Buy smart, not expensive. Shop with a list, buy in bulk where possible and compare prices at different stores. Take advantage of specials and loyalty programmes, but only for things you really need.
• Cut back on luxuries. Reduce spending on takeaways, alcohol and non-essentials. Even small savings add up over time.
• Save on utilities. Turn off unused lights, your geyser and appliances. Take shorter showers and fix leaks speedily to save on water and electricity bills. 

2. Manage debt wisely

• Know what you owe. Make a complete list of all your debts by including the amount, what the corresponding interest rates are and the amounts you have set aside to make monthly payments. This will keep you on top of cash outflows.
• Pay on time and never skip payments. Always pay at least the minimum on all debts to avoid extra fees and penalties, and never skip payments, as this presents a major problem in determining your credit score.
• Seek help if overwhelmed. Professional help is available and can make a big difference. To feel empowered enough to plan, establish, and achieve your financial goals you may need to consult a financial adviser. This will help you build a strong foundation for success.

3. Build towards tomorrow

• Start small, save regularly. Putting a little away each week or month adds up. Open a dedicated savings account and set up an automatic transfer.
• Set clear goals. Whether it’s for your child’s education, an emergency fund, or your own dreams, having a goal makes it easier to stay motivated.
• Celebrate progress. Reward yourself, reasonably, when you reach savings milestones. 

“When we let guilt dictate our actions, we block ourselves from learning, growing and accessing the support that’s readily available,” Nyati says. “Asking for help is in fact the bravest first step toward financial freedom and a brighter, debt-free future.”

PERSONAL FINANCE