Money is stressing South Africans out, but we won’t talk about it

Financial stress is a significant issue for South Africans, yet many are reluctant to discuss their money matters. According to Nedbank's latest NedFinHealth Index, 51% of respondents cited money or financial concerns as their top source of stress. This strain extends beyond personal finances, impacting mental health for 46% of respondents, family life for 45%, sleep for 43%, and self-worth for 42%.

The situation has worsened this year, with DebtBusters' 2026 Money-Stress Tracker reporting that 72% of respondents were experiencing money stress, up from 70% the previous year. Among those facing financial stress, 92% noted its impact on home life, and 75% on health. Interestingly, more than half (53%) of those surveyed spend over 40% of their take-home pay on debt repayments, an increase from 48% the previous year.

Despite these challenges, a notable gap remains in open financial conversations. Over 40% of South Africans still avoid talking about money. Among those who feel embarrassed discussing their finances, 44% view money as a private matter, and 43% claim they lack sufficient funds to talk about it. Almost a third (31%) don't want others to know they're in debt, and 27% believe money is not a topic their families regularly discuss.

Nedbank's chief marketing officer, Khensani Nobanda, emphasizes that money significantly impacts well-being, relationships, and daily choices. She asserts that open money conversations can lead to better mental health, stronger relationships, and improved financial outcomes. While there are signs of progress, such as a rise in the overall financial health score from 54.8 in 2024 to 56.4 in 2025 and a decrease in shame around seeking financial help by 17.8%, confidence in meeting long-term financial goals has remained unchanged at 44.5.

Nobanda stresses that financial well-being is influenced not just by earnings and savings but also by how individuals think, feel, and communicate about money. She concludes that the healthiest money relationships are those where people openly discuss their financial situation and seek support before minor issues escalate into crises.