Nicola Mawson|Published
Financial pressure is not only about whether there is enough money to cover the bills. For many South Africans, worrying about debt, job security, investments and retirement is also taking a toll on their mental wellbeing and making it harder to deal with financial challenges.
Kim Potgieter, managing director of Chartered Wealth Solutions, says uncertainty about money can quickly lead people to imagine the worst possible outcomes, repeatedly turning over the same fears without getting closer to a solution.
“We repeat the same questions, play out the worst-case scenarios and worry about things that may never happen,” Potgieter says. Without new information or action, she says, nothing changes – the worry simply persists.
The extent of financial stress is reflected in DebtBusters’ 2026 Money-Stress Tracker, which surveyed almost 18,000 subscribers who were not undergoing debt counselling.
The findings show that 72% of respondents were experiencing financial stress, an increase on the previous year. Among those affected, 75% said it was taking a toll on their health, 76% on their work life and 92% on their home life.
Pressure from debt repayments has also intensified. More than half of respondents, or 53%, now spend over 40% of their take-home pay on debt repayments, compared with 48% last year.
The strain is particularly pronounced among people aged 35–44, with three in four spending more than 30% of their after-tax income on debt – a level described as unsustainable.
When worry becomes harder to manage
Psychologist Dr Andrea Kellerman, who analysed the psychological implications of the DebtBusters findings, says prolonged financial pressure can undermine people’s ability to make decisions and find ways to improve their circumstances.
“That accumulative stress that we’ve seen over the last five years... has depleted the ability to make better decisions, to think out of the box,” she says.
The proportion of DebtBusters respondents who felt stuck rose from 29% to 34%. Kellerman says sustained stress can leave people feeling discouraged and helpless, potentially leading them to withdraw or avoid dealing with their problems.
This can manifest in delayed decisions, unopened bills, postponed difficult conversations or disengagement from opportunities that could help them, she says.
Financial strain does not necessarily mean a person is already missing payments or falling into arrears.
Brett Caminsky, director at Atlas Finance, says people can keep up with all their repayments while still spending much of their time worrying about the next bill or whether an unexpected expense will upset their household budget.
“Financial stress can build quietly,” Caminsky says. “The fuel increases just announced add to this pressure. When there is little financial breathing room, even a small financial setback can feel overwhelming,” he adds.
Where the worry comes from
Potgieter says people’s attitudes towards money are often shaped by experiences and beliefs formed long before they start managing their own finances.
Growing up, people absorb messages about whether money is plentiful or scarce, whether it causes tension, whether it is discussed openly or avoided, and how family members and others around them save, spend and worry about it, she says.
When these experiences are rooted in fear, scarcity or guilt, they can influence financial decisions and a person’s sense of security and wellbeing.
“Understanding where those money worries come from helps us separate what is true about our financial situation today from what we may still be carrying from the past,” Potgieter says.
She sees this particularly among people approaching retirement, who may spend years worrying about whether they have enough money without establishing what their actual financial position is.
In some cases, the figures show that changes are necessary. In others, people discover they are in a stronger financial position than they had assumed.
“Either way, knowing is better than wondering,” Potgieter says.
Although a financial plan cannot remove uncertainty altogether, it can replace some assumptions and worst-case scenarios with facts, giving people something concrete to work with.
Taking back some control
Caminsky says addressing financial stress does not mean solving every problem at once. Recognising the warning signs early is an important first step.
“The important thing is to recognise those signs early,” he says. “Coping doesn’t require a flawless spreadsheet or fixing every financial hurdle overnight.”
He recommends starting with a straightforward assessment of how much money is coming in, what is going out and which payments need to be made before the next payday.
A budget can also ease the mental burden of repeatedly calculating what is affordable. Setting reminders for debit orders, repayments and other financial deadlines can help take some of the administrative pressure off people’s minds, Caminsky says.
Consumers who find their budgets increasingly difficult to manage should approach a credit provider or seek appropriate financial advice before falling into arrears, he adds.
Potgieter also recommends taking small, practical steps when financial problems feel overwhelming. These could include opening a statement that has been avoided, reviewing spending, increasing an investment contribution or asking for help.
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