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.
Gary Kayle, co-founder and CEO of the independent financial education group Worth, says 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.”
Through a series of affordable, online financial courses coaching clients to manage their finances better, Worth is changing the financial heritage of South Africans.
Hayley Parry from Worth reiterates that debt is not just a financial issue, but a human issue. “We believe in helping people build lasting legacies. Worth empowers South Africans to overcome debt, build financial confidence, and enjoy long-term financial freedom.”
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.
Earlier this year Jonathan and Latoya Cleary, a couple from Fourways, shared how enrolling in Worth’s Wealthy Couples™ course was a life saver. Crushed by mounting debt, their marriage suffered, they were forced to sell their car and homeschool their children.
Since completing the course, they have taken measurable steps towards paying off their debt and are working towards buying a home.
It is worth building your financial heritage
Stories like these underscore that changing South Africa’s financial heritage is possible, says Kayle.
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.
More testimonies from those who have completed a Worth course highlight real, lasting change: many individuals have increased their savings, build up an emergency fund and become more actively engaged in their finances.
Says Kayle: “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.