How burden of black tax is reshaping family finances

Black tax and rising costs are squeezing the sandwich generation as South African families try to look after their parents as well as their children and often their extended family as well.

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Rising costs are forcing families to stretch every rand, but small shifts in planning and spending can make survival possible, says Niresh Gopichand, risk director at Atlas Finance.

"For many South Africans, the salary that comes in at the end of the month must stretch across generations," he says.

"Between raising children, supporting ageing parents and carrying the unspoken weight of black tax, little remains once the basics are covered."

Gopichand says this is the daily reality of the sandwich generation, caught between two sets of financial dependants, their children and parents and in some cases grandparents too.