Redefining true success

MONEY: WHAT FINANCIAL WELL-BEING MEANS

- Francois Stofberg

We often measure success in rands and cents.

Whether it is economic growth, the value of our homes, or the number on our payslips, we have come to believe that financial health is about how much we have. But true financial well-being is more complex.

It is not a measure of wealth but of contentment: the ability to live free from financial stress, make confident decisions, and plan for a future that feels secure and meaningful.

This distinction matters because South Africa has built an economy that prizes financial access without necessarily improving financial well-being. Many South Africans have bank accounts, loans and insurance policies, yet most remain financially anxious.

They feel caught in a system that sells financial products but seldom builds financial confidence.

At its core, financial well-being is the state in which individuals feel in control of their money, can absorb a shock, meet their financial goals and have the freedom to make choices that enable a meaningful life. It is about quality, not quantity.

The economics of well-being