How open discussions about money can save South African families From Financial crises

MANY South African families are only one emergency away from financial trouble. With the rising cost of food, fuel, and electricity, even a small, unexpected expense like a burst geyser or medical bill can push a household into debt, according to Yashika Rambujan, FNB Private Banking regional head KZN.

- DIEKETSENG MALEKE

Rambujan says despite this, most people still don’t have money saved for a rainy day, and without a savings buffer, families often turn to credit cards, personal loans, or store accounts to get by, and end up paying high interest that eats into future income.

“Many families could avoid this situation by talking about money more openly. It’s not just about budgeting; it’s about creating a shared understanding and plan for your household's finances. That starts with honest conversations about what each person earns, what debts they have, what worries them, and what they are working towards," Rambujan says.