As South Africa’s household debt remains elevated, the call for greater personal responsibility in family finances has never been more urgent. The Common Sense Economics and Policy Editor, Bheki Mahlobo, highlights data showing that household debt has remained elevated, while wage growth remains under pressure and unemployment persists at nearly one in three adults. “No one will care more about your family’s future than you,” Mahlobo warns. “Families cannot wait for a government rescue. Taking ownership of your finances is the only reliable safety net.”

Mahlobo points to figures showing that South African households now face high debt-service costs, with repayments consuming a significant share of monthly budgets. “As borrowing remains expensive and incomes are squeezed by inflation, families who do not take charge of their spending risk being overwhelmed by debt traps,” he says. “Personal responsibility means making tough choices, such as tracking your spending, avoiding unnecessary credit, and prioritising needs over wants,” Mahlobo says.

“It’s not about blaming families for tough times, but about recognising that small, consistent discipline today can spare you far greater potential pain tomorrow.” Households which practice careful budgeting are less likely to miss payments, lose assets, or fall into cycles of crisis borrowing.

He insists that families must talk openly about money, teach children the value of saving, and refuse to be seduced by the promise of easy credit or quick fixes. “The financial climate is unforgiving, but agency remains with every household,” Mahlobo says. “Waiting for external rescue is not a plan.”