Concerns about high debt levels can affect entire families, and children growing up in financially stressed households are more likely to inherit poor financial habits and anxiety about money.
This is according to the National Debt Counsellors’ Association (NDCA), which represents South Africa’s largest and most experienced debt counsellors, and wants South Africans to deal positively with their burden of debt.
NDCA member data shows that the most financially stressed age group is 35 to 54, typically the age of parents with school-going or university-aged children. Seventy-seven percent of respondents aged between 35 to 44, and 76 percent of those between 45 and 54, reported feeling anxious or stressed about finances.
NDCA…
