Financial security isn’t a luxury, it’s a human right

For most South Africans, dignity is not an abstract concept. It lives in the everyday realities of financial stability.

It is the relief of knowing a debit order will clear at the end of the month, the ability to respond to a medical emergency without panic, and the confidence that loved ones will be protected if life takes an unexpected turn.

Right now, that sense of stability is under strain.

According to the 2025 DebtBusters Money Stress Tracker, 91% of South Africans say money-related stress is affecting their home life, while nearly three-quarters report that financial pressure is impacting their work and their health. Although levels of stress have eased slightly since 2023, a year marked by elevated inflation and higher borrowing costs, the numbers remain high enough to signal something deeper than a temporary economic cycle. Statistics South Africa (Stats SA) reported that average consumer inflation for 2023 stood at 6%, with food inflation exceeding 8% for much of the year, placing sustained pressure on household budgets. At the same time, the South African Reserve Bank (SARB) increased the repo rate to 8.25% in May 2023, pushing the prime lending rate to 11.75%, its highest level in more than a decade. Financial anxiety has become a defining feature of daily life for many households.

When we talk about human rights, the focus often falls on legal protections and social freedoms. Yet dignity is also experienced in practical terms. It is reflected in the ability to make choices with confidence, to plan beyond the next month, and to build a future that feels stable rather than uncertain.

Financial security is what makes those choices possible.

Over the past two decades, South Africa has made meaningful progress in expanding financial inclusion. More people have access to bank accounts, insurance products and retirement savings vehicles than ever before. On the surface, this suggests a system that is working to bring more people into the formal financial environment.

But access on its own does not necessarily translate into empowerment.

For many consumers, financial products still feel distant and complex. The language used to describe them can be technical, the structures difficult to navigate, and the long-term implications hard to visualise. When understanding is limited, financial decisions often become anxiety inducing rather than intentional.

This gap between access and confidence has real consequences. Policies are sometimes cancelled during periods of pressure because their value is not fully understood. Retirement contributions are paused with the intention of resuming later, only for the delay to have a far greater long-term impact than expected. Insurance can be treated as a monthly expense rather than a form of protection designed to safeguard years of effort.

These decisions are rarely careless. More often, they are made in moments of uncertainty, when immediate financial pressure outweighs long-term planning.

The challenge for the financial sector is not only to extend access to products, but to ensure that people feel confident using them. Financial systems work best when individuals understand how the decisions they make today shape the stability of tomorrow.

This is where the role of advice becomes especially important. A clear conversation about risk, protection and long-term planning can shift the way someone sees their financial life. When complex concepts are explained in plain language and linked to real circumstances, financial products begin to make sense. They move from being abstract commitments to becoming practical tools.

Resilience is often built quietly in these moments. It grows through consistent, deliberate decisions rather than dramatic financial moves. Reviewing cover when responsibilities change, maintaining retirement contributions over time, and slowly building a buffer against unexpected events may not feel extraordinary. Yet these habits are what create lasting stability.

Trust also plays a significant role in whether people feel comfortable engaging with financial institutions. In an environment where economic pressure is high, transparency and alignment matter more than ever. People want to feel that the institutions they rely on are working with them, not simply selling to them.

This is where models built around Mutuality like PPS insurance and glu offer a different perspective. When Members share in the success of the business, the relationship shifts from a purely transactional one to something more collaborative. It reinforces the idea that financial security is not just an individual goal, but something that can be strengthened through shared participation and long-term alignment.

Beyond the principles and policies that shape society, it exists in whether people feel secure enough to make long-term decisions. It is visible in whether households can plan for the future without constant uncertainty about the present.

Financial security does not remove life’s unpredictability. No system can do that. What it can do is provide a foundation strong enough to absorb shocks and support progress.

When that foundation exists, individuals have the freedom to think beyond survival. They can focus on building, growing and shaping their own futures.

And that, ultimately, is where dignity begins.