Financial wellbeing: The missing piece in South Africa’s mental health conversation

By Zihaad Israfil, CEO of CFI Financial Group South Africa

“October brings two important reminders. It is Mental Health Awareness Month in South Africa, beginning with World Financial Planning Day on 1 October. The link between the two cannot be ignored. Money concerns do not stay on a spreadsheet. They show up in our sleep, our relationships, and our confidence. The good news is that small, steady financial habits can restore a sense of control, which is the foundation of calmer decision-making.

“Financial stress often feels like uncertainty. You are unsure what is going out and are uncertain about what is coming in next month. Additionally, you are unsure what would happen if the car breaks down or you are faced with an unexpected medical bill. That uncertainty creates pressure. It is hard to think long-term when you are putting out fires every week. I have observed that when people regain visibility and control over their cash flow, their stress levels tend to decrease. They do not feel ‘rich’, but they feel more comfortable. That is the goal.

Financial self-care

“When we say ‘budget’, many people hear ‘restriction’. I think of it as self-care. A simple plan for your money is a plan for your well-being. It protects your attention from constant worry and your future from avoidable shocks. Start with three questions: What do I earn, what do I spend, and what can I set aside every month with confidence? If those answers live only in your head, write them down.

Five small practices that lower money stress

1. Do a weekly money check-in. Fifteen minutes every day at the same time. Look at your balances, upcoming debits, and any unplanned spend. Close the loop quickly.

2. Track what matters for one month. You do not need a perfect system. A notes app or simple spreadsheet will do. The point is to gain awareness of your finances.

3. Set one near-term cushion. Aim for a small emergency buffer, even if it starts at a few hundred rand. Momentum matters more than size at the start.

4. Tidy your accounts. Rename an account “School Fees 2026” or “Home Deposit”. Having such focus reduces the temptation of impulse purchases. Automate small transfers on the day you are paid.

5. Make a debt plan. Choose a method you can stick to, regardless of whether you pay the smallest balance first or the one with the highest interest.

When you are ready to invest

“Investing or trading should build on that base. It is not a shortcut, and it certainly is not a gamble. Begin by learning how markets move and how risk works. If you are curious about trading, practise first. A demo environment lets you test ideas, learn a platform, and build confidence without risking money. When you do go live, use simple rules you can stick to. For instance, risk a small, defined percentage per trade, use stop losses, and keep a written plan so emotions do not make the decisions for you.

“Tools help, but people help more. Some of the best breakthroughs I have seen happen when someone asks a real question and gets a clear answer in plain language. That is why we put so much emphasis on education and human support. Our aim at CFI is to be a partner, not just a platform. We keep the technology intuitive and secure so it fits your level, and we back it with multilingual learning, market explainers, and specialists who can point you in the right direction when you get stuck.

“Everyone deserves the peace of mind that comes from feeling in control of their money. Removing barriers to participation is part of that. Lowering costs, reducing jargon, and offering opportunities to learn before risking capital all help first-time investors and traders find their footing. Financial literacy is not a nice-to-have but a form of care for yourself and your family.

A simple next step

“If money has resulted in undue stress for you this year, choose one small change you can keep for the next four weeks. Do the weekly check-in. Rename one account and automate a tiny transfer.

Watch one beginner session and take notes. The aim is progress you can feel. When your money is organised, your mind has room to breathe. That is why budgeting belongs in the mental health conversation, and why steady financial habits are one of the most practical forms of self-care we have.”