Financial stress is the new normal
Mignon du Preez
For over half of Namibia’s working force, pressure is an immediate reality and not a short-term phenomenon. 52% of Namibian employees report that they are under stress financially, according to the 2024 Old Mutual Financial Services Monitor. This is not just a figure; it is the choices, sacrifices, and unspoken battles fought on a day-to-day basis. There can be so many different kinds of financial stress. It’s the fear that your pay cheque won’t make it to the end of the month. It’s the mental strain of saving for those rainy days against bills, groceries, and school fees.
When the unplanned expenditure has the ability to destroy your whole budget, it’s the quiet panic. Also, to most, it is not only about money; it is about security, respectability, and the freedom to make plans for a future that feels more stable. How that stress is affecting overall well-being is especially alarming.
Economic stress has a detrimental impact on the mental and physical well-being of almost one-third of Namibian employees. That means that financial well-being is no longer solely a personal issue; it’s a public health issue. Policymakers, communities, and employers need to take notice. This pressure has a number of underlying causes. Rising cost of living that is not being kept up with by income, and rising financial commitments are all contributory factors. Being part of the “sandwich generation,” many Namibians are supporting adult dependents as well as children.
This double load depletes resources lean to the extent of minimal space for saving or investing. In the face of a display of resilience in terms of entrepreneurship, side businesses, and covert savings, there remains underlying pressure.
But stress does not have to be permanent. The answer starts with awareness. Once we understand the scope and its effect, we can start taking effective steps to minimise financial stress. This includes setting up open money dialogue channels, providing budgeting and planning tools, and making financial literacy accessible to all. It is also acknowledging that economic hardship is a sign that the system needs to be changed, not that they are failing. Namibians are making the most of what they have. They are enduring, adapting, and making do. But they shouldn’t have to do so alone.
Let’s turn the page. Let’s speak about financial wellness as a collective aspiration and not only as an individual obligation. Let’s make it acceptable to seek assistance, preparation simple, and stress not a part of our financial journey.
*Mignon du Preez is a group marketing, public affairs, and sustainability executive at Old Mutual Namibia.
