BUSINESS NEWS - In this hectic life, money lessons are rarely learned where we expect to find them. 

They’re picked up at the braai while your uncle tells you how he once bought a car cash, or at a wedding when aunties secretively gossip about lobola negotiations. They’re whispered in kitchens when bills arrive. They’re passed around at stokvel meetings where EVERYONE seems to know precisely who still owes. 

You see, our heritage doesn’t come down to simply food, music, dance or attire – it’s also about the financial lessons we inherit.

Some of these lessons are pure gold: “save before you spend”, “don’t live beyond your means”, “always keep something aside for emergencies” – classic advice. 

Others are less helpful: “never talk about money at the dinner table”, “just borrow and hope payday comes quickly”, or “there will never be enough, so spend it while you have it”. Whether good or bad, these teachings shape the way we save, spend, and think about money.

The good, the bad, and the inherited

Take stokvels, for example. They’re more than a saving tool – they’re a cultural tradition of trust, accountability, and community resilience. For generations, stokvels and burial societies have helped South Africans manage major life events, from funerals to school fees. 

Now that’s an inherited money habit worth keeping.

But we also inherit limiting habits. For many, money was a taboo subject at home. In fact, it could catch you a klap in the wrong moment. Children grew up seeing their parents argue over bills or take on credit without explanation. 

The unspoken lesson? Money is stressful, confusing, and best avoided. Fast forward a generation, and those same children are drowning in debt or avoiding saving altogether.

We also inherit expectations linked to tradition. Lobola negotiations, initiation ceremonies, or milestone celebrations like umemulo carry a heavy cultural and financial weight. 

These events reflect the soul of who we are, but without proper planning, they may only be remembered for causing strain and debt. So how do we move forward?

Heritage Month is a chance to reflect

Heritage Day isn’t just about braais and bright attire. It’s a reminder to look at what we’ve inherited – and what we want to pass on. Our grandparents (and ancestors) may have taught us resilience by making a little stretch a long way. 

Our parents may have shown us discipline by budgeting carefully. Now it’s our turn to ask: which lessons serve us, and which ones hold us back?

With humour and honesty, South Africans can admit: yes, we all know that cousin who spends his December bonus in one weekend, or the elder who insists cash under the mattress is safer than a bank. 

But, we can also celebrate families that teach children early about saving that involve teenagers in budgeting for a family holiday or that use stokvel pay-outs to start small businesses.

Turning heritage into healthy habits

Don’t erase the lessons of the past. Build on them. Structured savings tools encourage consistency – whether you’re saving for your child’s education, that important cultural milestone, or simply creating a buffer against life’s storms.

The idea is simple: take what you’ve inherited and make it intentional. If your family taught you generosity, channel that into a savings plan that supports not only your loved ones but also your long-term goals.

If secrecy around money was the norm, replace it with open conversations that empower the next generation (and your legacy).

Money talks don’t have to be awkward. In fact, they can be as natural as Sunday lunch. Around the table, between the pap and the chops, ask each other:

• What’s your earliest money memory?
• What would you like to save for this year?
• What’s the best financial lesson you’ve ever been taught?

These questions don’t just spark conversation; they plant seeds for a healthier financial future.

Every family has stories about how money was handled in the past. Some make us laugh, some make us cringe. But they all carry lessons. By reflecting on them, and with guidance from a trusted financial adviser, you can turn those inherited habits into purposeful choices.

The best inheritance we can give the next generation is not just wealth, but the wisdom to manage it well.

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