writes that she has witnessed her fair share. But aside from its emotional impact, trauma can also affect our financial decisions. Sidaki explains how to make better choices. Growing up, I believed that widows always had a hand in their husbands’ deaths because, in my experience, when black men died, this was the suspicion. There was often an attempt to strip widows of their possessions, and frequently they were horribly mistreated.
This is one example of many harmful practices that result in trauma, which ultimately affects one's view of, and behaviour with, money.There is now quite a bit of research that confirms that trauma alters a person’s DNA, which in turn gets passed down to the next generation. Typical trauma-related financial behaviour includes impulse spending, over-indebtedness and general disorganisation in personal finances.
Statistics show South Africans have a poor savings culture and are spending, on average, well over 75% of take-home pay to service debt. Many are dealing with trauma-related consequences and there hasn’t really been an effort to help them unpack or overcome these issues. Many still manage their affairs with dread and secrecy – beyond what is comprehensible. A lot of it is trauma-related and stems from a history of poverty, lack of information and, sometimes, harmful cultural practices.