If you’ve ever flown, you know the drill: before take-off, the flight attendants remind you about safety procedures. My favourite line? “In the unlikely event of low cabin pressure, oxygen masks will drop. Secure your own mask first before helping others.” It’s not just smart aviation advice, it’s a life lesson about money management and financial planning. Why Financial Boundaries Matter Too many of us, especially millennials and Gen-Z professionals, freelancers, and business owners forget this rule when it comes to money. We rescue family members, friends, or colleagues even when it puts our own financial health at risk. Just last week, during a corporate financial wellness session with TKO Financial Wellness, a young woman shared that she was drowning in debt. Her story was heartbreaking: she was continually supporting her extended family—known in many African cultures as black tax—while her own savings and investment planning crumbled. This isn’t about turning your back on loved ones. Helping family is a core value for many of us. But without clear boundaries, constant giving can lead to resentment, burnout, and financial instability. Understanding Black Tax and Its Emotional Impact Black tax isn’t just a financial obligation—it’s emotional. The pressure to provide can make you feel guilty for prioritising your own goals like saving for emergencies, travelling, or investing. But here’s the truth: you cannot give sustainably if you’re financially depleted. Our recent episode on the TKO Money Adventures Podcast with counselling psychologists Lebohang Bereng (Psychological Wellness Centre Lesotho) and Mpheng Ayat Thamae (MPT Psychological Support) explored the psychology of giving, financial boundaries, and practical ways to manage these expectations. Listen to the full conversation here: How finances affect mental health https://youtu.be/HDK-j31qoyQ?si=O-Ok9IqYknT80Mq5 Financial Boundaries: Protect Your Wallet, Protect Your Peace https://youtu.be/sco0hvwEItA?si=RW7TejJCbzPDpoMI 3 Smart Money Moves for Healthier Giving a) Budget for GenerosityInclude family support as a line item in your monthly budget. Decide upfront what you can afford without jeopardising your financial planning. Once that amount is spent, you’ve set a healthy boundary. b) Communicate Your Financial GoalsTransparency with your loved ones about your goals—whether it’s saving for travel, building an emergency fund, or growing investments—can ease pressure and build respect. c) Prioritise Your Own FutureTaking care of your future isn’t selfish. It’s responsible money management that ensures you can continue helping others without harming your own stability. Think of it as putting on your oxygen mask first. Balancing Generosity With Long-Term Wealth Being generous and community-minded is part of many of our cultures. But generosity should never come at the cost of your dreams—like funding your next big adventure, investing in a side hustle, or building long-term security. Finance and travel dreams or investment planning goals can coexist with giving, but only when you approach both with intention. Remember: Healthy giving starts with healthy finances. When your financial health is strong, your capacity to support others expands without resentment or debt. Stay trailblazing 💙
