How to set new boundaries to overcome financial fatigueBeing a millennial (19-39) can be challenging, especially if you are obligated to support your parents or co-dependents. Read more on how to set new boundaries to overcome financial fatigue.14 March 2022

Today we celebrate our 32nd Independence Day in Namibia, taking a moment to remember those brave heroes who fought for our freedom and unity.

Turning 32 is quite significant as it is still very much in the mid- millennial (19- 39) age range. By now most 32-year-olds are either out of home pursuing a post-graduate degree or earning a salary, having just enough left for themselves, after supporting their parents or co-dependents.

Navigating family relationships is challenging enough and if you throw in the financial expectations they may have it can become emotionally explosive. A recent Savings & Investment (SIM) study done by Old Mutual indicated that 63% of Namibians are classified as the Sandwich Generation (have dependent children and adults who rely on them financially).

As Africans, we are raised to take care of our elders and siblings and our desire to preserve relationships within our families is important and appropriate, but as much as you want to provide support to your loved ones, you first have to set new boundaries, otherwise you will likely never accomplish your desired goal. People who continue to look to you for financial help will depend on you instead of learning how to handle money wisely.

Here are a few tips on how to set new boundaries:

  • Develop a budget and live by it.
  • First take care of yourself by ensuring that your basic needs and financial obligations are met before you commit to help or extend a loan to others.
  • Allocate a specific amount towards donations.
  • Allocate a specific amount towards short-term loans with the expectation that they will sign a note and repay you on time.
  • Identify a timeline to those you have committed to support financially and stick to that budget and duration.
  • You do not always have to give money. You can give financial counsel, wisdom and tools instead, to help people deal with their financial emergencies.
  • Inform each of your dependents privately the way that you plan to handle things in the future.

Enabling co-dependents prolongs your pain and can ruin your relationship. It also prevents them from maturing in financial matters.


Old Mutual offers On The Money Financial Education workshops for institutions. Make an appointment at:
Tel: +264 (0)61 299 3945
Email: NamibiaTrainingHelpdesk@oldmutual.com