For many South Africans, payday has become less about getting ahead and more about trying to catch up.
The salary comes in, debit orders go off almost immediately, and before long, there’s little left for groceries, fuel, electricity or unexpected expenses. For some households, making it through the month means relying on credit cards, overdrafts or personal loans just to cover the basics.
It’s a reality that is becoming increasingly common across the country. According to the latest DebtBusters Money Stress Tracker, 72% of South Africans say they are experiencing financial stress, with the cost-of-living replacing interest rates as the country’s biggest financial concern for the first time since the survey began.
The findings suggest that while interest rate cuts have offered some relief, rising day-to-day expenses are placing households under even greater pressure.
Over the past few years, South Africans closely watched every South African Reserve Bank interest rate announcement, hoping lower borrowing costs would ease financial pressure.
Today, that concern has shifted.
According to DebtBusters, consumers are now far more worried about simply keeping up with everyday expenses. Concerns about inflation have increased by 28% over the past year, while worries about electricity costs have almost doubled, rising by 99%.
Food prices, municipal tariffs, transport costs, school expenses and insurance premiums continue to take bigger bites out of household budgets. Although inflation has slowed compared with previous years, prices remain significantly higher than they were before the cost-of-living crisis began.
For many families, the challenge isn’t that prices are rising overnight; it’s that prices have stayed high while incomes have struggled to keep pace.
One of the survey’s most concerning findings is how much of their income South Africans are using to repay debt.
DebtBusters found that 53% of respondents now spend more than 40% of their take-home pay on debt servicing, up from 48% last year. Even more worrying, more than a third of respondents said half or more of their salary goes towards debt repayments alone. Financial experts generally regard spending more than 40% of take-home pay on debt as unsustainable.
This leaves very little money for essentials such as groceries, transport, school fees and healthcare.
Benay Sager, executive head of DebtBusters, described this trend as one of the survey’s biggest concerns because it leaves households with little financial flexibility when unexpected expenses arise.
One of the biggest misconceptions about financial stress is that it only affects low-income earners. Consumers earning more than R20,000 a month were found to be under the greatest debt repayment pressure. According to DebtBusters, 75% of people in this income bracket spend more than 30% of their after-tax income on debt repayments, making them some of the most financially stretched consumers in the country.
While they earn more than the average South African, they also tend to have larger financial commitments.
Home loans, vehicle finance, credit cards, personal loans, school fees, medical aid and insurance premiums all compete for a share of their monthly income. By the time these expenses are paid, many are left with little disposable income despite earning what many would consider a comfortable salary.
The findings highlight that financial pressure is no longer limited to lower-income households; it is affecting South Africa’s middle class as well.
The survey also found that women remain significantly more financially stressed than men, continuing a trend seen in previous years. According to DebtBusters, women reported higher levels of concern across almost every financial category, with retirement being the only exception.
This reflects the reality faced by many South African women, who often manage household budgets while also supporting children, elderly relatives or extended family members.
As the cost-of-living rises, balancing these responsibilities becomes increasingly difficult, particularly for single-income households and single parents.
Financial stress is also weighing heavily on younger consumers.
According to the survey, three-quarters of South Africans under the age of 35 say they feel anxious or stressed about their finances. Among those aged 24 and younger, financial anxiety has increased by 18% compared with last year.
Many young adults are entering the workforce during a period of high living costs while trying to repay student debt, build careers and save for major milestones such as buying a car or home.
For many, those financial goals are becoming increasingly difficult to achieve.
The impact of financial stress extends beyond monthly budgets.
DebtBusters found that home-life stress has reached its highest level since the Money Stress Tracker began five years ago, highlighting the emotional toll that financial pressure is taking on South African households.
Money worries can affect relationships, sleep, mental wellbeing and productivity at work. Constantly worrying about whether there will be enough money left after paying bills has become a familiar feeling for many consumers.
It’s no longer just about making ends meet it’s about managing the emotional strain that comes with living under ongoing financial pressure.
Despite the challenges, the survey suggests that South Africans are not standing still.
Many respondents said they are budgeting more carefully, searching for better-paying jobs or additional sources of income, while more people are considering professional debt counselling. In fact, the proportion of consumers who said they would consider debt counselling increased from 36% last year to 40% this year.
These findings suggest that while financial pressure remains widespread, many consumers are actively looking for ways to regain control of their finances rather than ignoring the problem.
The latest DebtBusters Money Stress Tracker paints a sobering picture of South Africa’s financial reality. Rising living costs, growing debt repayments and stagnant household budgets are placing millions of consumers under strain, regardless of how much they earn.
The survey also shows that the burden is not shared equally. Women continue to report higher levels of financial stress, younger consumers are becoming increasingly anxious about their financial futures, and middle-income earners are discovering that larger salaries do not necessarily provide financial security.
For many households, the challenge is no longer simply managing debt or hoping for another interest rate cut. It’s finding enough money to cover the essentials in an economy where the cost of living continues to outpace household incomes.
