Financial stress: 70% of South Africans are worried about money

Anxiety over money may be at levels last seen in 2022, yet 70% of South Africans are still experiencing financial stress compared to the past two years.

Despite this decline, money concerns still impacts daily life substantially. Among those experiencing financial stress, 91% felt it affected their home life, while 73% reported an impact on their work life, and a further 73% said it affected their health. This is according to the fourth annual DebtBusters Money-Stress Tracker.

The survey polled over 27,000 respondents who are not in debt counselling during May and June 2025. It found that 70% of respondents experienced money stress in 2025. This marks a decrease from 78% in 2023 and 75% in 2024.

This overall reduction in stress is attributed to fewer national crises, such as loadshedding, reduced inflation, and people starting to better manage their finances, allowing them to look beyond short-term survival.

Yet, Benay Sager, executive head of DebtBusters, said, more than 90% of South Africans with unsustainable debt do not proactively seek professional support like debt counselling.

“This underscores the ongoing importance of stress-management programmes, financial education, and awareness campaigns that address stigma and promote early intervention,” Sager said. “It also highlights the need for innovative solutions to deal with money stress, particularly those that help consumers stretch their money further.”

The survey revealed significant debt repayment pressures. Almost two-thirds of respondents allocated around a third or more of their after-tax income to debt repayment, with almost half spending over 40% of what they earn paying back what they have borrowed – a level considered unsustainable.

People aged 45 or older are under the most severe debt-repayment pressure, with 60% having unsustainable levels of debt and all respondents earning over R20,000 a month also face considerable pressure and often take on debt they can’t afford.

Yet, the number and value of civil debt cases in South Africa have declined, according to the latest data from Statistics South Africa for May. The total value of civil judgements recorded for debt decreased by 8%, which the agency linked to smaller amounts owed from money lent and fewer written promises to pay a stated sum to a specific person.

Analysed with the help of psychologist Andrea Kellerman, the results also showed a shift in how South Africans manage money stress. While people tended to seek better jobs or start a side hustle in 2022 and 2023, and debt counselling was preferred in 2024, the 2025 survey indicates a growing emphasis on entrepreneurial efforts, multiple income streams, and financial independence.

Women reported higher levels of financial stress than men, with almost three out of four female respondents saying they suffered money worries. Women are around 10% more stressed about finances overall and are 20% more stressed about work life, home life, and health compared to men.

Short-term concerns continue to dominate for the financially stressed, with the top two being running out of money before the end of the month and struggling to pay off monthly debt. A third of respondents reported actively cutting back on monthly spending, down from 43% in 2022, suggesting that savings fatigue has set in. The impact of interest rate increases, while still significant, has subsided compared to 2023 and 2024.

Middle-aged respondents (35 – 44 years) were the most financially stressed. Concerns about retirement increased for those aged 45 and older compared to 2024, indicating that this age group is now able to look beyond immediate short-term concerns.

Lower-income groups are the most concerned about the impact of interest rate increases or unexpected expenses. While electricity costs are an elevated concern across all income groups compared to 2024, retirement worries are more pronounced in the upper-income brackets.

Regionally, people living in the Western Cape are now the most financially concerned, surpassing Gauteng, which reported the most money stress in 2024. The Western Cape is also where most people worry about unexpected expenses and retirement. Smaller provinces, such as the Northern Cape, Limpopo, and Mpumalanga, saw significant increases in concerns about electricity costs and interest rates.

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