South African youth face rising financial stress and debt

Financial stress among South Africans aged 24 and younger has increased by 18% over the past year, according to the DebtBusters Money-Stress Tracker survey. This demographic is facing mounting pressure as they enter the workforce in an increasingly expensive economic environment.

Applications for debt counselling among those aged 24 and younger have seen a significant rise. While this group consistently accounted for less than 2% of applications between 2016 and 2024, that figure rose to 4% in 2025 and reached 9% in 2026.

Key drivers of this anxiety include the rising cost of living and electricity costs, which have overtaken interest rates as primary concerns. Young adults, often on entry-level salaries, are struggling with the costs of transport, food, accommodation, and communication. Despite these challenges, some reports indicate that younger consumers are taking proactive steps toward financial resilience by budgeting and seeking debt counselling earlier to prevent unmanageable debt.