As South Africa marks World Savings Day today, new data shows that for many young people, saving is more about survival than wealth creation. High unemployment, wages that have failed to keep pace with inflation, and rising living costs, have equated to mounting pressure to stay afloat financially.

As South Africa marks World Savings Day today, new data shows that for many young people, saving is more about survival than wealth creation. High unemployment, wages that have failed to keep pace with inflation, and rising living costs, have equated to mounting pressure to stay afloat financially.

With youth unemployment sitting at 62.4% for those aged 15-24, young South Africans are entering an economy where basic living costs swallow up most of what little income they earn. Saving, for many, isn't a lifestyle choice - it's a luxury.

This is not a case of carelessness or poor discipline. It's one of pressure, trade-offs and persistence. Data from the 2025 Zaka Index - commissioned by the Sanlam Foundation in partnership with financial education platform Blackbullion - reveals a fragile financial foundation, with 82% of employed young people earning less than R6,000 a month. That is a precarious footing where even a small shock can unravel everything. Over half of those surveyed say they feel financially stressed every day.

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Vicious squeeze of essential expenses

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