According to data from Standard Bank , household subscription spending has risen sharply, with high-income males over 40 reportedly spending more than R1 000/month on streaming and software subscriptions.
"We all deserve to spend a portion of our incomes on things that bring us joy and comfort. But as incomes rise, so do expenses - often unconsciously," said Doret Jooste, head of money management and advisory at Standard Bank.
"This 'lifestyle inflation', including growing subscription costs, can shrink disposable income and delay emergency savings."
Standard Bank data shows that, not surprisingly, subscription spending per household varies widely, depending on income brackets. While high-income individuals can easily spend over R1 000/month, the averages for middle- and low-income households are R482/month and R336/month, respectively.
Males over 40 are the biggest spenders, but their female counterparts are not far behind, also spending, on average, more than R1 000/month on streaming, health and fitness, and digital services subscriptions.
