South Africas young adults make bold yet careful financial decisions and not splurging on luxury brands on credit, as they are often stereotyped as doing, Standard Banks inaugural Youth Barometer Report has noted.
The study, which drew on insights from Standard Banks personal and private banking divisions as well as from insurance data from Liberty, showed how the banks three million clients aged 18 to 35 , from 2023 to 2025, allocated income between essentials and discretionary spending, while managing home loans, vehicle finance and insurance.
According to the barometer, more than 15 of youth in Standard Banks credit card customer base earned just over R50,000 a month, while 36 earned less than R5,000 and 43 earned R10,000 or less, signalling significant income diversity in the demographic.
Our research shows young people are making intentional, informed choices in how they spend, borrow and save, said Tshiamo Molanda, the head of youth and mass market segments at Standard Bank.
From saving for their first home to budgeting for reliable transportation often through second-hand cars and ensuring their extended families are protected with funeral cover, this generation is making thoughtful trade-offs with intent and maturity.