According to the fifth annual DebtBusters Money-Stress Tracker report for 2026, which surveyed approximately 18,000 respondents, more than seven out of ten South Africans are experiencing significant financial stress. This stress is attributed to sharp increases in electricity prices and the general rise in the cost of living, pushing family tension to a level unseen in the last five years.
Overall, 72% of South African citizens admitted to having financial stress. This is slightly higher than last year's figures and marks a reversal of the steady decline observed since the peak of 78% in 2023. The impact of this pressure on households has been substantial: the level of family stress jumped to 42%, exceeding the 2025 figure by over a third and representing the highest level since the tracker's launch in 2022.
Cost of living overshadows interest rate concerns
After two years dominated by concerns related to rising interest rates, short-term worries about the cost of living have become the primary consumer concerns. The main anxieties in 2026 relate to running out of funds before the end of the month and meeting monthly debt obligations. Worry about inflation and general living expenses increased by almost a third, while concern over electricity tariffs soared by 99% compared to 2025.
Debt burden
These rising expenses have intensified the pressure to repay debts across all income groups. More than half of those surveyed spend over 40% of their net income, after tax, solely on debt servicing.
Strain among the middle class
Those earning over R20,000 per month feel the greatest debt pressure. Benay Seeger, CEO of DebtBusters, noted that 75% of this group spends more than 30% of their after-tax income on debt repayment.
Women and youth bear the brunt. Young South Africans and low-income individuals report the highest levels of anxiety. Three-quarters of respondents under 35 reported financial stress, and financial anxiety among those aged 24 and under increased by 18% year-on-year. Women continue to face higher levels of financial stress than men across seven out of eight key indicators, excluding pension savings. Consequently, family stress among women reached a five-year high as basic household needs become the priority.
Psychologist Andrea Kellerman warned that when financial difficulties penetrate the home, emotional recovery becomes extremely difficult. According to her, 'emotional resources are depleted, patience decreases, communication deteriorates, and conflict becomes more likely. Gradually, the home stops being a place of recovery and turns into another source of psychological pressure.'
Despite the pressure, Seeger pointed to signs of consumer resilience and active financial planning. Young consumers are 1.5 times more likely to budget, four times more likely to seek higher-paying jobs, and show 58% greater willingness to address their debt problems. Across the country, citizens are engaging in side hustles—such as selling handmade goods, online trading, or renting out spare rooms—to increase income. Furthermore, the stigma associated with seeking help is weakening: negative attitudes towards debt counseling have decreased by 23% in the last three years. Seeger expressed optimism, believing that increased awareness and willingness to act will prompt 80% of South Africans burdened with unsustainable debt to seek help and restore their financial well-being.