A recent study revealed that while women demonstrate more responsible debt management compared to men, they face a higher level of financial strain, with pressure related to household life among women reaching a five-year high.
According to the report published in March 2026 in the South African Journal of Economics, men were more likely to have debts than women. Among couples participating in the study, 44% of men had outstanding debts, while 37% of women were found to have them.
The difference was also noticeable in the amounts of debt: on average, indebted men had 61% more financial obligations than women, and their real estate debt burden was 22% higher. Men were more likely to accumulate debt across various categories, including property, vehicles, and financial liabilities.
Latest credit data from Standard Bank confirms this trend. In 2025, the average outstanding balance of unsecured credit for women was 8.45% lower than for men, and women also demonstrated higher credit scores.
However, the bank noted that despite more responsible credit management, fewer women actively monitor their credit scores. The bank reported that only 42% of users who set up the Standard Bank credit score feature are women, even though the app has a larger proportion of female users.
Borrowing Models
A series of gender equality data from Stats SA for the period 2014–2024 also highlighted differences in credit usage between men and women. Men were more likely to take out loans from banks, whereas women were more likely to use other formal, non-bank sources.
Furthermore, female-headed households were slightly more likely to make timely payments on credit cards, debt consolidation, and other banking obligations compared to male-headed households.
Nedbank's Financial Health Monitor for 2025 showed that women described their debt as manageable more often than men (43% versus 36% of men), although women were more prone to taking out personal loans.
Financial Independence
The bank pointed to a growing sense of financial independence, especially among higher-income individuals and women. The Nedbank report noted that most middle and high-income earners, women, baby boomers, and those living within their means have a clearer understanding of their available monthly funds.
At the same time, 28% of both men and women reported having some debt exceeding what they could comfortably service. A lower level of debt did not lead to reduced financial worries.
According to the fifth annual Money Stress Tracker by DebtBusters, which surveyed about 18,000 respondents, 72% of South Africans admitted to experiencing financial stress. This figure has decreased from a peak of 78% in 2023 but remains elevated.
Women continue to suffer from higher financial stress than men across seven out of eight key indicators, excluding pension savings. Household-related stress among women reached a five-year high, as immediate household needs take priority.
Psychologist Andrea Kellerman warned that when financial pressure penetrates the home, emotional recovery becomes difficult. She stated: '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.'
These findings come against the backdrop of ongoing pressure on South African households. DebtBusters' first-quarter debt index showed that consumers seeking debt advice spent 64% of their net income on debt servicing, compared to 73% five years ago. Nevertheless, new applicants averaged 8.5 credit agreements, the highest level since 2017. Personal loans were particularly common among those seeking debt advice, with 96% of them having such a loan at the time of application, and another 61% having a monthly or payday loan.
