Debt repayments are crushing South Africans' finances – 1Life Survey
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GUEST – Hayley Parry, Money Coach and Facilitator at 1Life’s Truth About Money.
The latest annual 1Life Insurance Generational Wealth Survey reveals that the majority of South Africans are struggling to accumulate wealth due to financial constraints, with many forced to take on additional jobs or side hustles to make ends meet.
The 2025 survey found that 55% of respondents had to supplement their income by taking on another job or starting a side hustle. Of these, 44% rely on this extra income to cover their monthly expenses, while only 3% are able to use it for leisure activities such as travel and entertainment. Alarmingly, 65% of respondents stated that, when considering their current financial situation, they cannot afford to generate wealth.
The latest annual 1Life Insurance Generational Wealth Survey reveals that the majority of South Africans are struggling to accumulate wealth due to financial constraints, with many forced to take on additional jobs or side hustles to make ends meet.
The 2025 survey found that 55% of respondents had to supplement their income by taking on another job or starting a side hustle. Of these, 44% rely on this extra income to cover their monthly expenses, while only 3% are able to use it for leisure activities such as travel and entertainment. Alarmingly, 65% of respondents stated that, when considering their current financial situation, they cannot afford to generate wealth.