MyMoney Online, Make Money Mondays

Students are in debt, yet spending like there’s no tomorrow - survey

South African students are spending like there’s no tomorrow.

This is according to the latest Student Village 2015 Student Spend Survey.

According to the survey, students spend more than the average South African consumer and that this has increased by 7.95 percent over the past four years.

The survey shows that students typically save only to buy expensive items such as branded clothing, electronics and tickets to parties and concerts.

A third of students don’t save a cent while 58 percent saves between R1 and R540 a month.

Most students indicate a willingness to learn more about saving. Only 14 percent wanted to learn more about credit.

Close to 60 percent of students are in debt. About a fifth of students have a credit card and about a quarter have a store card.

Students spend an average of R2702 per month on living expenses in 2014, up by eight percent on 2013.

The average South African spends R2100 per month.

Male students spend more than female students.

White students spend more on travel while black students spend more on going out. Black male students spend a lot on alcohol while coloured students prefer to blow it on clothing.

Listen to the audio for our interview of Ronen Aires, CEO of Student Village.

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
The cost of education (and alternatives to scrounging to afford private school)

The cost of education (and alternatives to scrounging to afford private school)

Education inflation is currently at nine percent. But that needn't exclude your child from receiving quality education.

Almost 40% of learners at Maties are black. University aiming for parity by 2018

Almost 40% of learners at Maties are black. University aiming for parity by 2018

The complexion of Stellenbosch University has radically changed since 2004, says Vice-Rector Arnold Schoonwinkel.

Get FREE textbooks, tutors, counsellors, mentors and much more in your pocket!

Get FREE textbooks, tutors, counsellors, mentors and much more in your pocket!

FREE books, study tips, live interaction with teachers, extra lessons, revision, homework help, study groups, assessments...

Healthy money habits to form while you’re still young

Healthy money habits to form while you’re still young

Cultivating healthy money habits from a young age is vital if you’re to achieve financial fitness, says Warren Ingram.

No water? No problem! Young entrepreneur profits from crisis with invention

No water? No problem! Young entrepreneur profits from crisis with invention

Ludwick Marishane talks about entrepreneurship, his water saving invention and becoming SA’s youngest patent holder at 17.

Popular articles
Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

Best bank ad ever? Andy Rice reviews Investec’s “you’re more than data”

The Money Show’s Bruce Whitfield interviews the advertising expert about the best and worst new advertisements.

Police apparently mulling over warrant of arrest after Grace Mugabe a no-show

Police apparently mulling over warrant of arrest after Grace Mugabe a no-show

EWN understands that lawyers representing the Zimbabwean first lady are negotiating with officers at the Sandton police station.

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

[LISTEN] 20-year-old SA woman traumatised by Grace Mugabe's assault

Gabriella Engels says she is saddened by people who are calling her names on Twitter before they understand the full story.

Traffic gridlocked as Imizamo yethu residents make their way to Cape Town

Traffic gridlocked as Imizamo yethu residents make their way to Cape Town

About 40 minibus taxis, in a convoy at a very low speed, are transporting Imizamo Yethu residents into CT for a planned protest.

Words you’ll hear: Grace Mugabe's latest nickname

Words you’ll hear: Grace Mugabe's latest nickname

Find out why Zimbabwe's First Lady should be dubbed with the moniker 'extension cord'.

Discovery CEO (and founder) Adrian Gore bares his soul about money

Discovery CEO (and founder) Adrian Gore bares his soul about money

The Money Show’s Bruce Whitfield interviews Gore about his attitude to money (hopes and fears, successes and failures, etc.).

Ocean Basket gives franchise owner the chop after assault video

Ocean Basket gives franchise owner the chop after assault video

The man was immediately divested of his shares and is no longer part of the group, explains Ocean Basket CEO Grace Harding.

WATCH: Cape schoolkids 'starstruck' after Trevor Noah,  Charlize Theron drop by

WATCH: Cape schoolkids 'starstruck' after Trevor Noah, Charlize Theron drop by

Oaklands High principal Reza Patel says it was an extremely exciting experience for both the learners and staff. We can imagine!

CoCT explains new electricity tariffs

CoCT explains new electricity tariffs

Following residents concerns over new electricity tariffs and properties being re-evaluated, Johan van der Merwe provides clarity.