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.


This article first appeared on 702 : Students are in debt, yet spending like there’s no tomorrow - survey


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
#ANC54 Final Top 6 Nominees

#ANC54 Final Top 6 Nominees

The African National Congress (ANC) has announced its official nominees for the party's top leadership.

When nominations at  ANC’s ‘terrible, but awesome’ conference can begin

When nominations at ANC’s ‘terrible, but awesome’ conference can begin

702/CapeTalk presenter Eusebius McKaiser interviews veteran journalist Karima Brown and HuffPost SA’s Carien du Plessis.

‘A spectacular display [by Baleka Mbete] of sucking up to ensure a paycheque’

‘A spectacular display [by Baleka Mbete] of sucking up to ensure a paycheque’

eNCA’s Jeremy Maggs interviews political puppet Chester Missing about his views on Baleke Mbete’s endorsement of Cyril Ramaphosa.

ANC decides it will have only one Deputy President

ANC decides it will have only one Deputy President

The bid to introduce a second Deputy President has failed.

Zuma went for everyone he considers an enemy - Justice Malala

Zuma went for everyone he considers an enemy - Justice Malala

On Saturday, the President delivered his political report with a few scathing words directed at his detractors.

'Banned ANC delegates have shot themselves in the foot, got what they deserved'

'Banned ANC delegates have shot themselves in the foot, got what they deserved'

Deputy Editor of Financial Mail, Sikonathi Mantshantsha says branches were warned but did not listen, and he has no sympathy.

Adam Habib: Where would the money to fund free education come from?

Adam Habib: Where would the money to fund free education come from?

Vice-Chancellor of Wits University Adam Habib says Zuma's promise requires about R40 billion in order to be fulfilled.

LISTEN: Father of drowned toddler speaks of dangers and heartbreak

LISTEN: Father of drowned toddler speaks of dangers and heartbreak

Connor Weber, fell unnoticed into a bin of water and drowned.