What FNB’s customers are spending their money and eBucks on

Food and transport tops the list of items that FNB customers spend their money on.

This is according new FNB data focused on the spending patterns of FNB Gold account holders who earn a gross income of between R7,000 and R25,000 a month, collected from May to October 2017.

According to BankservAfrica’s latest Disposable Salary Index (BDSI) released in November, the BDSI real salary was R13,990 for October 2017 – meaning the data should also give a reasonable idea of what the “average” South African earner is spending their money on. FNB Gold also describes itself as a card for “middle-income” earners.

Of their total spend, Gold account holders dedicate about 28% to food and beverages and up to 13% goes to transportation, meaning these consumers will be relatively more affected by fuel increases and rising fares, said Khathu Ramoliko, head of FNB’s Gold Sub-Segment.

“Unsurprisingly, food constitutes the biggest expenditure for most consumers, which means after spending on food, whatever is left is spread across other essentials such as healthcare (1.86%) and clothing (8.10%).”

“While the price of petrol has gone down, expenditure on transport is likely to remain one of the biggest expenses for households but the strengthening of the rand could ease the pressure on consumers,” said Ramoliko.

FNB also said that consumers are also spending a notable amount of money on airtime and data, and while the average amount spent on airtime and data may seem small at about R262 per Gold customer, the frequency of purchases suggests that consumers spend on impulse as opposed to using properly structured telco packages which could help them, it said.


Ramoliko said it was also increasingly important for customers to take advantage of every benefit available to them when dealing with the tough economy – such as eBucks.

“When it comes to deciding where and how to spend your eBucks, the options are plenty. What we have noted however, is that customers use their eBucks to supplement expenses such as fuel, airtime, or data,” said Ramoliko.

“We encourage customers to learn how eBucks work to ensure they can get maximum value. Taking advantage of every benefit is crucial especially in these tough economic times where disposable income is either shrinking or stagnant.”

Read: Bitcoin is looking less and less like a currency

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What FNB’s customers are spending their money and eBucks on