More bad news for the middle class in South Africa
Middle-class South Africans continue to be under significant financial pressure, and experts have warned this is starting to take a notable toll on their mental health.
Dr Tumi Mashego, a clinical psychologist, highlighted the emotional toll that financial pressure is taking on South Africa’s middle class.
She flagged this growing concern following the release of the 2025 DebtBusters Money-Stress Tracker.
The Money Stress Tracker is based on a survey of over 27,000 respondents, making it one of the largest surveys conducted in South Africa. It measures household finances and consumer stress.
The report tracks stress and financial health levels across income groups, locations, ages, and genders, showing which groups are most at risk of losing control of their finances.
The survey reported that, on average, 48% of households spent more than 40% of their disposable income on debt.
“Anything beyond 40% is unsustainable,” the group said, adding that spending more than 50% was critically unsustainable and that the 30% to 40 % range is the “danger zone.”
By its metrics, 63% of South African households are in the danger zone. Additionally, 70% of respondents said they were financially stressed. It’s slightly better than last year, which stood at 75% or 78% in 2023.
However, Mashego said that although the numbers have dipped slightly, the situation is far from resolved, particularly for those earning above R20,000 per month.
“The strain for people earning more than R20,000 a month hasn’t eased at all,” she said.
“We know a lot about the numbers, about inflation, how people manage debt, but what we perhaps don’t talk about enough is the emotional and psychological strain of financial pressures.”
She said this strain can manifest in deeply personal ways. “It can do with a feeling of guilt that you’re letting family members down,” Mashego noted.
“There might be children who are hoping to advance in some way, educationally, socially, or in terms of their sporting or cultural aspirations. And there are family members who depend on you.”
Stress needs to be considered in the workplace
Mashego believes it’s important to go beyond the numbers and understand the deeper, less visible consequences of financial stress.
She said financial pressure is not just a background concern but is often central to the reasons people seek psychological help.
“Financial stress is crippling, and it is so common because of the era we’re living in. Everything is expensive, and affordability is a huge issue.” The impact extends to relationships as well.
“Couples and families are struggling. Financial pressure often leads to guilt, resentment, and conflict, especially when one person is carrying the burden for a larger group of people,” said Mashego.
Mashego pointed out that changes in household income, going from two salaries to one, for instance, can cause a shift in family dynamics and introduce serious emotional strain.
“It can bring anxiety, depression, a sense of hopelessness and helplessness.”
She also touched on the additional pressures brought on by social media. “Social media is quite influential in how we interpret what we’re going through,” she said.
“It’s not a real place, but people post lives that make you feel like you’re lacking. That creates even more stress, especially if you’re already struggling.”
Mashego warned that the fear of financial failure can have a direct impact on work performance.
“If you’re working with a terrible fear of failure, like losing your job, it’s hard to do your best. You’re not going to be productive, and it affects team dynamics too.”
Mashego stressed that due to the growing stresses on the middle- and working-class, there needs to be a de-stigmatisation of mental health in the workplace.
“Not just one-on-one therapy, but creating spaces for psychologists or coaches to build awareness and foster healthier environments.”
Mashego’s key message is that financial pressure is not just an economic problem but a mental health crisis that affects people’s well-being, relationships, and productivity and must be treated as such.
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