How South Africans are navigating financial challenges according to the SpendTrend25

IF you're curious about how South Africans are coping financially, ditch the dramatic headlines and take a closer look at the numbers.

- DIEKETSENG MALEKE

The SpendTrend25 report by Discovery Bank and Visa doesn’t just skim the surface; it digs deep into the nitty-gritty of how we're swiping cards, saving cents, and navigating the economic chaos. Spoiler alert: what it uncovers is sobering, layered, and undeniably real.

Now in its third edition, the SpendTrend25 isn’t just data for data’s sake. It’s a reflection of our resilience, choices, and sacrifices, a snapshot of wallets under pressure yet brimming with innovation.

Let's talk tech. Over 80% of South Africans prefer card or digital payments. It’s a clear sign that we’re embracing a tech-forward lifestyle, where even the most unlikely corners are going cash-free.

But while we might be swiping and tapping, the reality isn’t all smooth sailing. Banking security fears are gripping us more tightly than ever, with three in five South Africans admitting they’re more concerned now than a year ago. It’s a paradox, trust in the system is growing, but so is the anxiety.