As the longest month of the new year draws to a close, many South Africans are approaching 2025 with surprising optimism.
What’s not surprising is that many South Africans overspent during the December holidays – and the most popular goal for the year is paying off debt. That’s according to leading South African research company infoQuest, which recently surveyed 401 respondents representing diverse demographics.
“This blend of resilience and forward-thinking is shaping a hopeful vision for the year ahead,” says Claire Heckrath, MD of infoQuest.
Respondents were asked about their holiday spending habits, financial outlook for 2025, and views on the country’s key priorities. The survey also revisited emigration plans compared to 2022, uncovering some intriguing trends.
Here’s what the findings reveal
Nearly 60% of South Africans overspent during the December holidays, with only 1 in 3 managing to stick to their budget. This overspending poses challenges for early-year expenses like school uniforms and stationery, especially as January pay-day often falls after the start of the school term.
Interestingly, South Africans are quite positive about their financial outlook for the year, with 70% having a positive expectation for their financial situation. Older consumers (those aged 50+) feel less positive from a financial perspective.
Additionally, consumers are surprisingly optimistic about the country’s energy situation, with more than half (55%) confident that there will be a stable power supply in 2025.
Personal financial priorities for 2025
• Paying off debt (26%)
• Starting a business (16%)
• Saving for retirement (14%)
• Saving for emergencies (11%)
• Saving in general (10%)
The primary focus for the country is job creation with emphasis also placed on reducing corruption and crime.
About 70% of working South Africans currently feel secure in their jobs (with 41% feeling ‘very secure’). That means that about 1 in 3 (30%) are unsure or are feeling insecure.
Fascinating insights surfaced when exploring South Africans’ attitudes toward emigration.
Comparing January 2025 results to those from September 2022 reveals a clearer divide: more people have firmly decided whether to stay or leave, with fewer remaining undecided or ‘on the fence.’
Despite economic challenges, such as inflation, high unemployment rates, and slow economic growth, South Africans are approaching their financial futures with renewed hope.
Many individuals are focused on their primary financial goals, including paying off debt, building savings, and starting their own businesses. These goals reflect an optimistic spirit, as well as a determination to regain control over their finances and improve their personal economic stability.
Entrepreneurial ambition
“This entrepreneurial ambition also signals a desire for independence and the creation of new economic opportunities, which is especially important in a country where job creation remains a top priority,” says Heckrath.
“The optimism is uplifting, but South Africans recognise the importance of staying grounded and practicing smart financial management,” Heckrath points out.
‘With unemployment still a significant challenge, securing stable income remains difficult for many. This makes it all the more critical to spend wisely, prioritise savings, and seek professional financial advice to navigate the year ahead successfully.’
