Students spend more money a year than the average South African — marketing agency

Students spend more money a month than the average South African, according to a report by marketing agency Student Village.

The report, titled A Brand Me Generation, Buying Experiences, tracked 3 249 students’ spending behaviour in 2017 to learn what students spent their money on and where they get their income from.

The average student spent R32 568 a year compared to the average South African, who spent R31 215.

The report said “student spending has only increased slightly from R2 702 [in 2015] to R2 714 a month”.

Student Village’s Marc Kornberger said in the report that because inflation wasn’t taken into account, “which has hovered around the 5-7% mark … the money students are spending is worth less”.

Students spent the most on home loan repayments (R4 068), rent (R2 400), car payments (R1 576) and clothes (R1 361). There was also an increase in online shopping, “with students blurring the lines of what constitutes online shopping … and not necessarily being aware they are doing it”.

Parents and family provided the bulk of students’ spending money. Other sources of money were full- or part-time work and bursaries and scholarships, according to the report.

On average, students save 17% of their money, but this money is often budgeted for short-term events such as concerts or material goods (clothes, technology).

“Students also appear to be more financially educated or needing less information on finances, with only 29% wanting to know more about savings vs 61% in 2015,” the report said.


Court date finally set for death in detention Haffejee inquest

Another apartheid-era death will be investigated after NPA pressured to finally act

State capture commission granted a 13-month extension

Judge Wendy Hughes says this is the final extension because finality is "owed to the nation"

DA’s Moodey joins leadership race

The head of the Democratic Alliance in Gauteng says he wants to take his experience to the national level

Press Releases

South Africa’s education system is broken and unequal, and must be fixed without further delay

The Amnesty International report found that the South African government continues to miss its own education upgrading targets

Business travel industry generates billions

Meetings Africa is ready to take advantage of this lucrative opportunity

Conferences connect people to ideas

The World Expo and Meetings Africa are all about stimulating innovation – and income

SAB Zenzele Kabili B-BBEE share scheme

New scheme to be launched following the biggest B-BBEE FMCG payout in South Africa’s history

TFSAs are the gymnasts of the retirement savings world

The idea is to get South Africans to save, but it's best to do your research first to find out if a TFSA is really suited to your needs

Achieving the litmus test of social relevance

The HSS Awards honours scholarly works based on their social relevance and contribution to the humanities and social sciences

Making sense of tax-free savings and investment

Have you made the most of your tax-free investment contributions?

Response to the report of the independent assessors

VUT welcomes the publishing of the report of the independent assessors to investigate concerns of poor governance, leadership, management, corruption and fraud at the university.