NedFinHealth Monitor 2025: Mixed financial confidence in South Africa
Working South Africans are showing stronger day-to-day money management in 2025, but confidence about long-term financial security remains uneven, according to the latest NedFinHealth Monitor.
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Now in its third year, Nedbank’s annual study tracks the financial wellbeing of employed South Africans across spending, saving, borrowing and planning behaviours.
While improved budgeting, debt control and short-term financial discipline are lifting everyday financial health scores, many consumers remain uncertain about their ability to meet future goals such as retirement readiness and emergency savings. The findings point to progress in financial habits, tempered by lingering concerns about long-term stability.
The latest results show that overall financial health has improved for the third consecutive year, rising to 56.4 in 2025, up from 54.8 in 2024 and 53.1 in 2023. The improvement reflects stronger performance across several money-management indicators, including spending discipline, debt management and bill payments.
The improved 2025 score comes on the back of a more supportive economic backdrop. Inflation remained within the South African Reserve Bank’s target range during the 2025 year, while five consecutive interest-rate cuts have reduced pressure on heavily indebted households. These shifts are reflected most clearly in the Monitor’s day-to-day indicators.
The Spend category shows a notable improvement, with close to half of respondents now spending less than they earn. This marks a meaningful shift from 2023, when fewer than four in 10 respondents reported spending less than their income.
The overall Spend score increased to 55.9 in 2025, up from 52.8 in 2024 and 51.2 in 2023, reflecting improved control over day-to-day expenses. Scores for paying bills on time and managing monthly expenses both increased compared to 2024.
The Borrow category also strengthened, with respondents reporting improved debt manageability as repayments became more affordable in a lower interest-rate environment. The Borrow score rose to 58.5 in 2025, rebounding from 56.3 in 2024 after a period of pressure during the high interest-rate cycle.
Savings behaviour has continued to recover from a weak base in 2023, improving to 54.3 in 2025. “The Save score has risen steadily over the past three years, supported by an increase in the number of respondents who report having at least three months’ worth of savings set aside,” says Frank Magwegwe, Nedbank Executive: Financial Wellness and Advisory.
“Encouragingly, the data also points to a gradual shift in mindset, with more respondents indicating a focus on retirement provision and longer-term wealth building.”
Future confidence weakens
However, the indicators linked to longer-term financial and investment planning and confidence in meeting future financial goals remained flat in 2025, with some edging slightly lower.
“The 2025 findings show that many working South Africans are starting to feel some relief in their everyday finances,” explains Magwegwe. “However, the results also show that feeling more in control today does not automatically translate to confidence about the future.”
The Planning category continues to show the least improvement year on year, with the overall Planning score remaining largely unchanged at 54.6 in 2025, revealing the challenge many households still face in moving beyond short-term stability to longer-term security.
The proportion of respondents reporting no confidence at all in achieving their long-term financial goals also increased slightly year-on-year.
“There is a clear gap between coping and planning,” says Magwegwe. “Many people are doing the right things to manage their money month to month, but uncertainty about the future, limited financial knowledge and concerns about risks such as fraud are holding them back from planning with confidence.”
Demographic financial gaps
The data also reveals meaningful differences across demographic groups. Respondents earning more than R25,000 per month recorded Save scores well above the national average, while lower-income groups remained more exposed to financial shocks despite improvements in day-to-day money management.
Women tend to outperform men on day-to-day money management and younger respondents, particularly those in Generation Z, show relatively strong spending and saving behaviours, but lower confidence when it comes to long-term planning.
According to Magwegwe, these patterns highlight the importance of practical, accessible financial guidance that meets people where they are. “Improving financial health is not just about income or interest rates; it’s about building skills, habits and confidence over time,” he says.
“When people understand their money better, they are more likely to plan ahead and make informed decisions. This year’s NedFinHealth Monitor findings reinforce the clear need for continued collaboration across sectors and organisations to strengthen financial education, promote responsible borrowing and support long-term financial planning.”
The full NedFinHealth Monitor 2025, along with tools and resources to help individuals assess and improve their own financial health, is available on Nedbank’s MoneyEdge platform.