Site url:
Pagecontext: org.apache.jasper.runtime.PageContextImpl@b357ed5
  • Brand resource centre
  • #AdviceForSuccess Resource centre
  • #SheOwnsHerSuccess Resource centre
  • #SuccessIsAScience Resource centre
  • Insights
  • Videos
  • Pledge
  • Press releases
  • 7 Financial habits
  • Event photo gallery


SA Households 2023

Son and father looking at jar full of coins.

Income groups

Just more than 10% of households earning R840 000+ p/a were financially literate.

Close-up image of a man’s hands holding a calculator while taking notes.

Wellness indicators

2 Household wellness indicators deteriorated (ability to take control & income).

A couple sitting on the couch with a laptop and documents on the table in front of them.

Financial literacy skill

Possessing financial literacy as a skill does improve financial outcomes.

Two women graduates embracing each other while smiling.

Financially literate graduates

Just more than 20% of graduates and postgraduates are financially literate.

Women in the shopping isle of a grocery store, leaning on her trolly while looking at her cell phone.

Higher wealth groups

Financially literate groups have a healthier outcome in the form of higher wealth.

Family sitting amongst boxes in a new house with the children playing in the boxes.

Control & education

Households with a high level of financial literacy may realise better financial outcomes.

Couple looking concerned sitting in front of a table with a laptop and documents.

Interest & returns

Calculating interest and returns financial calculations was households’ biggest struggle.

Mature couple sitting on a couch as the man shows the woman an empty wallet.

Distressed households

The number of financially distressed households has more than doubled between 2021 and 2022.

A young couple sitting with a financial adviser going through documents.

Financial literacy

46% of households deemed themselves financially literate, but only 15% were actually financially literate.

A mature women sitting alone looking worried as she reads a document.

Age groups

The youth and eldest are the least financially literate compared to other age groups.

A happy couple taking a walk outdoors.

Knowledge gap

There is a gap between financial knowledge & being empowered to make your money work.

Young woman sitting and looking at her laptop while smiling.

Financial calculations

Only 9.4% of all households tested financially literate on financial calculations.

SMMEs 2023

A florist standing cutting flowers in a flower shop.

Business financials

The number 1 success factor for side hustlers is their business financials (58%).

Small business owner standing excitedly in front of her laptop while on the phone.

My business won’t fail

An optimism bias sees SMME & side hustlers believe that their business won't fail.

Woman standing with a small wooden block in each hand with one written “pros” and the other “cons”.

Pros and cons to side hustles

Considering time & effort, there are pros & cons to how SMMEs & side hustlers earn.

Woman smiling while in front of workshop counter with a cell phone in her hand.

Success to SMMEs

Most SMMEs & side hustle owners define success through financials, goals & personal impact.

Concerned man sitting looking at receipts while using a calculator.

Indices rating

Most SMMEs & side hustle owners feel they underperformed with a rating of 6.4 out of 10.

Father showing his son how to cut a piece of wood with a saw.

Emotional drivers

Motivation for success is anchored in personal & family foundational elements.

An open notepad placed on a work desk with the words “new mindset, new results” written on it.

Personal failure

Business failure can cause SMME & side hustle owners to experience a sense of personal failure.

A man and women standing in a warehouse taking stock of boxes of shelves.

Employing staff vs not

In 2022 Q3, there were 2 683 603 SMMEs. 958 429 employ workers while 1 725 174 only employ the owner.

Fashion designer sitting at her work desk looking excitedly at her phone.

More household with side hustles

Approximately 12% of households in SA had a side hustle last year.

A content creator shooting herself unboxing a package.

Embracing entrepreneurship

An estimated 10.5% of employees have a side hustle.

Woman smiling looking at her phone.

Creating a formula for success

70% of the individuals that have a side hustle feel they almost always are responsible for their future.

We and our selected partners use cookies to enhance and personalise your experience on our website.Please see our cookie policy for more information.

To enhance your user experience on our site, learn more about our supported browsers

Your browser's cookies are disabled. Enable cookies to ensure our website functions correctly. View our Privacy Notice.

Tell us more!

We're always looking for ways to improve your online experience. Please take a moment to complete the
2-minute questionnaire.