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Every year on 16 June, South Africa marks Youth Day - a powerful reminder of how young people can challenge the status quo. Today’s youth may not be marching in the streets, but they’re still driving a quiet revolution. One swipe, side hustle and investment at a time, Gen Z is reshaping the way money works. Understanding Gen Z’s attitude towards money can help you make smarter financial decisions in a changing economy.
This generation is growing up with a natural ease in digital spaces, a broad global outlook and growing awareness of economic inequality. They’ve come of age during loadshedding, economic recessions and the cost-of-living crisis. The result? A generation that’s rewriting the rules of money out of both necessity and innovation.
By 2020, Gen Z made up 40% of global consumers. But they’re not consuming like previous generations. They’re budgeting on Google Sheets, investing on their phones and learning about compound interest from platforms such as TikTok. In short, they’re not waiting to grow up before getting smart about money - they’re already doing it and they’re doing it differently.
Investing is more accessible than ever
Once reserved for those with financial advisers, spreadsheets and trust funds, investing has become radically more accessible. Platforms like EasyEquities, Franc and Altify have broken down the barriers: no more minimums of R5,000, no more intimidating jargon and no need for a financial adviser to get started.
Micro-investing has become the norm for this generation. They’re putting R50 into ETFs, R100 into Bitcoin, or testing the waters with alternative assets. The approach is to start small, learn fast. There’s less fear of “doing it wrong” and more emphasis on progress over perfection. Unlike older generations who were told to learn first and act later, Gen Z is learning while implementing, often with the help of YouTube explainers and TikTok breakdowns.
While this approach is not without its flaws, it reflects a definite shift. Investing no longer belongs to the top earners only. It belongs to anyone with a smartphone, some curiosity and the drive to get ahead.
Side hustles move into the spotlight
Gone are the days when having one job was enough. Today’s young South Africans are running digital businesses, freelancing globally and building income streams that are anything but traditional. It's not a trend - it’s survival.
AI is disrupting traditional career paths faster than universities can rewrite curricula. So, Gen Z is getting creative: tutoring on Superprof, selling vintage on Yaga, doing freelance design on Upwork, or driving for Uber between classes. Many aren’t waiting for a “real job” to start making money. Instead, they’re leaning into income models that offer freedom, adaptability and sometimes a global reach.
What’s remarkable is the mindset shift. A side hustle isn’t just for extra cash anymore. In fact, it’s often Plan A. It’s how rent is paid, how savings are built and how passion projects take shape.
Finance on TikTok: a fresh take or a risky bet?
Social media has become a financial classroom. On TikTok and Instagram, bite-sized lessons explain budgeting, investing, taxes and saving. Creators break down complicated concepts with humour, charts and memes. What was once a serious and somewhat closed-off topic is now more engaging and community-driven.
But it’s not all good news. With accessibility comes noise and misinformation. Some “finfluencers” are thoughtful and well-informed, while others push risky crypto schemes, flex unrealistic lifestyles or oversimplify serious topics.
For Gen Z, digital literacy comes with its own set of challenges. Many are learning to approach online advice with care, cross-checking tips, asking questions and following trusted voices. And when things feel rushed or uncertain, they know it's okay to pause before making a move.
Retirement, reimagined
Ask a Gen Zer if they plan to retire at 65, and you’ll likely get a laugh. The traditional path of working for 40 years and then kicking back feels outdated and unattainable for this generation. But that doesn’t mean they aren’t planning ahead. Quite the opposite.
Many are exploring FIRE (Financial Independence, Retire Early), passive income models and long-term investing in flexible vehicles like ETFs and unit trusts. Retirement isn’t a fixed age, instead, it’s a goal to be financially free on their terms. Whether that means living off rental income or freelancing part-time, the endgame is independence, not just age.
Homeownership isn’t dead, but it’s evolved
Owning property still matters to young South Africans, but they’re approaching it with eyes wide open. High interest rates, inflation and stagnant wages have made traditional homeownership feel more like a luxury than a rite of passage.
Instead, we’re seeing creative solutions: rentvesting (renting where you live, buying where you can afford), co-buying with friends or siblings and opting for fixer-uppers over flashy new builds. Some are even flipping properties as another income stream.
Flexibility matters. For many, the idea of home is shifting and becoming less about traditional ideals and more about what makes sense financially over the long term. The focus is often on creating stability rather than chasing status.
Financial freedom, on their terms
The financial habits of South Africa’s youth are not necessarily better or worse than those of older generations. They’re simply a response to a very different reality: one shaped by digital tools, economic turbulence and a deep desire for independence.
This is a generation that doesn’t wait for permission. They open investment accounts in between lectures, side hustle between shifts and learn money skills on their phones. They approach finance with a mix of caution, curiosity and creativity.
On Youth Day, it’s worth remembering: Gen Z isn’t just inheriting the economy - they’re reshaping it their way.