Buy onlineThird annual Youth Generational Debt Survey reveals growing concern around inherited financial pressure, black tax and the rising cost of living.
Nearly 70% of South Africans associate generational debt with passing financial burdens on to future generations, while almost two-thirds believe life insurance plays an important role in building generational wealth. These are among the key findings from the third annual Youth Generational Debt Survey conducted by 1Life Insurance, which explores how South Africa’s youth are navigating debt, financial responsibility and long-term wealth creation in a challenging economic environment.
The survey, conducted in May 2026, gathered insights from respondents across South Africa and paints a picture of consumers who remain financially strained, yet deeply motivated to create better futures for their families.
The findings reveal that:
- 67 % of respondents associate generational debt with debt being passed down to children or dependants
- 27% of respondents associate generational debt with black tax and family financial obligations
- Around 30% report that debt and financial pressure are preventing them from saving for long-term financial security
- 70% strongly believe that life insurance plays an important role in building generational wealth
- Almost half (47%) of respondents say they do not intend to leave debt behind for future generations
According to Hayley Parry, Money Coach and Facilitator at 1Life's Truth About Money, the findings reflect a significant shift in how South Africans think about money, family responsibility and financial legacy.
“South Africans are increasingly viewing financial security through a generational lens. People are no longer only focused on surviving month to month — they are thinking more intentionally about the kind of financial future they leave behind for their children and families,” says Parry.
The survey also highlights the emotional weight many consumers carry as primary breadwinners and financial supporters within extended families. “Many South Africans are balancing personal financial goals alongside the responsibility of supporting parents, siblings and other dependants. This creates immense pressure, particularly in an environment where the cost of living continues to rise,” Parry explains.
Despite this, the survey reveals a strong sense of optimism and determination among respondents, with many actively seeking ways to break cycles of debt and build lasting financial stability. “Encouragingly, we are seeing more consumers understand that generational wealth is not only about having significant assets. It is also about protecting families from financial vulnerability, having proper financial planning in place and creating stability for future generations,” says Parry.
The findings further suggest that consumers increasingly see life insurance as more than a product for funeral or death-related expenses, but rather as a practical tool for protecting wealth, preserving dignity and ensuring continuity for loved ones.
Parry says financial education remains critical in helping South Africans make informed long-term decisions. “There is still a significant need for accessible financial education that helps people understand debt, budgeting, saving and long-term planning in practical ways. Small financial decisions made consistently over time can fundamentally change the trajectory of a family’s future,” she concludes.
As economic pressure continues to reshape household finances, the survey points to a growing national conversation around financial resilience, family responsibility and the importance of building wealth that lasts across generations.