Young South Africans are increasingly financially aware, digitally connected and eager to improve their financial wellbeing, yet many continue to struggle with traditional budgeting approaches that fail to reflect the realities of modern life.
According to FNB, the challenge is not that young people don’t care about managing their money. Rather, many are navigating complex financial lives shaped by irregular income, rising living costs, side hustles, family commitments and growing economic uncertainty.
“There is a common perception that young people are reckless with money, but that’s not what we are seeing. Many young South Africans are actively trying to budget, save and build a better future. The challenge is that conventional financial advice often assumes stable incomes and predictable expenses, which simply isn’t the reality for a large number of this generation,” says Nthabiseng Manamela, Executive Head of Strategy and Growth at FNB and WesBank.
Today, a young professional may earn a salary while running a side hustle, freelancing on weekends or supporting family members. At the same time, escalating costs for transport, food, data, accommodation and everyday essentials are putting pressure on disposable income. This has created a new financial reality where young people want greater control over their money, but without feeling restricted by rigid budgeting rules.
“Most young people don’t necessarily need another lecture about cutting back on coffee or entertainment,” says Manamela. “They need simple, accessible tools that help them understand their spending habits, identify opportunities to save and make informed decisions that fit their lifestyle.”
FNB believes the future of financial wellness lies in helping young people move from awareness to action. Whether it’s stretching a salary to month-end, saving for a first car, building an emergency fund, funding further studies or growing a side hustle, financial solutions must be designed around real-life goals rather than products.
To address this need, FNB offers nav» Youth, a digital platform available on the FNB App that provides practical financial and lifestyle guidance tailored to young people’s circumstances and ambitions.
The platform combines educational content, financial tools, calculators, Life Keys and a Money Personality Quiz to help users better understand their financial behaviour and make more confident decisions. It also provides guidance on topics such as saving and investing, building credit readiness, growing a side hustle, preparing for employment opportunities and planning for future milestones. Importantly, Nav Youth recognises that there is no single youth experience.
The needs of a student are very different from those of a graduate, young entrepreneur or first-time employee. What they have in common is the need for guidance that is relevant, practical and easy to access. Financial confidence is built through small, consistent decisions, and that’s where the right tools can make a meaningful difference.
“Our role in the youth market extends beyond providing bank accounts. The broader opportunity is to support young people throughout their financial journeys, from their first earnings and savings goals to their first credit decisions and long-term wealth-building ambitions,” says Manamela.
“Young South Africans are managing increasingly complicated financial lives in a challenging economic environment, giving them practical tools that fit their reality, we can help turn everyday money decisions into long-term financial progress,” concludes Manamela.
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