Sanlam Budget Truths study: what South Africans protect when money gets tight

As Finance Minister Enoch Godongwana prepares to deliver the National Budget 2026 on 25 February, most South Africans aren’t thinking about trillions of rand, tax forecasts, or GDP growth. They’re thinking about school fees, rent and whether there’s enough left over for a cup of coffee to get you through the day. 

The things we protect in our lives often matter as much as the policies debated in Parliament, and a Sanlam survey aims to shed light on the deeply personal choices behind household budgets. It shows that while money is tight, South Africans are steadfast about what they refuse to compromise on. “I can’t skip my kids’ school fees… even if I have to skip my own treats,” one respondent said. Another confessed: “Coffee every morning is non-negotiable - it’s my sanity and my connection with my wife.”

The Sanlam Budget Truths Study surveyed adults across South Africa. It highlights three priorities that consistently top household budgets:

• Education and school fees (17.1%) – Parents spoke of pride, responsibility and a determination to safeguard the future of their children. As one parent put it: “Varsity fees for my daughter.” Another respondent said: “Education. All other things are secondary. Mandela said education is the most powerful tool to change the world.”
• Housing (15.7%) – the anchor of safety and dignity. One participant explained: “Without a roof over our heads and the basic utilities to survive, life would be unbearable.” For some, housing is also about legacy: “I am budgeting to fix my mother’s house as it is a legacy for my kids when they grow old.”
• Savings and investments (14.3%) – the quiet buffer against life’s uncertainties. “I don’t compromise on my savings; it’s how I ensure my family’s future,” said one respondent, echoing a broader desire for stability and control in uncertain times.

Other non-negotiables included healthcare (11.4%), family needs (10%), and well-being and small personal joys like a takeaway meal, streaming subscriptions, or a weekend outing (7.1%). Roxanne Tobias, Actuary and Head of Marketing and Communications at Sanlam Risk and Savings says, “When money is tight, people don’t abandon what matters most – they double down on it. What our research shows is that South Africans are budgeting with intention, not impulse. Education, a safe home, savings and even small moments of joy are not ‘nice-to-haves’; they are expressions of care, connection and long-term thinking.“Understanding your personal priorities is critical to building real financial resilience – because good financial planning starts with recognising what you are trying to protect and what will help you thrive.”She said the research revealed how often joy is described as emotional survival.

• “Going to the circus with my kids… this is something we can’t afford to lose because my kids would not be emotionally okay - it’s their favourite.”
• “Need to have a proper braai every month-end - this helps everyone unwind.”
• “At least one dinner out a month and a Starbucks.”

“Small joys are not frivolous,” says Tobias. “They are survival tools - they restore morale and remind people that life isn’t just about surviving, it’s about living.”

Connection as a Modern Lifeline

In today’s technology-driven world, connection has become an essential household budget priority. From data bundles to fibre, being online is critical not only for work and school, but for staying in touch with family and friends.

“As long as I’m connected, I can connect to the world,” said one participant.

Tobias notes that connectivity is increasingly seen as a necessity, not a luxury - a gateway to opportunity, education, employment and community in a rapidly digitalising society.

Beyond immediate family, care also stretches outward. Some respondents prioritised “treats for grandchildren”, while others named “charity to others” as something they still try to budget for - small but meaningful acts that reflect generosity even in tight times.

For South Africans looking to explore their own priorities and to help ensure there’s a ,budget set aside for their “non-negotiables”, Sanlam has developed the Financial Focus quiz. This short, interactive tool provides a personalised financial report. It assesses financial habits such as spending, saving, and budgeting, and helps build financial resilience and boost their F Factor. What is the F Factor? It’s that special something that a person exudes when they have an expert-guided plan to save, grow and protect their money. The Financial Focus quiz is available at https://www.sanlamonline.co.za/campaigns/national-budget.  

* Tobias is the actuary and head of marketing and communications at Sanlam Risk and Savings.

PERSONAL FINANCE