Valentine's Day spending exposes South African financial fragility

As Valentine's Day approaches, South Africans appear ready to lavish their loved ones with extravagant gifts, but many are doing so on credit, raising concerns among financial experts. According to Sebastien Alexanderson, the head of National Debt Advisors, the prevailing economic climate has led to an increase in credit reliance, as households continue to grapple with stagnant salaries that fall short of rising costs. "Salaries continue to lag behind rising costs such as food, petrol, school fees, and everyday essentials, especially following the Janu-worry scrape-through," Alexanderson explains.

Despite the positivity associated with the rand stabilising around the R16 mark against the dollar and inflation easing to between 3.4% and 3.5%, many South Africans remain under significant financial pressure. In fact, access to credit has expanded rapidly, with new credit card originations jumping 36.5% year-on-year in 2025. In 2024, overall consumption-led credit grew by 16.8%, illustrating how credit has become a gap-filler for many consumers trying to maintain their lifestyles.

TransUnion data further reveals that, by 2025, South Africa had 7.4 million active credit card accounts — a 3.7% rise from 2024. The problem? Consumers are increasingly turning to credit cards for everyday expenses and lifestyle desires, as emotional expectations about love and romance escalate during this season.

"February is when financial pressure, emotional expectations, and debt collide," Alexanderson states, suggesting that Valentine's Day acts as a significant stress test for financial compatibility within relationships. This annual occasion does not create financial issues, but rather exposes pre-existing troubles. The phenomenon — often referred to as the Valentine’s Effect — shows a reported increase in divorce filings, estimated at around 40% during this month, as couples confront deeper issues instead of seeking reconciliation.

To further complicate matters, the recent remarks of media personality Nandi Madida have ignited discussions around the financial strain on relationships and its ties to the rise of the "sugar daddy" culture. Madida pointed out how, amidst economic struggles, romance often succumbs to transactional dynamics, representing the stark contrast between those who can afford lavish celebrations and those who struggle with everyday survival.

“We need to recognise that when economic survival becomes paramount, intimacy can shift from being about emotional connection to power dynamics rooted in financial capability,” Alexanderson observes. This tension is particularly pronounced in a country still reeling from a recent Constitutional Court ruling that stipulates that customary marriages are automatically in community of property, meaning that any debt taken on by one partner can implicate both parties upon the payment of lobola.

In the past, lobola was often viewed as a preliminary step in the marital journey, allowing couples a period to prepare for their union. Now, with the court ruling, the implications are profound. “Once lobola is concluded, a customary marriage takes effect immediately and is automatically in community of property,” Alexanderson warns. “This means that debt incurred via credit cards, personal loans, or store accounts can be considered joint liability from that moment.”

So, how can couples navigate these financial pressures without sacrificing their love lives amidst the backdrop of Valentine's Day this year? Alexanderson identifies several key elements of a healthy financial relationship:

• Openness about money: Encourage transparent discussions surrounding finances.
• Respecting boundaries: Adhere to financial limits and avoid pressuring partners to overspend.
• Honesty about debt: Maintain transparency regarding loans and financial obligations.
• Willingness to plan together: Approach budgeting and financial goals as a team.
• Shared decision-making: Grant equal say in financial matters, regardless of income disparity.

“These are the couples better equipped to weather financial storms,” Alexanderson concludes, emphasising that in a climate where every rand counts, genuine commitment is demonstrated when finances are seen not as hidden secrets or sources of conflict, but as shared responsibilities.

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