Influencing, side hustles and entrepreneurship: How the middle class makes a living
· Citizen
The traditional eight-hour job in the office is slowly losing its standing as South Africa’s primary route to financial security. An increasing number of the middle class are building their wealth through multiple income streams, entrepreneurship and digital platforms.
This could be due to various reasons, including salary increases not keeping pace with rising inflation, and education no longer being seen as the key to success, as many graduates are still unemployed or working in jobs they did not study for.
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Findings from the 2026 Old Mutual Savings & Investment Monitor (OMSIM) revealed a shift in how financially active South Africans earn, manage and grow their money.
Side hustles to build financial resilience
The report suggests that people earning an income of R30 000 or more are increasingly taking up side hustles, not in response to economic pressure but as a strategy to build long-term financial resilience.
Keith Peter, advice manager at Old Mutual, said the findings point to a fundamental shift in the country’s financial landscape.
63% of respondents are earning an income from more than one source, an increase from 57%. Almost two-thirds of these “poly-jobbers” say their additional income has increased over the past 12 months; however, income from these jobs is still not a major part of their total income.
“Rather than relying solely on salaries, more consumers are building diversified income portfolios that combine employment, entrepreneurship and digital opportunities,” said Peter.
Middle-class influencers enter the chat
The report showed that business ownership continues to expand, with 51% of respondents now owning or co-owning a business, while four out of five report improved business performance over the past year.
Influencers have also entered the conversation, with 49% of the middle class now monetising social media platforms, up from 38% in 2025. The proportion earning meaningful income through digital channels has increased from 17% to 27% in just one year.
Old Mutual’s report suggests that this growing financial resilience is also beginning to influence broader financial behaviour. As people generate income from multiple sources, many appear to have greater confidence to save, invest and, where appropriate, make use of credit to support their financial goals.
Credit usage increases
As a result of growing income streams, credit usage has also increased across the middle-class, particularly for personal loans, store cards and vehicle finance.
Despite the difficult economic environment, overall repayment behaviour has remained broadly stable, suggesting that many people are managing higher levels of credit responsibly. However, the findings show that some people continue to experience debt-servicing challenges, highlighting the importance of responsible borrowing.
“Increased access to credit is not necessarily a concern when it is supported by sustainable income and disciplined repayment behaviour,” said Peter.
“Whilst repayment patterns have not shifted, it is important to point out that 17% of middle-market consumers have fallen behind on personal loan repayments during the past year. The findings reinforce that while many consumers are becoming more financially resilient, responsible debt management remains essential.”