Different factors are considered when trying to understand the credit behavior of consumers in South Africa. Social needs, traditions, lifestyle and age can factor into the behavior of consumers. Social needs include the need to belong and fit in. some South Africans buy on credit to fulfill this particular need.
Age is also a determinant on credit behavior of consumers. Younger consumers are more inclined to spend and be flashy that the older ones. The lifestyle of consumers contributes to their behavior. Consumers who are earning less will consider fulfilling the basic need and buying the basic commodities before getting into debt. Consumers who earn more and live flashy lifestyles are most likely to get into more debt.