Wake up. Respond to emails. Chase invoices. Deliver a package. Squeeze in two hours of designing or writing. Handle admin. Repeat.
This is the daily rhythm of millions of South Africans earning a living without a payslip, workplace benefits, or the right to call in sick.
According to the World Economic Forum, the global gig economy is projected to reach $1.8-billion (about R34-billion) by 2032 . In South Africa, 3,9 million people were already working gig jobs by 2021.
The freedom to choose your hours often comes with the fragility of being one illness or accident away from zero income. You’re the worker, the boss, the admin clerk, the risk manager — and the only one footing the bill.
Freedom or fragility?
Gig work refers to short-term, freelance, or contract-based jobs, often facilitated through digital platforms, where workers are paid per task, trip, or project rather than earning a fixed salary.
It is accessible, immediate, and offers a vital income stream when formal work remains scarce, especially in urban centres with reliable connectivity.
For many, gig work is a lifestyle choice: flexible hours, independence, and the ability to juggle careers, passions, and parenting.
Read more: How to get your side hustle on
On paper, you’re not an employee
South African labour law draws a sharp line between employees and independent contractors. Most gig workers fall into the latter category, meaning no Basic Conditions of Employment Act benefits or Labour Relations Act protections.
“As a freelancer, it means you need to budget and plan more effectively than someone who is employed and gets benefits from work,” said Sean van Zyl, a certified financial planner at Old Mutual. “Self-employed individuals are at high risk of spending all their money without having a plan for the short and long term.”
The standard workplace perks like medical aid, pension, sick leave, injury cover, paid holidays, and UIF don’t automatically exist for gig workers. So what does financial self-defence look like when you’re gigging full time?
Build your own safety net:
Start with an emergency fund
“Emergency funds are essential,” Farzana Botha, senior marketing communications executive at Sanlam, said. “You should be considering short- to medium-term investments that give you steady growth over time to supplement your income if you’re without work.”
She recommended thinking beyond car repairs and broken appliances: your emergency fund should also cover time off, illness, or gaps between contracts.
Read more: Get your finances in order by sticking to the basics around budget, emergency fund, and short-term debt
Budget with a rolling average
Botha encourages gig workers to avoid budgeting based on a single good month.
“Work on a 12-month rolling average,” she said. “Don’t let a month where you made R300,000 trick you into thinking it’s your new norm. Look at your last 12 months of income, average it, and base your spending on that.”
Van Zyl added that budgeting weekly based on a three-month expense average, rather than monthly budgeting, could be more manageable.
Tools like Xero, QuickBooks, and Vault22 can help you manage your earnings, track your expenses, and prepare for the tax season. Van Zyl also recommends SMEgo for freelancers, a tool that handles quotes and invoicing.
Most banking apps also provide in-app budgeting dashboards, allowing you to categorise expenses and visualise spending patterns.
Don’t skip medical cover
“Even something as basic as a hospital plan, starting from about R400 to R500 a month, can make a huge difference in an emergency,” Botha said. “And you get a tax deduction.”
Medical insurance is another cost-effective solution.
“Alternatively, one could also look at illness or disability cover,” Van Zyl said. “Even though these aren’t ‘medical aid’ benefits, they will help us in the event of being ill, temporarily or permanently disabled.”
Read more: Ensuring income security amid health concerns
Think long-term
According to Botha, many gig workers don’t foresee themselves retiring due to the flexibility of their work. “At some point,” she said, “your energy, hours, or health will change. You need to prepare for that pivot.”
Retirement annuities can start from as little as R250 per month. They also offer tax benefits and long-term security.
“You can use anything as a vehicle when saving for retirement. This could include tax-free savings, savings accounts, or property,” Van Zyl said.
Read more: Irregular income earners can still own a home with some creative home financing
Use tools and ask for help
You don’t have to figure everything out on your own. Most banks regularly publish financial education articles on their websites and may offer free sessions with advisers once you’re a client.
Freelance platforms like the Southern African Freelancers’ Association (Safrea) also offer webinars, rate calculators, and advocacy tools for freelancers and independent workers. DM