This article emphasizes the importance of building healthy spending habits and incorporating smart saving strategies for financial well-being in 2025. It highlights the crucial role of behavior in financial planning, urging readers to create realistic budgets, track spending, and identify areas for reduction. The piece also stresses the importance of starting small with savings and making it a consistent habit.
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.The beginning of the year is a good time for consumers to take a look at their finances and set the tone for how toin 2025.
Consumers should conduct a spending audit at the start of the year by printing bank statements and sitting with a financial advisor to assess where their money is going and where they could realistically cut down on unnecessary spending, Robey said. “Financial planning and wealth creation is 80% behaviour and 20% knowledge. You don’t need to know anything, just do it, regardless of how small it is,” Robey said.
*Tumi Moloi, a mother of two teenage boys, told the M&G that she used to take out a loan to pay for January expenses after the December festive indulgence, which landed her in more financial trouble. Saving and budgeting doesn’t have to be a chore and can be an activity that the whole family can get involved in, said market commentator and investor Simon Brown.
“ makes it so much more tangible, because part of the problem with the budgeting process is that we don’t see money. We swap credit cards, we’ve got debit orders. It just sort of happens. Making the entertainment budget actual cash makes it so much more tangible,” said Brown.
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