This article highlights the importance of building healthy financial and physical habits during the holiday season. It encourages readers to review their life insurance, investments, and health screenings, emphasizing the need for a robust financial safety net and consistent self-care.
As the holiday season approaches, many focus on spending quality time with loved ones. However, this festive period also offers a unique opportunity to reflect on and strengthen the habits that safeguard our future, both financially and physically.
Do you have money dysmorphia? Will you ever feel you have enough? According to the Road Traffic Management Corporation’s (RTMC) 2023-2024 Festive Season State of Road Safety Report, 1 280 road fatalities were recorded last year during the holiday period. Motor vehicle accidents were the leading cause of unnatural deaths, as highlighted in Momentum Life Insurance’s claims data for 2023. “These alarming statistics underscore the importance of having a robust financial safety net, especially life insurance, to protect against life’s uncertainties.” She says adopting good habits is often the foundation of lasting financial and physical resilience. One effective method to incorporate these habits is habit stacking. This is the process of building new behaviours onto existing routines. By stacking essential habits, individuals can make it easier to stay consistent in managing both their financial and physical health. Combine financial and health checks annually Bothma says reviewing your financial health is important. Meet with your financial adviser to assess your life insurance, investments, and retirement plans, and update your beneficiary details. “Assess your physical health: Schedule health screenings, such as mammograms or prostate exams, alongside a general health assessment to monitor critical indicators like cholesterol and blood pressure.” She says life’s circumstances are ever-changing, and key events such as marriage, the birth of a child, or career shifts can significantly impact your financial needs. “Use these life events as triggers to review your financial portfolio and ensure your financial plan aligns with your evolving needs.” Consistency is essential for success
Financial Habits Health Habits Holiday Season Life Insurance Financial Planning
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Start the New Year with Strong Financial HabitsAs the end of the year approaches, Momentum advises adopting new financial habits to ensure financial success in 2025. Their research found that financially secure individuals feel more in control and have a better mindset towards improving their situation. JJ van Wyk, a financial adviser at Momentum, emphasizes the importance of building financial habits for long-term security.
Read more »
Sarb: financial stability but financial distress in households and SMEsThis is the first time that the Reserve Bank included the financial distress of households and SMEs in its financial stability review.
Read more »
Strengthening Bonds Through Basketball: How Temu Helped a Father Find the Perfect Gift for His SonA single father of two boys moved South Africa when he gifted his son a precious basketball from Temu with a special message that reflected his heart.
Read more »
Strengthening diplomatic ties a key objective when Ramaphosa hosts Nigeria's TinubuStrengthening diplomatic ties will be a key objective when President Cyril Ramaphosa hosts his Nigerian counterpart, President Bola Tinubu, in Cape Town on Tuesday.
Read more »
Ramaphosa urges South Africans to work with authorities to end crime - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The President says government is strengthening the institutions that must fight corruption and crime
Read more »
Lions eager for big performance against physical PauThe Lions are aiming to put in a statement performance against a physical Pau in their Challenge Cup match-up at Ellis Park on Saturday.
Read more »