The new year has come and gone, and many commitments were made with the best of intentions, especially regarding finances.

• To curb spending
• To budget better
• To finally start that savings plan
• To take out life cover
• To make an earnest effort to increase retirement savings

But as we head into the new year, we find ourselves falling back into bad spending habits.

Why do we battle to focus on our finances and make the necessary changes?

Bad habits are easier to develop then good habits. Good habits require effort and a mind set change. As we realise that changing habits require effort and determination, our minds default back to easy familiar ways.

It requires a concerted effort to change spending habits and commit to a better financial plan. Because most battle, it is best to seek the help of a financial adviser to get a financial plan in place. They will take a realistic look at your current budget, retirement, savings, and insurance needs and get a plan of action in place. You can also set up direct debits on your salary payday so you won’t be tempted with frivolous spending.

To make it easier for you as well, they monitor your progress and keep you on track. It is much easier sticking to a new habit if you have a partner watching you and motivating you. Soon the new habits will become familiar ones. [email protected]

 

Please note, the above is for education purposes only and does not constitute advice. You should always contact your deVere Acuma adviser for a personal consultation.

* No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.