Sustainable financial habits to help you achieve your goals in 2025
As we step into the new year, many South Africans are reflecting on their financial resolutions and setting new goals for 2025.
Whether it’s growing your savings and investments, settling your debt, or securing your long-term financial stability, a big part of the wealth creation journey for achieving your goals will require more than just good intentions.
It will take discipline, consistency, and commitment to building strong and sustainable financial habits.
Ester Ochse, Product Head at FNB Integrated Advice, emphasises that sustainable financial habits are the bedrock of successful financial planning.
“Much like nurturing a garden, good financial habits require regular care and attention to grow. Consistency, even with small actions, leads to significant progress over time. Therefore, it’s really important to have a focus period set aside in January or February to kick-start the year with a strong financial future in mind.”
Ochse shares some essential habits to help you stay on track with your financial goals this year:
Start with a clear financial plan
A successful financial year begins with a clear roadmap. Set specific, measurable goals and break them down into smaller actionable steps. For instance, if you aim to save for a home deposit, determine the exact amount needed and set a realistic monthly savings target for a certain period. With tools like nav>>Savings goals, you can track your progress, adjust your savings approach, and stay motivated as you work towards your home-buying milestone. Naming the goal, “home deposit” will assist with keeping you focused on the goal.
Review and adjust your budget regularly
Your financial situation is dynamic, so your budget should be as well. Unforeseen life events such as salary adjustments, ad-hoc expenses, or other lifestyle changes will affect your finances, forcing you to adapt. That’s why it’s important to review and adjust your budget regularly by periodically setting aside time (monthly or quarterly) to evaluate your income, expenses, and savings.
Are you still on track with your goals? If not, then you may need to re-adjust your budget according to your situation. Using the Smart Budget tool on the FNB App will help you keep track of your budget.
Be smart and intentional about managing your debt
People often overlook the impact of having an unhealthy credit record and how it reflects negatively in the debt management analyses made by financial providers. Using credit responsibly can help you buy things you need, build a good financial reputation, and ultimately help you towards your wealth creation goal. But it's important to be careful and only borrow what you can afford to pay back. If you don't pay back what you owe, as per the agreed payment structure, it can negatively influence your credit score and make it harder for you to borrow money when you seriously need it in the future.
Remember to automate your savings and investments
One of the most powerful ways to stay disciplined with your finances is to automate your savings and investments, whether for short or long-term goals. By setting up automatic transfers from your current account to a dedicated savings or investment account, you ensure that you consistently set money aside without the temptation to spend it. Also, it is a great habit to get into saving before one starts spending. Furthermore, automation turns your savings and investments into a non-negotiable habit, removing the need for constant reminders.
Overtime, these small and regular contributions will build up into a substantial sum. Digital banking features such as automatic transfers and savings or investment goals on the FNB App, make it more convenient than ever to stay on track with your financial objectives for the new year.
Prioritise longer-term goals such as retirement plans
This is a financial strategy that prioritises saving before spending. Before making discretionary purchases, ensure that a portion of your income is directed toward your savings, investments, or retirement investments. This habit ensures that your long-term financial health remains a priority, even when other expenses arise. By establishing this as a routine, you reinforce the idea that building wealth and securing your future are more important than instant gratification.
Leverage rewards programmes to boost your financial goals
Some people often underestimate the potential to accelerate their financial goals by taking full advantage of their rewards programmes. Using rewards earned through everyday spending can help substitute paying for purchases with your hard cash. This smart cashflow and spend alternative can provide some relief to your budget and allow you to use the intended money to add to your savings, pay down debts or invest for the future without impacting your disposable income.
FNB’s eBucks rewards programme is a prime example of how rewards can complement your financial planning. Whether its earning eBucks for routine transactions, paying bills, or making use of partner offers, these rewards can help reduce everyday costs or contribute to your savings goals. Integrating rewards into your financial strategy can provide an extra layer of motivation and help you stay on track toward achieving your financial objectives more efficiently.
Adopting these simple, yet effective habits will go a long way in supporting you to build a solid financial foundation that will drive your long-term financial success. “The journey to financial security is one that requires patience, dedication and small consistent actions that add up over time. It’s important for you to stay focused in order to achieve your financial goals.” Ochse said.
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