It’s that time of the year where we go all out and make resolutions of what we hope to achieve in the coming year — be it losing a few kilos, eating healthier, or letting go of a bad habit in pursuit of better versions of ourselves. Our finances are part of this common practice. New Year’s resolutions are no child’s play. According to entrepreneur.com, only 9.2% of people achieve their yearly resolutions and rid themselves of their bad habits — an alarming statistic that we are all victims of at some point in our lives. Finances are also a different ball game. Admit it, we have all tried saving up for something but ended up spending the money on an impromptu shopping trip.
WHY ARE FINANCIAL RESOLUTIONS A PAIN?
The cost of living and high inflation also play a part in us going back to our old ways and neglecting our financial goals. Financial advisor and executive director at Matseke Business Investment, Mashilo Matseke, explains that the ever-rising cost of living makes basic needs unaffordable. “Many households are left with nothing to spend after paying the creditors,” he explains.
This story is from the January 2020 edition of True Love.
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This story is from the January 2020 edition of True Love.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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