How to ease Januworry financial stress

If January was a hangover, it could spell a three month bab-elaas after festive season financial excesses.

- Hein Kaiser

But is it the time of the year, or the way that we navigate it? Financial planner Jacques Momberg from Momberg Consulting said the problem is how households step into the new year.

“The biggest January mistake South Africans make is chasing a fresh start with old habits. Emotional spending disguised as progress such as a new car, without a plan. By March, the stress is baked in,” he said.

So how do we change old habits?

Money with purpose

RossCoet Financial Services wrote in a blog that one of the biggest drivers of financial stress is vague planning. Clear, measurable goals give direction to spending and saving and make progress visible.