A Realistic Savings Plan

Tips to help you make wiser financial decisions in the new year

- Bonolo Sekudu

THE start of the new year comes with a lot of introspection about your life, decisions you might have made and plans for your financial situation. Instead of worrying about how you over spentmoney during the holiday season, you can use this opportunity to start over by making long-term financial decisions that will be rewarding to you and your family.

COMMIT TO GETTING BACK ON TRACK

Momentum Consult Practice Development Manager, Kalay Pillay, says it is not too late to get back on track. However, this is a process that will require commitment. The reality is that some people are in somuch debt that they have given up on ever getting back on track. But financial experts say ignoring your financial problems doesn’t make them go away.

“People should want to be debt-free and changing your mindset is a good place to begin. We often self sabotage by ignoring debt. This only escalates the problem and only makes it harder to overcome,” says Kalay.