How to avoid Januworry

FESTIVE SEASON: KEY IS TO PUT YOUR BEST FINANCIAL FOOT FORWARD, SAYS EXPERT

With Black Friday behind us and our empty wallets waiting to be filled by our bonuses this coming week and Christmas behind the corner, it is hard to think of what lies behind that and even harder to consider how it feels to have an empty wallet at the beginning of Januworry with its eight weeks.

However, Salem Nyati, consumer financial education specialist at Momentum Group, says the beginning of 2025 will not be defined by "worry" for your household if you put your best financial foot forward and prioritize what is important and avoid splurging this festive season.

The number of financially distressed households has more than doubled between 2021 and 2022, but financial literacy is a skill that can help to improve your financial outcomes and relieve your financial stress, she says.

"For many South Africans, this should be seen as an opportunity to get serious about building a foundation for your financial future and not waste money on unnecessary expenditure during the holidays," says Nyati.

"Financial discipline is important, especially during the last few weeks of the year as it is the basis for a healthy and stable financial life. Remember there are plenty of temptations and family pressures to deal with and you must focus to stick to the plan. Do not be swayed into a miserable January."

Nyati says managing personal finances can be a daunting experience and even more so when you are responsible for other people with individual needs and wants.

She believes a life without financial stress is possible and recommends these practical tips to cultivate financial discipline and pave your way to a flourishing and stress-free 2025: