“As the calendar flips to 2025, it’s time to rethink how you handle your money. Let’s focus on simplicity, clarity, and some go-to steps to achieve financial health and peace of mind this year. Small, consistent actions can help build a strong foundation for long-term financial success,”
says Wikus Olivier, Managing Director here at CreditSmart Financial Services.
With the following three helpful tips and steps, you can kick off the year feeling confident and financially empowered:
1. Start Small, Save Big
Building savings doesn’t have to be overwhelming. Commit to saving just a little every week or month. Whether it’s R50 or R500, consistency is key. Use tools like automatic transfers to a dedicated savings account to make it effortless. By the end of the year, these small contributions will grow into a tidy sum that can cover unexpected expenses or fund a future goal.
2. Declutter Your Spending
Take a closer look at your expenses and identify what you truly value. Are there subscriptions or habits draining your wallet without adding real joy? Cancel unnecessary services, skip a few takeout meals, and redirect those luxury funds toward your emergency fund or that much-needed year-end holiday. Think of it as financial summer (spring 😉) cleaning!
3. Keep Tabs on Your Credit
Your credit health plays a big role in your financial well-being. Make it a habit to check your credit report at least once a year to spot any errors or suspicious activity. Paying your accounts on time and keeping your credit utilisation (debt-to-income ratio) low (less than 30%) are easy ways to boost your score and open doors to better financial opportunities.
**Bonus Tip: Celebrate Progress
Set small milestones throughout the year and reward yourself when you reach them. Whether saving up for your first R1 000 or paying off a credit card, celebrating each win can keep you motivated and on track with your financials.
2025 is your year to simplify, streamline, and succeed. With these bite-sized tips, financial health can be more than just a resolution, it can be your stress-free reality.
Helpful Resources
- Budgeting and Saving Tool: Vault22 (a free budgeting and financial management app, formerly known as 22Seven).
- Emergency Fund Account Options: TymeBank GoalSave (high-interest savings options from one of South Africa’s top online banks).
- Credit Reports: ThreeSixty.me (free credit report, score, educational tips, and more to help you effectively manage your credit).
- Debt Management/Advice: CreditSmart Financial Services (is your registered, legal support option to help you manage your debt sustainably during a ‘more month than money’ situation)