How habits can help you achieve your 2025 financial goals

Many South Africans start the new year by reflecting on how their habits have landed them into the financial situations they find themselves in. They then set goals to try to improve their lives.

Some want to grow their savings and investments, some want to settle debt, while some want to secure long-term financial stability.

What is required to build habits?

Ester Ochse, Product Head at FNB Integrated Advice, says it takes more than just good intentions to create wealth. The journey requires discipline, consistency, and commitment to building strong and sustainable financial habits.

“Much like nurturing a garden, good financial habits require regular care and attention to grow. Consistency, even with small actions, leads to significant progress over time.

“Therefore, it’s really important to have a focus period set aside in January or February to kick-start the year with a strong financial future in mind.”

Essential habits

She shares essential habits to help individuals stay on track with their financial goals in 2025.

Start with a clear financial plan

Ochse says a successful financial year begins with a clear roadmap. It is important for one tp set specific, measurable goals and break them down into smaller actionable steps.

“For instance, if you aim to save for a home deposit, determine the exact amount needed and set a realistic monthly savings target for a certain period.”

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Review and adjust your budget regularly

Another habit that will help individuals reach their goals is reviewing and adjusting the budget regularly by periodically setting aside time (monthly or quarterly) to evaluate your income, expenses and savings.

“Your financial situation is dynamic, so your budget should be as well. Unforeseen life events such as salary adjustments, ad-hoc expenses, or other lifestyle changes will affect your finances, forcing you to adapt.”

Be smart and intentional about managing your debt

“People often overlook the impact of having an unhealthy credit record and how it reflects negatively in the debt management analyses made by financial providers,” she says.

Using credit responsibly can help you buy things you need, build a good financial reputation, and ultimately help you towards your wealth creation goal.

However, it is important to be careful and only borrow what you can afford to pay back.

“If you don’t pay back what you owe, as per the agreed payment structure, it can negatively influence your credit score and make it harder for you to borrow money when you seriously need it in the future.”

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Remember to automate your savings and investments

Ochse says that one of the most powerful ways to stay disciplined with finances is to automate your savings and investments, whether for short or long-term goals.

“By setting up automatic transfers from your current account to a dedicated savings or investment account, you ensure that you consistently set money aside without the temptation to spend it.”

She adds that another benefit of automation is it turns savings and investments into a non-negotiable habit, removing the need for constant reminders.

Prioritise longer-term goals such as retirement plans

She says before making discretionary purchases, ensure that a portion of your income is directed toward your savings, investments, or retirement investments.

“This habit ensures that your long-term financial health remains a priority, even when other expenses arise.

“By establishing this as a routine, you reinforce the idea that building wealth and securing your future are more important than instant gratification.”

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Habit stacking

Andiswa Mojapelo, Head of Client Success at Momentum Velocity Club, agrees with Ochse that one can reach their financial goals by adopting the right habits.

Mojapelo emphasises that when building financial habits for the new year, education, specification, and accountability are all important.  

Research by Momentum revealed that 76.5% of households cite their knowledge, skills, or experience as a source of financial advice, while only 9.2% consulted a certified financial planner. 

“It is challenging to set the right habits and goals when you are looking at it through the wrong lens or are not well-informed.

“Perhaps this is what has made New Year’s resolutions ineffective is that people trust themselves instead of getting expert advice on the right things to do, especially when it comes to money and finances.”

Don’t do it alone

She says it might come in handy to team up with a financial planner to create a personalised financial plan and combining it with habit stacking transforms your finances.

“For example, there are several formulas floated for savings and budgeting on social media and other platforms such as the universal 50:30:20 budgeting formula where the recommendation is to put 50% of your money toward needs, 30% toward wants, and 20% toward savings.

“This might not be the reality for many South Africans so basing resolutions on that might be a futile exercise,” said Mojapelo.

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Be specific

She adds that being specific with a new habit is necessary for its success. Sometimes, New Year’s resolutions can be a bit vague whereas kicking off the year with effective habits can ensure long-term commitment.

“Financial management is often about trade-offs because your money is a finite resource and sometimes you must sacrifice in the short term for long-term success. Being specific with the habits you are building helps you to understand the why.”  

Build accountability into your habit stacking

Mojapelo adds that having an accountability partner when starting new habits can be crucial to its success.

They can encourage you, keep you motivated and inspired and celebrate the small wins with you.

 “Joining a community of like-minded people can also be a great way to stay on track with new habits.

“This can be especially useful if you are entering the workplace for the first time or buying assets, you might not have those people in your immediate circle so having a community can certainly be impactful.”

Whether your goal is financial stability or personal growth, the key to success lies in small, deliberate actions that accumulate over time.

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