Why is it so easy to spend money but so difficult to make financial plans?
Other people are so organised and on top of things. But you know the feeling. You’d rather go to the dentist or neaten up your cupboard before you think about your bills or budget. Why? It could be that:
we don’t know enough about money and how things work;
we’re scared to make mistakes; and
we’re scared that we won’t know what to do when we find out what is going on.
Mindful Money Coach Marnita Oppermann explains, “Mostly it is our mindset about money that has a negative impact on thoughts, feelings and our money behaviours, and block us from managing our finances effectively. If we prefer to keep our head in the sand, it will sabotage the changes we need to make.”
It is tough. There are just so many things to pay to make ends meet. Covid-19 tired us out. We can feel the pressure to keep up with the neighbours too. According to TransUnion’s ,Q1 2020 South Africa Industry Insights Report, South Africans’ debt has increased sharply in the past 12 months.
Why will we spend money to see a doctor when we don’t feel well or follow a fitness programme with great effort to get into shape but shy away from getting help with money? It affects our everyday and future well-being.
If you google, you will see that time is a super powerful tool when it comes to money. The longer you wait to fix things, the more they can spiral out of control. On the positive side, the earlier you start saving, the earlier the growth on your money starts multiplying as by magic.
A little honesty will take us a long way.
Like with other challenges, we can spare ourselves much stress if we get help now. Yes, let’s be honest, it may take time and not be as easy as one-two-three. But it will make life easier if you just start.
Oppermann suggests that we should not be too harsh on ourselves when we fall back on old habits. It helps to break the changes up into smaller chunks, focusing on small but significant steps to improve our finances. It is important to clear our money past (reduce our debt), be careful in the present (curb our spending) and prepare for the future (start saving). “Celebrate the changes, even if they are small,” she says.
At Investo, we believe that you can empower the future you. You don’t have to do it on your own – there is help. On the Momentum website, you can find a financial adviser who can help you with what to do first. These people must pass exams. They are also a little removed from what seems so overwhelming to you. They can help you to tackle your money future step by step and make it less intimidating.
The nicest thing is that you can start beating to the rhythm of your own drum. You can plan for what you want in a way that works for you.
You have the potential. The proof is the wonderful things you have achieved before. You can be successful with money too. It’s time to start your journey to financial success.
ENDS
