As the new year begins, South Africans take stock of their aspirations – most of which all hinge on one thing – financial security. While fitness and career goals often lead the charge of resolutions, financial wellbeing should not be overlooked.

According to Jessica Pillay a Momentum Financial Adviser, starting the year with open and honest money conversations – both with yourself and your family – can set the tone for financial success. By adopting small, manageable habits, she/he believes just about anyone can make significant strides towards improving your financial health.

Facing your financial truth

Money conversations were never meant to be comfortable, but they cannot be left unspoken. Whether it’s tackling debt, creating a family budget, or acknowledging financial gaps, avoiding these discussions only delays progress. According to the Momentum/Unisa Household Financial Wellness Index, only 15% of South African households are genuinely financially literate, despite nearly half believing otherwise. Isn’t it time to subvert this narrative?

Pillay stresses the importance of starting the year with clarity. “You have to know where you stand. Understanding your strengths and areas for improvement allows you to create a plan that supports long-term stability and wealth creation. This is the first step toward financial resilience.”

Stacking habits for success

Pillay recommends leveraging the concept of habit stacking (pairing new financial behaviours with existing routines) to make progress more manageable.

• Daily tracking: Review your expenses while enjoying your morning coffee or commuting to work.
• Savings routines: Transfer a set amount to your savings account each time you pay a bill.
• Family discussions: Use weekly meals or family catch-ups to discuss budgeting goals or saving plans.

“Small, consistent actions can lead to significant changes over time,” says Pillay. “Habit stacking makes it easier to build these behaviours into your daily life, ensuring they become second nature.”

Building financial literacy in the household

In many South African households, money remains a taboo subject. However, Pillay believes that normalising these discussions can empower the entire household.