Your financial future will not change unless you do

The start of a new year often brings with it a renewed sense of possibility. Many South Africans start the year hopeful and determined that the new year will finally bring about change. We promise ourselves many things, among others, such as we will manage our money better, save more, spend less, and ultimately take greater control of our financial lives.

However, while a new year can inspire optimism and hope, it does not automatically bring about change. Financial freedom is not triggered by the turning of a calendar page. It is built through conscious decisions and consistent, disciplined action. Without that, even the strongest intentions fade quickly.

Every January, a familiar pattern emerges. Motivation is high, plans feel achievable, and goals seem clear. Yet globally, studies show that between 90 and 92 percent of people fail to keep their New Year’s resolutions, with only 8 to 10% sustaining them long term. As time passes, old habits begin to gradually resurface as priorities begin to compete, and progress starts to slow down. This is not a failure of willpower, but rather what happens when intention is not quickly translated into consistent action.

Therefore, the beginning of the year should not be viewed as a reset button, but rather as a checkpoint. It is a moment to draw an honest picture of where you are financially and a powerful opportunity to decide where you want to go. What you choose to do now will shape not only the next few months, but the entire year ahead.

One of the biggest misconceptions about financial change is that it requires dramatic moves or perfect conditions. In reality, lasting progress is built through small, deliberate choices made consistently. The earlier those choices are made in the year, the greater their impact over time. Waiting for things to settle down often means postponing progress altogether.

This is where momentum becomes critical, as consistent behaviour is what creates lasting change. When sound financial practices are put in place early in the year, they become part of everyday life rather than goals that need to be repeatedly restarted.

Simple actions taken now can have a powerful effect. Here are a few examples:

• Deciding how much you can realistically save each month,
• Creating a budget that reflects your real circumstances,
• Reviewing your debt and committing to reducing it steadily can all help build financial confidence.
• Furthermore, treating saving as a non-negotiable expense, rather than an afterthought nice-to-have, shifts it from intention to action.

Savings and investments remain one of the most important building blocks of financial freedom. Saving is not about restricting your lifestyle or denying yourself enjoyment. It is about creating security and choice. It allows you to respond to life’s inevitable challenges with confidence rather than anxiety. Whether it is an unexpected expense, a medical emergency, or a change in income, savings provide a buffer that protects both your finances and your peace of mind.

Too often, people wait for the right time to start saving or improving their financial habits. They tell themselves they will begin after the next salary increase, once debt is reduced or when expenses stabilise. The reality is that the perfect time rarely arrives. If you keep waiting for ideal conditions, progress really remains out of reach.

Financial freedom is not built through perfection. It is built through progress. It grows when saving becomes automatic, spending becomes intentional, and budgeting and financial planning become a tool for personal empowerment rather than restriction. These behaviours, repeated consistently, are what create lasting change.

So, take the start of the year as an opportunity for honest reflection and a chance to truly do things differently. It is a moment to take ownership of your financial journey and commit to change. You do not need to have everything figured out. You simply need to start and not stop.

The most powerful financial change you can make this year is not a resolution written for later, but a habit you start now and commit to every day. Because your financial future will not change unless you do. So, speak to your financial advisor to kick-start your journey to financial freedom.

* Manyike is the head of financial education at Old Mutual.

PERSONAL FINANCE