Does Janu-worry fill you with dread? Don’t stress. With enough planning, 2022 can be the year that you turn your finances around.

Personal finance – it’s a minefield that causes many of us stress. Let this year be the one that you change up your money habits by making saving your number-one priority.

Draw up a budget – and stick to it!

‘A good budget will show you your expenses, highlighting areas where you can cut back on spending,’ says Kelsy Moodley, an actuarial analyst at Alexander Forbes. Be realistic when drawing up yours. Allow yourself some leeway for entertainment, gifts or beauty treatments, for example. You can go online to find budget templates or download an app such as Mint or 22Seven on your smartphone to help you track your spending.

Visualise your savings goals

Now that you know how much money you have and where it goes each month, you can get on to the fun stuff: saving! Okay, it may not sound like much fun, but have you tried to visualise what you’re going to do when you retire one day? Maybe you and your spouse are going to take a romantic trip to Venice or go hot-air ballooning over the Kruger. ‘Having a goal or dream when you’re investing makes it easier for you to stay motivated,’ says financial advisor Sigrid Madonko of Quintus Wealth.

Make saving automatic 

Whether it’s for your retirement or your kids’ education, if you’re serious about saving, it’s best to create a monthly debit order. Debit orders work because you’re ‘paying yourself first’, rather than waiting until the end of the month to see if there’s any money left over to save.‘Given that markets are so volatile, some people may feel a little less than positive about investing this year,’ says Tandisizwe Mahlutshana of PPS Investments. ‘But, by investing fixed amounts at regular intervals over a long period, you spread risk over time. ‘If you were to invest just R200 a month over a period of 10 years, you could see your investment grow 6% per year to more than R32 000,’ Tandisizwe says.

BE YOUR BEST SELF

This year could mark a new season for you – a new job or perhaps starting your own business. ‘If you haven’t done it yet, 2022 is definitely the year to start living in congruence with the person you want to be,’ says wealth coach Izak Strauss. ‘Start off by getting to  know yourself. Find your true “why”, and the “how” will fall into place.’ If you’re thinking of taking the leap into your own business venture, start by getting your finances in order first. ‘The likelihood is that you won’t sign that huge client on day one,’ says branding expert Emma Weise of FreshSage. ‘Your idea may be big, but there is nothing wrong with small beginnings. Even if you have to start doing what you love on the side, build up contacts and credibility while you still have a steady salary.’

Try our 12-month savings challenge

Want to save more than R8k this year? Start with modest amounts. You could cut down on takeaway lunches, sell your unwanted junk, or host your child’s party at home instead of at a fancy venue. Be creative and get saving! If you start saving just R2.50 a day in January, then slowly increase your daily savings every month over the course of the year, you’ll soon have more than R8 000, which you can put towards the things you really need. By the end of the year, you’ll be a saving pro, and can set your sights even higher in 2023!