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Financial planning tips to start the year off right

Thinking of planning your financial goals for the new year? The holiday season is great time to relax and recharge after a year of hard work. It’s also a perfect opportunity to reflect on your journey to financial success. You can use the holidays to set new goals or re-adjust existing ones. And when your holidays are over, you will have clear intentions on what you want to achieve for 2021.

Talk about financial planning with your family

Most people spend the holiday season with their families. Momentum Metropolitan deputy CEO, Jeanette Marais, says this is the right time to talk to your loved ones about your plans should one of you pass away. “Where else do you have the opportunity to sit your family around the table and talk about what will happen if one of you pass away. And not to be focusing on the negative, but far more to empower your family to know what to do and where to go. It's important that you have an open and honest conversation about your finances. Have an open and honest conversation about your Will,” says Jeanette.

Reviewing your financial plan and why it’s important

It’s a perfect time to review your financial goals and see if they still align with all your financial products like life cover, insurance, investments and savings and medical aid. Reflect on the past year and draw lessons from challenges like Covid-19 and lockdown then take a step towards mitigating them by saving for future rainy days. When the holidays are over, you can speak to your financial adviser about your new plans.


Need help putting your financial plan into action?

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