Smart money moves: How to create financial habits that last longer than your New Years resolutions!
I recently signed up for one of my bucket list items, the demanding Comrades Marathon.
It’s something that I always had in the back of my mind, and I said to myself that if I ever where to take on the 87km beast, I am going to be prepared.
So, as I successfully entered and received my number, I immediately did 2 things:
1) I got a coach: Someone who is experience and can guide me week by week, month by month leading up to the Ultra Marathon
2) I got a training partner : After using all my persuasion skills, I convinced a friend to join me on this journey. Not only for the comradery, but more as an accountability partner, to make sure I show up for training even though I might not feel like it
For many of us, we want to make sure 2026 is our best year yet, not just physically, but financially as well. How can we be more productive and make more money or at least manage it better?
In his Book Atomic Habit, James clear writes about the ‘Commitment device’ in chapter 14. A Commitment device, also referred to as the ‘ Ulysses pact’ is a choice you make in the present, that controls your actions in the future. It is a way to lock in future behaviour, bind you to good habits and restrict you from the bad ones.
Some examples include:
- Eating out of smaller plates – to limit calorie intake.
- Unsubscribe to emails and apps – to waste less time
- Setting up an outlet timer, to cut off the Wi-Fi at 9pm per night - to limit social media or series binging.
- Keep your phone in another room when working – to avoid distractions
When it comes to your finances here are a couple of things you can try to make 2026 you most financially rewarding year yet.
- Automate your investments: Remove the temptation to spend your money by setting up debit order for the money to be invested as soon as it hits your bank account
- Appoint a financial partner – this can be an advisor, friend or spouse: his person must be strict and diligent and keep you to your goals. Schedule quarterly calls to go through your investment accounts to see how much it has grown
- Buy groceries only twice a week: We almost always buy things we don’t need – limit your number of visits to the store
- Let you partner hide your credit card during the week and have an x amount of cash available. This might sound harsh but can be extremely effective as we swipe or tab often without thinking.
There’s so many examples of how we can adjust our behaviour by setting up ‘ Commitment devices. I’d like to hear your favourites so please send them through to geo@bovest.co.za and let’s help each other to make 2026 memorable and profitable.
Geo Botha CFP®
Marketing Director
