Even though Google Search Trends data reports a significant spike in South African netizens searching for New Year’s resolution ideas on 01 January 2025, the topic of New Year’s resolutions is often polarising. After all, it’s not uncommon to hear about the high failure rate in achieving those resolutions among those who set them at the beginning of each year. Yet, the practice of making these bold annual goals endures as a global tradition with the desire for self-improvement reigniting annually at the stroke of midnight on the first day of January.
“Making the resolution is the easy part,” says FNB’s Integrated Advice Product Specialist Lethukuthula Ngcobo. “The real work is in sticking to one’s resolutions and seeing them through until the end of the year. That’s where we come in, by helping customers and giving them the tools they need not only to start the year right but achieve all the financial goals they set for themselves.” Below is a reliable list of tools, put together by FNB experts, that consumers can use to achieve their goals for the year, all in the palm of their hands.
- Saving money and reducing debt: South Africans are unfortunately notorious for not having a healthy savings culture. According to the South African government, the country has one of the lowest savings rates in the world with, FNB’s research showing that less than 23% of South Africans have 1 weeks’ worth of emergency savings. Since the launch of FNB’s nav» Money Savings Goal feature in May 2019, more than hundreds of thousands of customers have clicked-in to it with roughly a third of customers initiating goals, tracking their progress and staying motivated. The feature facilitates savings goals based on current needs, with an array of savings categories and a monthly scheduled transfer which they can pause at any time.
“Further to savings goals, nav» Money allows users to easily track their auto-categorised spend, set smart budget alerts, view their credit status, and get a view of their net worth while also learning how to tweak their habits with a free money coach on app,” explains Jolandé Duvenage, nav» Chief Imagineer at FNB, adding that its usage stats are encouraging as they show a real desire among users to set money aside for various requirements in their lives. “We also see that these savings goals cut across a range of short- and long-term personal targets. Ultimately, we want to be the conduit that helps our customers feel empowered, not only to set but also achieve their goals and attain their individual versions of financial success,” she adds.
Linked to setting savings goals and reducing debt is budgeting. That’s why intuitive tools like Track My Spend and Smart budget on nav» Money are indispensable. Ngcobo underscores the bank’s desire to help ordinary South Africans manage their money better by making things like budgeting easily accessible. “Setting up automated transfers from a main account to a savings account takes away the fuss of needing to remember to do it, and eliminates the actual admin, making consumers habitual savers with very little effort. It also goes back to the adage of ‘save and then spend’. You can also set up Scheduled Payments on the FNB app, to ensure that as soon as your salary comes in, you quickly clear all your financial obligations before splurging on yourself and others,” she says.
- Personal & Professional Development: With the desire to learn new skills and hobbies often featuring high on the lists of individuals each year, FNB eBucks Rewards programme has connected with the right partners to offer courses for both adults and children right on the FNB app, to help them achieve their personal, professional and educational goals. “We partner with a range of interesting stores and organisations, both brick-and-mortar and online, who are keen to add significant value to the lives of South Africans in addition to offering them commercial products. Not least among these partners are Udemy and Extra Marks, for example, who work hand-in-hand with us as part of our long-term strategy to educate the nation,” says eBucks Rewards Head, Zamabomvu Ngubane. Thanks to these partnerships, South Africans who sign up through eBucks can get six free Udemy courses of their choice per year and complimentary access to Grade R to 12 CAPS e-learning support through Extra Marks.
- Growing your wealth and investments
Among the many lessons that recent economic strain has taught us, the importance of growing our wealth is even more apparent than ever. Proper investment goals create strong foundations that contribute to protecting life, health, and wellbeing in individuals in the short and long-term. “As part of your resolutions, diversify your investments and build passive income streams to ensure financial stability and resilience,” says Samukelo Zwane, Head of Product, FNB Wealth and Investments. “Additionally, strengthen your financial security by contributing to your emergency fund regularly, reviewing your insurance policies and planning adequately for your retirement, will not only safeguard you and your family against unexpected health or life emergencies, but ensure that you are protected in the future”.
- Travel within South Africa and abroad
Both local and international travel are probably sitting pretty high on your list of resolutions, as they do for many around the world at this time of the year. And here again, loyalty and rewards programmes may just be the magic weapon and saving grace as you plan or even embark on your local or international adventure.
“By earning eBucks, you can potentially save hundreds or even thousands of much needed rands for your travel plans,” says Ngubane, adding that among the programme’s partners are a range of retailers and lifestyle brands like MTBeds, SLOW Lounge, LIFT, Engen, AVIS and many more who make travel essentials (from flights to holiday accommodation, refilling fuel, and car hire) more affordable and hassle-free, while also enabling qualifying customers to earn even more back in eBucks for their spend.
Hate them or love them, New Years Resolutions are likely to be around for at least another four millennia, enduring along with the old saying ‘Where there’s a will there’s a way.’ However, the will is only the starting block for these audacious annual goals – it’s essential to have the tools to help you along as you’re trying to achieve them. And, if you look closely enough, these tools just might be at your fingertips, in the form of your banking app.
Apiwe Mjambane
Soweto Sunrise News
