As South Africans look ahead to 2026, New Year’s resolutions continue to focus on health and wellness, but financial wellbeing is quickly catching up.
Recent studies reveal that while most people still pledge to take better care of their health, an increasing number are also committing to saving more and managing their money wisely.
This shift reflects a growing awareness that financial fitness is just as important as physical health when navigating today’s economic pressures. A 2025 IPSOS study shows that 92% of South Africans pledged to take better care of their health, while research from the consumer insights agency KLA indicated that 82% planned to save more money.
Gavyn Letley, Product Head at specialist loans provider DirectAxis, says that while successive interest rate reductions have provided consumers with some relief, food price inflation, despite moderating, remains high, and fuel prices have increased again. The costs of electricity, housing, services and rates have contributed to an inflation rate that remains above the Reserve Bank’s 3% target and economic growth remains constrained.
“Even if you aren’t one of the growing numbers of people resolving to take better care of their finances in the coming year, it’s not too late to start doing so now and improve your financial health for 2026.”
But first, he emphasises, it’s important to stay realistic.
“One of the main reasons people abandon their resolutions is that they set unachievable goals. When it becomes clear that they can’t achieve these, they lose motivation. It’s far more effective to set feasible targets because the satisfaction of reaching them encourages you to continue.”
He suggests a few practical steps to get started.
1. Draw up a budget
Although budgeting may seem daunting, it’s one of the most important steps in taking control of your finances – and it’s simpler than you think. A budget shows where your income goes each month. In breaking down your earnings and expenses, it also helps you identify unnecessary costs and create room for savings.
It can be as easy as drawing a line down the centre of a page. List your income on the left and all your expenses on the right, using your bank statements as a guide. Alternatively, there is a range of online budgeting tools, such as here, that provide a step-by-step guide.
2. Improve your credit score
Your credit score helps banks, retailers, landlords, and others assess your financial reliability. A poor score can limit your access to credit and other financial products and services or result in you receiving higher interest rates on loans.
While South Africans are entitled to one free credit report a year from each credit bureau, online tools like DirectAxis’ Pulse allow users to check their credit score as often as they like at no cost.
Pulse also provides a breakdown of how your score is determined and advice on how to improve it. Most people can improve their credit score by at least 20 points by simply reducing the number of credit facilities they hold and paying accounts on time. A stronger score may unlock more financial products and can help you save on interest.
3. Increase your financial knowledge
Taking control of your financial future starts with informed decision-making. Fortunately, there is an abundance of credible online content produced by authorised financial institutions, and advisors.
Given the volume of information available, start by identifying topics you want to understand better and explore content from a few reputable sources. Compare perspectives to ensure the information is accurate, practical and relevant to your needs.
“These are three simple steps that will give you a solid foundation to start building a healthier financial future,” says Letley.
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