Rapist sentenced to 25 Years
February 23, 2024Malema in hot water over ‘hate speech’
February 26, 2024Our relationship with money shapes who we become, yet few of us stop to think about how we can transform our financial situation by first changing how we think about money.
This is the key message from clinical psychologist Dr Khosi Jiyani. She says poor financial decisions often come down to our underlying attitudes and emotions about money, shaped by early childhood experiences.
“To transform our financial fortunes, we first have to transform our thinking about money,” Dr Jiyani explains. She notes that while New Year’s resolutions often focus on health and fitness, reviewing our financial mindset falls lower on the priority list. Yet overspending over December often continues unchecked into January and beyond.
Dr Jiyani says our tendency for instant gratification and pleasure-seeking means we avoid the financial pain of overspending until later. We need to find balance, living prudently today as well as enjoying the moment.
Building self-worth based on net worth is problematic. Comparing ourselves financially to friends can quickly lead to depletion. Dr Jiyani suggests finding small, inexpensive rewards that leave you feeling energized and solvent at month’s end.
If overspending has dug a hole, she advises seeking help to map a new financial plan. A financial advisor can provide psychological and practical support to get spending back on track.
With children, explain financial realities at an age-appropriate level without oversharing. Teach the difference between needs and wants early to encourage balanced spending habits later.
Dr Jiyani concludes: “See yourself not as a victim of circumstances, but as a creator of future opportunities. Start the year strong financially and you’ll end stronger emotionally and financially.”