The December holidays are fast approaching – and that all-too-familiar “Janu-worry” isn’t far behind. So there’s no better time to check in and take a closer look at how you spend, save and think about money.
Could some outdated habits, emotional baggage or unconscious beliefs be sabotaging your money-making efforts? And which money habits deserve to stay, go or get a full overhaul?
To help you find the answers, we turned to Kim Potgieter – a Certified Financial Planner, author and coach – for her expert advice on the best money habits to build wealth and creating financial freedom.
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Meet the expert: Kim Potgieter is a Certified Financial Planner, coach and the Managing Director and Head of Life Planning at Chartered Wealth Solutions. She has also authored five eBooks and two books, Retiremeant: Get More Meaning for Your Money and Midlife Money Makeover.
“Good habits cost us in the present, while bad habits cost us in the future.”
6 Simple Steps To Build Long-Term Wealth
1. Explore The Money Beliefs You Inherited – And How They Shape Your Spending
Most people don’t realise how deeply their money habits influence daily decisions and long-term outcomes. Behind every financial behaviour lies a belief, emotion or story – often formed in their early years without conscious awareness.
Uncover The Stories Behind Your Spending
“As a financial planner, I’ve watched clients mistakenly sabotage even the best financial strategies without knowing, through unconscious behaviours and inherited money beliefs,” says Potgieter. The solution isn’t just going to take improving your budgeting but rather understanding the deeper patterns motivating your choices.
2. Stop Waiting To Save – Starting Small Is Better Than Starting Later
When you save consistently, live below your means and persevere, you develop wealth-building habits that compound over time.
The Power Of Compound Growth
“I recently asked retired clients what they wished they’d known earlier. Their accordant answer: ‘I wish I had started saving sooner and understood compound interest.'”
Think of a snowball rolling downhill, it gathers momentum and mass. Investments work similarly – growing through interest, dividends and capital appreciation. That growth gets reinvested, building interest on your interest. The earlier you start, the more powerful this effect becomes.
It’s tempting to wait for better market conditions, fewer expenses or higher income. But there’s always something to fix, fund or pay for. The cost of delaying savings and investment is simply too high.
The Habit That Builds Wealth
If you start just one habit this year, it needs to be this: setting aside a portion of your income for savings, no matter how small.
Accumulating wealth isn’t a skill; it’s a habit
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3. Identify Which Money Habits Are Hurting (And Helping) You
You don’t need to revamp everything. Choose one habit to abandon or one new habit to cultivate.
Spot The Bad Money Habits Holding You Back
We’re often unaware of the financial habits operating quietly in our lives. You might catch yourself:
- Avoiding your bank balances because they feel overwhelming
- Always prioritising others’ needs over your financial goals
- Impulse buying for a temporary emotional “high”
- Operating without a budget and hoping for the best
Adopt Better Financial Habits Instead
- Saving consistently before spending
- Having frequent money conversations
- Setting boundaries around financial requests
- Regular budget evaluations with yourself or a financial planner
Quick Money Reflection Questions To Ask Yourself
- What money habits do I repeat most often?
- Do these habits align with my values and goals?
- Are they building the life I want?
4. Recognise Your Emotional Money Triggers
Sometimes the emotion driving a habit needs more attention than the habit itself.
We all have financial triggers. Some fear scarcity. Others carry guilt, shame or beliefs about being ‘bad with money’. “My trigger? When someone tries to control or manipulate me financially, it awakens my inner two-year-old and I react emotionally instead of mindfully,” says Kim.
Questions To Help You Manage Emotional Spending Or Money Triggers
When triggered, pause and ask:
- What situations cause me to overspend or shut down?
- When do I feel panic, shame or defensiveness about money?
- What emotion is driving this decision?
Simply naming the emotion helps you respond more thoughtfully.
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5. Start Small. Build Better Money Habits One Step At A Time
“Inspired by James Clear’s Atomic Habits, I’ve learned that success comes from small, consistent actions that become part of your identity, not massive transformations.”
Small Money Habits That Build Momentum
- Replace one spending habit (like daily coffee purchases) with automatic savings
- Set up automatic savings transfers
- Monthly bank statement reviews to identify:
- Unused subscriptions to cancel
- Memberships you no longer use
- Surprising spending patterns on delivery services or online shopping
These small steps create awareness and awareness creates change.
6. Align Your Financial Habits With Your Future Self
James Clear reminds us that good habits cost us in the present, while bad habits cost us in the future. Bad habits typically feel good immediately – that chocolate brownie tastes great now, but what about your health goals? The shiny new car provides instant gratification, but how does it impact long-term savings?
Think Beyond Instant Gratification
Good habits may not bring instant joy, but their long-term rewards far exceed momentary pleasures. When considering your future self and the life you’re building, ask: What habits will help me get there? Making good choices becomes easier when your habits align with your values and you can see the bigger picture.
Let your financial habits reflect the purposeful life you’re creating – one guided by the future you want to live.
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Meet The Expert: Kim Potgieter
Kim Potgieter is a Certified Financial Planner, author, coach and Managing Director and Head of Life Planning at Chartered Wealth Solutions. She is passionate about financial independence and her goal is to teach and share her insights on money and life planning. Incorporating her two passions – helping people with their relationship with money and guiding clients to get the most life from their money in their second chapter – she has written five eBooks and two books; Retiremeant: Get More Meaning for Your Money and Midlife Money Makeover.
