From celebration to preparation
Starting 2025 with a solid financial plan
The festive season is a time for joy, reflection and creating memories with loved ones. As this year draws to an end, it is also an opportunity to look beyond celebrations and start building towards the coming year.A sound financial plan for 2025 does not have to mean sacrificing the festivities; it means laying a foundation for peace of mind and prosperity.
Take a moment to reflect on your financial journey over the past year. What went well? Were there some goals you had set that you accomplished? Perhaps you saved for something special, invested in something important, or kept better track of your money than in years past.
On the other hand, consider areas where you might improve. Were there any surprise expenses that you were not prepared for? Was there overspending on items that didn't add value to your life?
Knowing these wins and challenges will go a long way in helping you make informed financial decisions.
For many, December also means extra income in the form of year-end bonuses or holiday payouts. I know it can be very tempting to use this windfall to celebrate or splurge but consider how some of it could work for you in the future. Build or top up an emergency fund to prepare for unforeseen expenses.
What to do
Open a new savings or investment that works for you in reaching your long-term goals, whether it be a house, education or wealth building. You could even make an extra contribution to your retirement fund – your future you will appreciate it.
Setting goals for 2025 might seem overwhelming, but it really need not be. Begin with small, realistic steps to which you can easily adhere: commit to saving a specific percentage of your monthly income, try to reduce unnecessary expenses, or study financial products that match your needs. It might be from insurance over the loved ones to an investment plan for growing the wealth in a timeframe.
Financial planning is not just about numbers on a spreadsheet; it’s about giving yourself and your family the stability and freedom to enjoy life’s milestones without unnecessary stress. By taking control of your finances, you’re not just preparing for the unexpected—you’re actively building a future filled with possibilities.
If you don't know where to begin, team up with a financial adviser today. They can help assess your current situation, point out growth opportunities, and design a personalised plan that matches up with your dreams.
And sometimes, having a roadmap and someone to guide you is what makes all the difference.
This holiday season, savour each moment of delight, knowing that you are taking conscious steps towards a brighter tomorrow. A solid financial plan can stand out among the greatest gifts you could give yourself and your loved ones, as the best possible way to honour the present is to prepare for the future.
* Ashante Manetti is the Foundation and Retail Business Marketing Manager at Old Mutual Namibia.
** Opinion pieces and letters by the public do not necessarily reflect the opinion of the editorial team. The editors reserve the right to abridge original texts. All newspapers of Namibia Media Holdings adhere to the Code of Ethics for Namibian Media, a code established jointly with the Media Ombudsman.