The spending diet resolution: How to control your money habit

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What are your spending habits and resolutions for 2022? Photo: Gallo Images/Getty Images
What are your spending habits and resolutions for 2022? Photo: Gallo Images/Getty Images


A good financial habit puts you in control of your money, writes Maya Fisher-French.

For many of us, our financial resolutions are based on the fact that we may feel like we lack control over our money. One way to get a sense of power is to go on a “spending diet”. This is my New Year’s resolution, and the trick is to keep it simple and achievable. I am only setting myself the goal of not spending for two months. This means for the months of January and February, I will not be spending money on anything that is not essential. No clothes, gadgets, household items or impulsive purchases.

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Stats SA's recent consumer price index data this week indicated the rise in food prices was the largest in 14 years. Economists say continued load shedding also adds to the rise in the cost of food production. How are you feeding your family during this tough time?
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