By Emily Setona
QWAQWA – As South Africans grapple with the annual financial strain known as “Januworry”, financial experts are calling on citizens to adopt disciplined saving habits and long-term investment strategies to build financial stability.
Financial adviser Qenehelo Phonyokoane says stokvels – informal community-based savings clubs – remain one of the most effective tools for promoting a culture of saving, particularly among working-class and young professionals.
“Stokvels encourage discipline, accountability and collective responsibility,” Phonyokoane told The Guard.
“When combined with structured savings and investment plans, they can play a significant role in securing long-term financial stability.”
The call for smarter money management is already resonating with young professionals navigating tough economic choices. Dineo Nkejane, a master’s student at the University of the Free State, recently faced a difficult career decision guided largely by financial considerations.
“I was offered a junior lecturing post in December, but I declined it after receiving another offer with better financial benefits,” Nkejane said.
While teaching remains her passion, she opted for a coordinator position at the Free State Indigenous Knowledge Systems Documentation Centre (IKSDC), citing greater financial security.
Nkejane is also a member of a stokvel, which she credits with helping her maintain financial discipline and plan ahead. “Being part of a stokvel keeps me accountable and forces me to think long-term about my finances,” she said.
Financial advisers emphasize that January is a critical period for setting realistic financial goals, reassessing spending habits, and committing to consistent saving and investment.
“We need to move towards becoming a financially educated generation,” Phonyokoane said. “Smart money choices made today determine financial freedom tomorrow.”
