Why New Year's financial resolutions fail and how to make them stick

As South Africans ring in the New Year, many take a moment to reflect on their financial intentions. Whether it’s aiming to earn more, budget better, pay off lingering debts, build savings, or simply “get organised,” the enthusiasm is palpable.

However, research indicates that these aspirations often dwindle within weeks, leaving many feeling frustrated and overwhelmed.

Rory Brachner, founder of Doshguide, a subscription-based platform that connects clients with flat-fee Certified Financial Planners™, emphasises that the crux of the problem is seldom a lack of willpower.

“Most South Africans live with significant financial stress, so it’s no surprise that financial freedom emerges as a perennial New Year's resolution.

Yet surprisingly few seek holistic financial planning to realise their money goals,” he explains.

A revealing study from DebtBusters, the 2025 Money-Stress Tracker, found that a staggering 70% of respondents reported experiencing money-related stress.

The impacts are far-reaching, with 91% admitting it affected their home life, while 73% noted the strain on both their work life and health.

Despite these alarming figures, Momentum’s 2025 Financial Advice Research Report highlights that only one in ten households engaged a professional adviser, even though those that do tend to enjoy enhanced wealth levels and overall financial wellbeing.

Brachner observes that financial goals often unravel during busy or stressful periods in life. “It’s the support in navigating significant decisions that helps keep these goals on track,” he asserts.

Jason Nicol, a financial planner within the Doshguide network, provides further insight into why individuals abandon their financial aspirations so quickly.

“Many find the process daunting or abstract, coupled with a fear of being judged for past missteps. Clients often worry about being criticised for overspending or gambling losses, and this societal pressure diminishes the willingness to be open about financial struggles,” he notes.

“However, avoiding these conversations only exacerbates the issues.”

Open dialogue regarding finances is paramount, according to Nicol.

“Much of the stress associated with money comes from the perception that it’s controlling your life. Having honest conversations, especially about aspects that may induce shame, is liberating. Understanding an individual’s life stage, concerns, and aspirations allows for the formulation of realistic guidance and a tailored plan,” he explains.

Yet, Brachner warns against conflating the act of acquiring financial products with genuine financial planning.

He likens it to signing up for a gym in January but failing to attend yet still expecting to improve one’s health.

“Simply buying a financial product won’t inform you whether you’re saving adequately or prioritising what truly matters,” he clarifies. “A flat-fee advisor structures support based on life goals rather than the sale of products.”

He further likens these advisors to personal trainers, emphasising that they assist clients in achieving goals more effectively than trying to navigate financial waters alone.

They provide accountability and adjust plans as circumstances shift, ensuring consistent improvement.

Nicol reinforces that successful resolutions revolve around outcomes rather than products.

“Imagine how you want 2026 to feel – hopeful, stable, less stressful. Recognising these feelings directs you to what truly matters: be it consolidating debt, planning for a family, transitioning in your career, or enhancing retirement readiness. Products should complement the plan, not define it,” he states.

He encourages consumers to embrace a lifestyle financial planning approach which harmoniously integrates three elements: life planning that reflects personal values and desired lifestyle, financial planning that determines the requirements to support that life, and product matching which pairs the right investments and insurance with the overall strategy.

Brachner emphasises that setting financial resolutions is not merely a January exercise.

“Taking control of your finances isn’t about flawless execution; it’s about making consistent, knowledgeable decisions. With appropriate guidance and frank conversations, 2026 can be the year where households rediscover financial confidence and make their money work for them.”

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