Financial Endurance: How to beat “Novemberitis”

Endurance gives us the ability to overcome those life situations that put us to the test and tempt us to quit. One such endurance test is ‘Novemberitis’. It may be common, but it’s not invincible. Here are steps you can take to overcome it.

Have you heard of “Novemberitis”? Commonly experienced in November, it is the exhaustion, stress and burnout many of us feel as the long year draws to a close. As we look back on the year, we could begin to feel disheartened if considerable time has passed and we have not yet reached some of our goals. If that feeling takes hold of you, that’s just Novemberitis messing with you. Thankfully, you can beat it by practicing endurance. Endurance is the ability to withstand an unpleasant or difficult situation without giving up. It may be one of the most challenging disciplines to master, but it is essential for your success.

How to build financial endurance

In financial terms, endurance means not giving up on achieving your financial goals for any reason. Just like physical endurance, your financial endurance can be improved with mental discipline and practice. Financial endurance could be setting aside money every month – no matter the amount – of diligently sticking to your monthly budget. The key is to look for a goal that you can realistically attain.

  • Set financial goals that inspire you. Visualise what your life will look and feel like once you’ve attained that goal. Break down your financial goals into smaller attainable milestones. As you reach them, recognise how far you’ve come, and celebrate that. The satisfaction you get from coming so far will make it less likely that you will quit later down the line.
  • Understand that it takes time. Inspiring goals are not reached overnight. Saving for retirement and building long-term wealth are more like marathons than a sprint. It’s about taking one stride at a time, at a steady pace, until the finish line is reached. As you work toward such goals, your advancement will become manifest and your joy will increase.
  • Make small, but consistent improvements. These are easy to sustain and create substantial gains over time. For example, you could start small by saving just R10 a month, scaling up to R50 a month, and then R100 next month, and so on. In just twelve months, imagine how much you could have saved! Being consistent can add to your feelings of accomplishment and reduce any feelings of disappointment.
  • Expect setbacks. Nothing worthwhile is ever achieved without challenges. Prepare for setbacks where possible and when you fall, learn from the experience, and get back on track again. Stay focused on the prize and steadily push forward.

Financial Endurance Challenge

This November, we challenge you to overcome “Novemberitis” and build your financial endurance in the weeks leading up to the festive holidays.

  • Take it one day at a time. Significant improvements are often the result of tweaking small habits. Aim to make minor improvements each day.
  • Make it a habit to put money aside, honour your financial commitments first, and then plan your holiday spending responsibly.
  • Avoid shopping malls, advertising gimmicks, and other situations that could tempt you into backtracking on your financial progress.
  • Manage the financial expectations that your family may have of you. Remember, the more financially fit you are, the more you can look after yourself and those around you.

Now that you know what “Novemberitis” is and how to overcome it, why not reach out to your financial coach, who can help you to build your financial endurance?

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