New Year’s resolutions will be made. Some resolutions will be kept and some will be forgotten before January is through… Who knows what the new year will have in store? Whether your resolution is to loose a few centimeters or exercise more, one worthy goal is to work towards increasing your money skills in 2022.  Skills development is always a commendable objective: every day is a school day – in life and in finances.

What are a few things you can do to improve your money skills and help you to become more confident and assertive in the way you handle your finances?


Knowledge is power, they say, and equipping yourself better will go a long way in increasing your money skills. Read financial books or do a course that can educate you.  There are many experts who have shared their experience and expertise: set a goal to read one book about finances or attend a course that can widen your understanding of money matters.


Set up a budget and resolve to stick to it.  As we have advised in a previous blog, working toward having and keeping to a monthly budget is one of the most helpful money skills there are.

Reduce Expenses

Learning to analyse and prioritise expenses is a helpful skill to acquire. Sure, there are some expenses we can’t go without, but there are some things we can cut out altogether. Make a list of the expenses you have and honestly evaluate them.  Are there things you can eliminate? Where can you reduce the essential expenses? E.g. Is there something you can do to reduce your electricity bill? Your fuel expenses? Your monthly grocery bill?

Pay Off Debts

Even if you can’t be completely debt free, clever debt repayments is a skill worth learning.  Some debts have lower and others higher interest rates.  Make sure that you know which debts are more expensive and endeavor to pay off more expensive debts quicker.  Make it your mission to decrease your credit facilities in 2022, and not increase them.  Leave your credit cards at home when you go to the shops.

Start Saving

Just do it! Cultivate the skill of saving every week. Start small and look for ways to increase your savings over time. This is one skill that you will never be sorry you took the time to learn! 

Learn to Invest

Together with saving, investing your hard earned money is another way to increase your wealth.  Learning to make wise investments is profitable.  Ask your knowledgeable Red Dot Now financial advisor to help you hone your investment skills.

Red Dot Now provides accounting, payroll and tax compliance services using the best of breed online technology.

Should you want to discuss this or any of our services further, contact Ryan Coates on e-mail at