Is investing your new year's resolution? Take action now

THERE are some classic new year resolutions: exercise more, spend more time with loved ones, quit drinking, and improve your finances. Of these oft-heard declarations, bettering one's financial situation may be one of the most challenging. Where should we start with such a seemingly complex task?

According to research commissioned by Syfe, 56 per cent of people spend more or a lot more than usual during the end-of-year holiday season, despite 94 per cent of the respondents saying they had personal finance resolutions for 2022.

This overspending puts us at a disadvantage when it comes to achieving our financial goals as January rolls in. In fact, 7 out of 10 respondents specifically said they want to grow their money through investments next year. For those that want to make 2022 a year to invest, there are 2 clear challenges: making prudent financial decisions over the festive period (and beyond), and then growing those extra funds through investing.