Managing money is about far more than knowing what to do. Most people understand the importance of saving regularly, reducing debt, budgeting wisely and planning for the future. Yet good financial intentions are often challenged by everyday temptations, rising living costs, easy access to credit and the constant pressure to keep up with lifestyles presented on social media and in advertising.
This pattern is known as self-control bias, a behavioural tendency that makes it difficult to stay committed to financial goals even when we know they are in our best interest. Emotional spending, delaying savings and prioritising immediate wants over future needs can quietly shape our financial future. Joining us is Dr. Frank Magwegwe, Senior Lecturer at GIBS Business School (Gordon Institute of Business Science)