The Present Trap: Why Short-Term Thinking Hurts Long-Term Financial Health
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The Present Trap: Why Short-Term Thinking Hurts Long-Term Financial Health
The Present Trap: Why Short-Term Thinking Hurts Long-Term Financial Health
Satrix Managers
Q3 of 2024 | 8 months ago
In South Africa’s consumption-focused culture, where many struggle to make it to month-end and stokvels tend to cash out come December, there are perpetuating cycles of present bias. Preoccupation with the present leaves little room to invest in the future. Shifting to a longer-term money mindset will require a strong emphasis on financial education, literacy, learning, and of course, a change in mindset.