Why Smart People Still Make Money Mistakes in South Africa

Summary

Jaco Fouché, a financial advisor at Jenwil BlueStar, talks about behavioural finance and how even smart people make money mistakes. He explains that many financial decisions are influenced by emotions and biases rather than logic. This means people often make choices that are not in their best financial interest, such as impulsive spending, poor investment decisions, or delaying saving. Understanding these patterns can help individuals avoid common pitfalls and improve their money management. Fouché’s insights encourage South Africans to be more aware of their financial behaviours and to consider long-term planning instead of short-term emotions when managing money.