Whether it’s travelling the world, starting a side business, or pursuing a creative hobby, contrary to popular belief, passions are not just luxuries but are in fact real-life goals that deserve a place in your financial plan. This is the view of Sean van Zyl, Certified Financial Planner® at Old Mutual Personal Finance, and he believes that treating passions as life goals makes them more attainable.
“Too often people think passions are something they’ll get to ‘one day’ after covering the essentials like retirement and education. But your passions are part of your life. They can be achieved if you treat them as such, plan and save for them with the same seriousness as other long-term goals such as your retirement etc.,” van Zyl explains.
He suggests the best way to get onto this journey is to start by identifying and prioritising your goals, then working out what they will cost. “Break it down into a monthly savings amount. If you want to take a R100 000 trip in 12 months, that means saving about R8,300 each month. Once you know the number, you can adjust your spending with your income to make it work because you now have a clear target” he says.
Building passion savings into your budget is critical. “If your goals sit on the sidelines, they’ll always be neglected. Treat them like a debit order and that way you make those savings non-negotiable and you quickly build momentum,” van Zyl says.
Funding these goals often requires trade-offs, such as trimming back on entertainment or boosting income through side hustles.
“Poly-jobbing is on the rise in South Africa. According to the latest Old Mutual Savings and Investment Monitor, close to six in ten people are ‘poly-jobbers, with the trend even more pronounced among the youth with 75% of those aged 18 to 29 falling into this category. So many are using their additional income to fuel their dreams. It’s a powerful way of turning passion into a goal that feels within reach,” explains van Zyl.
van Zyl advises that the decision on where and how to invest should not rest on you alone. “Your financial adviser, as the expert, will guide you, because investing is not separate from your financial plan but an integral part of it”.
“All you need to do is make the decision, be ready to make the trade-offs, start your journey, and commit,” says van Zyl.
Importantly, notes van Zyl, is that people often underestimate the true costs of pursuing passions. “A holiday is not just about the ticket price, it’s also including food, transport, entertainment, visas, and other extras.
van Zyl also points out that saving for one’s passion isn’t only about money. It’s about motivation, he says.“When you work towards something that excites you, you’re more likely to stay disciplined with your finances overall. Passions give you a sense of purpose and reward along the way, and that energy can spill over into how you manage bigger financial commitments too. The journey becomes as important as the destination,” he adds.
“When you recognise that passions are real-life goals and not just luxuries, you give yourself permission to plan for them. And with a solid financial plan, they stop being ‘someday dreams’ and start becoming achievable milestones,” says van Zyl.
