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INDUSTRY, TECHNOLOGY, PRODUCTS and INNOVATION you want to read about

Amphenol CONEC circular connectors available from RS

S Components (RS) has announced interfaces and control and regulation
Rthe availability of a complete series of units, as well as sensor, camera and
circular connectors manufactured by CONEC robotics-based applications, the
Elektronische Bauelemente GmbH, part of the devices require only a small
Amphenol Group. installation space. Key features
Featuring 0.8mm diameter contact pins, of the connectors include
the highly compact CONEC range of M8x1 variable mounting and connection
D-coded circular connectors are fully optimised options on the device side, power and data signal on one data pair, and
for industrial automation applications. These continuous shielding.
connectors present engineers with all the Electrical characteristics include working voltages of 50V AC and
attributes necessary to meet the ISO11801 60V DC and a current rating of up to 4A at 40°C. Additionally, all the
Class D standard for up to 100Mbit/s (Fast devices are protected against water ingress, rated to IP67.
Ethernet) signal transmissions. The field attachable connectors include axial female and male
Suitable for a range of Ethernet-based connector variants and come with optional screw connections (female)
communication applications including industrial or crimp connections (both female and male).

Manage your analysis paralysis and get more financially savvy

Information overload is, conversely, one of the biggest barriers to
financial health. Here’s how to stop the analysis paralysis.

By Sakhile Mabena, CEO of OFIN

ith the best of intentions, many people turn to Google when trying to improve their financial
Whealth but five minutes later, they give up. Why? Because searching for “how to improve
financial health” delivers no less than 83 ‘steps’ to do so on the first page of the search results. Any
would-be financial mogul has just been bombarded with so much information – some of it simple,
some of it complex, and some of it conflicting – that they’re too overwhelmed to even start.

Down the rabbit hole
Though there’s an abundance of information available on any given topic today, the financial services
sector is particularly prone to information overload. Financial products are often complex and can be Sakhile Mabena
overwhelming for consumers who aren’t financially literate or astute. goal at New Year and not following through –
On top of that, the conventional view that the more choices we have, the more likely we are to find and this applies to finances too. Sometimes,
the best solution, is a fallacy. Research shows that if there are too many options, people are less likely the reason is our tendency to favour immediate
to buy a product. More options require more time and effort to process, causing processing overload gratification over long-term rewards. Other
and leading to inertia or procrastination. Even if the more persistent consumer pushes through, he/ times, the goal was simply too ambitious.
she is more likely to have buyer’s remorse - their high expectations, given the variety of options, leaves The best way to overcome the first is to use
them feeling less satisfied than customers who had a limited selection. a so-called commitment device. In the world
of finances, this could be a savings account
Coming up for air that disallows withdrawals or imposes fees for
The answer? Limit the flow of information. As Voltaire said: Best is the enemy of good. By trying to early withdrawal, or a debit order that collects
learn everything about financial health, you’re setting yourself up for failure. So limit yourself to two or savings or retirement funds on pay day.
three choices. Do some basic research, but stop there. It’s much better to get started somewhere and For the over-achievers, remember to keep
learn and adjust as you go along, than to aim for perfection and never achieve anything. things simple. Aim for smaller goals – don’t
Secondly, set a deadline. Decide to read up for an hour or so each night and to then make your overspend, take out insurance, aim to beat
decision within a week. This can help you cut down the options. inflation, and continuously improve your skills
Lastly, talk to someone in person. It doesn’t have to be a financial advisor, but it should be – and trust that, in the long-term, these small
someone who has some experience and seems to be financially healthy. Ask them to guide you on how steps will reap big rewards.
to get started. Ofin is a venture-backed fintech start-up
specialising in a mobile application solution
Taking action for South African automobile drivers owning a
Information overload is, of course, not the only reason people don’t take control of their financial transport business.
health. Once they have the right information and have set a goal, the so-called intention-action gap
is the next big canyon they must traverse. Everyone has experienced the destructive cycle of setting a For more information visit: www.ofin.mobi

EngineerIT | November 2021 | 46