Happy 2025! Did you make any New Year’s resolutions? Most of us make at least one or two, and they have usually been left in the dust by March. I want to give you some tips to stay on track, especially if your resolutions are about your finances.
However, I don’t want to stop there. I’d like to offer some ideas for different sorts of resolutions. These resolutions involve being kind to yourself and giving yourself grace. If you hate the stress of a list of tasks, these resolutions are for you.
But let’s get started by looking at how to be successful if you have money-related goals. By following a few steps, you can stay on track for the year!
First, create concrete, measurable resolutions. Vague statements can’t be measured. If your goal is to save more money, you may remain continually frustrated. How much is “more”? Instead, give your goal a specific amount. Maybe you want to save $25 a month. Once you have saved it, the pressure’s off. Of course, if you can save more, that’s great, but you should know your goal.
Next, create reasonable resolutions. If you are saving nothing right now, you probably won’t be able to save $500 a month. Don’t feel bad—you’re not alone. People often set unrealistic savings goals. They make up a number rather than selecting amounts based on their income and expenses. Often, they can’t save as much as their arbitrary decision, and when they don’t reach their goals, they give up in despair. Then, they save nothing. Instead, be kind to yourself and commit to a goal you can achieve. Then, do it without fail.
Another way to avoid becoming overwhelmed is to break large resolutions into smaller pieces. If you have a significant goal for later in the year, divide the cost by the number of months until the event. Then, save that much each month. This strategy works well for holiday spending and vacations. Most people have both expenses, often occurring approximately six months apart. If you can’t save the amount you need in six months, you might be spending too much.
You can use the same strategy to save for larger purchases like vehicles or homes. Put aside money each month, and you will have a significant down payment by the time you need to make the purchase.
An excellent resolution is to maximize your company retirement plan savings. If your employer matches your contributions, take full advantage of the 100% return on your investment. If you contribute three percent and they match it, you have doubled your money before you earn any portfolio return. You may also need to save additional funds but begin by getting all the free cash.
These tips will help you with your financial goals, but your prosperity is more than your money. Improve your life by getting together with people you love. In 2025, make time for lunches, dinners, and cups of coffee with family and friends. If money is tight, share picnic sandwiches or have potluck meals.
Prosperity is also taking care of yourself. You don’t need fancy gyms or salons. Take a walk. Eat real food every day. Get enough sleep. You matter, and you deserve less stress. Sometimes, it’s easy to take care of everyone but yourself. And although hard work is great, you should balance your job and your life. I’m not great at this either, so one of my New Year’s resolutions is to set measurable goals for my tasks in addition to my financial savings. Then, I know when I am finished rather than having this unending sense that I should be doing something. You might find similar relief.
The New Year is a fresh start—a wonderful time to start over with reasonable goals. I hope your 2025 is everything you want. Taking a few steps can improve the likelihood of your success.