Financial Resolutions You Should Consider This Year

As we step into a new year, it’s the perfect time to take a good look at your finances and set goals to improve them. Financial resolutions can help you gain control, reduce stress, and set yourself up for long-term success. Whether you’re just starting or looking to level up, here are some financial resolutions to consider this year.

1. Create and Stick to a Budget

A budget is the foundation of any financial plan. If you’ve been avoiding one, now’s the time to start. A good budget gives every dollar a purpose—covering essentials, saving for the future, and allowing for fun spending guilt-free. Tools like budgeting apps or a simple spreadsheet can make this resolution easy to stick with.

2. Build an Emergency Fund

If you don’t already have an emergency fund, make it your mission to build one this year. Aim for at least 3–6 months of living expenses. Having this cushion will keep you from relying on credit cards or loans when life throws unexpected expenses your way.

3. Pay Off Debt

Debt can feel like a weight that keeps you from moving forward. Make a plan to tackle it this year—whether that means using the snowball method (paying off the smallest debts first) or the avalanche method (focusing on the highest-interest debts). Start with small wins and watch your momentum grow.

4. Start or Maximize Retirement Contributions

It’s never too early—or too late—to start saving for retirement. If you already contribute to a retirement account like a 401(k) or IRA, consider increasing your contributions this year. If you haven’t started, open an account and begin investing, even if it’s just a little. Compound interest loves time, so the earlier you start, the better.

5. Set Specific Financial Goals

Vague goals don’t stick. Instead of saying, “I want to save money,” set a goal like, “I want to save $10,000 by December.” Whether it’s saving for a house, paying off a car, or funding a vacation, clear goals give you a target to aim for.

6. Learn About Investing

If investing feels overwhelming, make this the year you learn the basics. Start small by researching terms like stocks, bonds, and mutual funds, or work with a financial coach to build a personalized investment plan.

7. Review Your Insurance Policies

Insurance isn’t flashy, but it’s crucial. Review your health, auto, life, and homeowner’s or renter’s policies to ensure you have adequate coverage. Adjust where needed to protect yourself and your loved ones.

8. Create or Update Your Will

It might not be fun to think about, but having a will ensures your assets go where you want them to. If you already have one, take time to review and update it as your life circumstances change.

9. Cut Back on Unnecessary Spending

Identify areas where you’re overspending. Cancel subscriptions you don’t use, eat out less, or shop more intentionally. Redirect that extra cash to savings or paying off debt.

10. Work with a Financial Coach

If you’re feeling stuck, consider working with a financial coach. A coach can help you set goals, create a personalized plan, and hold you accountable.

Ready to Take Control of Your Finances?

This is your year to make real progress with your money. Whether you tackle one resolution or all of them, each step will bring you closer to financial freedom.

If you’re ready to get serious about your finances, I’d love to help. Let’s work together to create a plan that works for your life.

Schedule a free consultation today, and let’s make this your best financial year yet!