Setting Your Financial Resolutions for 2025

It’s that time of year again – to set your New Year’s Resolutions. Vows to exercise more, eat healthier and lose weight tend to be common. But also at the top of the list is saving more money. In order to do that, you need a strong financial plan in place. So think bigger, and follow this advice from AOL.com when setting your financial resolutions for 2025:

Build a Better Budget and Become More Financially Literate

Budgeting may sound simple, but it’s also one of the most effective tools to take control of your finances. A solid budget helps you track your income, expenses and savings to ensure you are living within or even beneath your means.

• Create two budgets — a monthly zero-based budget and a basic emergency budget for unexpected situations.
• Take steps to manage and organize your debt, even if you can’t make an immediate payment.
• Once a day, read something about finances for three to five minutes.

Keep Your Financial Plan and Path Organized

Organizing your finances helps keep you on track and get you where you want to be by letting you know where you’re starting. Whether it’s past debts, present transactions or future career moves, having your financial house in order will keep you saving where you can and spending only when you have to.

• Establish a system to organize financial documents for easy access and reference.
• Work on developing a structured career path with your current employer if you plan to stay there longer than a year.

Preserve Your Assets in Case of Emergency

Protecting your assets by estate planning and creating emergency savings is not only important for you but also for the ones you love. These accounts and procedures protect you against unforeseen financial shocks like medical emergencies, car repairs, job loss or untimely death.

• Set aside $20 each week to start building an emergency fund, aiming for a year-end cushion of $1,040.
• Regardless of assets, create a will to ensure your wishes are known and respected.
• Regularly review and update insurance policies, making sure beneficiaries are up to date.

Invest in Yourself and Your Future

Retirement may feel like a distant future, but the earlier you start saving, the more time your money has to grow. For example, if you haven’t been contributing regularly to a retirement account, 2025 is the perfect year to change that. You can also learn about investing in other ways such as stocks and bonds, or in developing new skill sets for higher earning potential.

You can read the full article here.

The benefits of getting your financial life in order go beyond just the ability to save more money. Financial planning provides you with a sense of purpose, peace of mind, and a secure future. What better way to start off the new year?