New Year, New Money Moves: 10 Financial Resolutions to Try

With the ushering of a new year, there's often a buzz of excitement around setting resolutions. If you're thinking of a resolution to give your money a makeover, you're not alone. According to Pew Research, in 2024 among Americans who committed to a new year's resolution, 61% of folks say they made resolutions about finances.

Why not jump on the bandwagon and embrace a new year, a new "money you?" Let's look at 10 financial resolutions that are all about making smart money moves. Sure, sticking to resolutions can be tough. That's why these new year financial resolutions are designed to be realistic and doable.

1. Start a Savings Challenge You'll Enjoy

Consider a creative savings challenge. Be sure to pick one that you would enjoy–or is relatively easy. For instance, the 52-Week Money Challenge is where you save $1 the first week, $2 the second week, and so forth. After 52 weeks, you'll have saved a grand total of $1,378. A spin on the 52-Week Money Challenge is to reverse it, so you save $52 the first week, then make your way down.

Another creative savings challenge is to round up your savings. Some savings accounts and money management apps have built-in round-up savings features. Roundups automatically round up your transactions to the nearest dollar and save the difference. You can also automate your savings so you save the same amount each week or month. You can put it toward a specific goal, such as emergency savings or a vacation fund.

You can up the fun by turning it into a game, maybe with a friend or a partner. When you have an accountability buddy, you can keep tabs on each other with regular check-ins. It can help you stay on course and keep the momentum going.

2. Create a "Treat Yourself" Fund for Guilt-Free Splurges

Another simple way to boost your finances is to set aside a small portion of your budget for something you love. Saving for emergencies is important, but you'll also want to stash funds for what fuels your passion and brings you joy.

For instance, consider stashing cash toward a hobby, fine dining, or day trips. Having a "treat yourself" fund for those guilt-free splurges can help keep you motivated while maintaining balance on your financial goals.

3. Set Up a "Rainy Day" Fund for Those Unexpected Moments

You're in good company if you don't have enough set aside for an emergency. Recent surveys reveal that nearly 6 in 10 Americans don't have an emergency fund, and 40% say they would use a credit card to pay for an unexpected expense.

As you're well aware, it's important to have a little extra set aside for life's surprises. You can treat it like a "when life throws you a curveball fund" that helps keep the stress and anxiety at bay when the out-of-the-blue expense happens.

To start, set aside a small amount each week to build it up over time. It doesn't have to be huge—$5 a week makes a difference. Once you're more comfortable or can afford it, ramp up the amount or commit to saving a percentage when you receive "bonus money," such as a tax refund, sales commission from your job, or a cash gift for your birthday.

4. Make a Vision Board for Your Financial Goals

A vision board is a visual representation of your goals. Creating a vision board of what is most important to you can help you align it to your financial actions. Plus, it can help you make actionable steps to reach those goals. Placing your vision board in a prominent place in your home can help make saving more motivating and manifesting them a greater reality.

Consider creating a vision board with images of what you're saving for, such as a trip, new tech, or dream home. Then, add your target date and the ideal amount you'd like saved. Vision boards are living, breathing things. You can revisit your goals and update them regularly.

5. Find a "Budget Buddy" and Make Saving a Team Effort

Just like with your savings challenge, you can find a friend to help you stay accountable with regular check-ins. Turn them into mini hangs, where you grab a coffee or go for a walk and share your progress.

To up the fun, consider thinking of your budget as holiday desserts. Maybe your money management style is a bit like fruitcake, where you want to spend money on everything and anything. If that's the case, consider working with your budget buddy on making trade-offs or scaling back in some areas.

If you find yourself falling behind or not making as much progress as you might like, it's also an opportunity to chat about how you can improve or ways to keep up the momentum. Another way to make saving a collaborative effort is to suggest friendly competitions, like who can save the most each month.

6. Automate Your Savings So You Don't Even Notice It

As they say in personal finance, "make it easy to do the 'right' thing for your money, and hard to do the 'wrong' thing for your money." Setting up automated transfers can make saving feel effortless.

By "setting it and forgetting it," you can yield better results. You can link automatic savings to a savings challenge, such as the 52-week savings challenge mentioned above. Or you can set aside the same amount on a regular basis.

If you're autosaving the same amount each week or month, see if you can increase the amount, little by little, over time. Let's say you are setting aside $5 a week. That adds up to $260 a year. What if you ramp the amount to $10 a week? That's $520 a year. Every dollar makes a difference.

7. Earn Extra Cash With a Side Hustle You Love

Taking on a side hustle can be tough when you already work a day job. But you can add some fun to your life by taking on a side hustle that can help you mix things up and be gasp enjoyable. If you have an artistic side, consider selling art or crafts through an online marketplace, sign up for dog walking, or tutor in subjects that are dear to you and that you're well-versed in.

According to a Self survey on side hustles, 30% of working Americans who have a side hustle do so to cover basic costs. And according to Self data, the average side hustle brings in $688 a month. That said, about half of folks in the Self survey reported earning less than $250 from their hustle. You can use that extra income toward a special goal or to pay down that holiday debt faster.

8. Track Your Spending Without Feeling Guilty

The idea of budgeting can often be met with a groan. That's partly because it can feel tedious, restrictive, or force you to look at your finances when you'd rather avoid it at all costs.
Using budgeting apps can help you see your cash flow more clearly and make tracking expenses easy.

Remember: It's about awareness, not about feeling deprived. Getting a stronger grasp of your cash flow can help you figure out where exactly your money is going, and to make better decisions.

10. Set a "No-Spend" Day or Week (and Turn It Into a Challenge)

Make a game out of avoiding spending for a set period. If you're intimidated by the idea of a no-spend challenge, consider starting with a trial period. Instead of committing to a month, try a week. Or maybe attempt a no-spend challenge during the weekday, when you're prone to spend less.

Other rules include what types of purchases you can make (e.g., essentials like groceries, gas, and household items). Consider giving yourself a hall pass to buy a small item during your stint. You can use up the remaining balances on your gift cards and enjoy free activities, like a hike or karaoke night.

A New Year, a New Financial You

As you set financial goals for the new year, remember that it's about progress over perfection. If you end up lapsing, offer yourself grace and pick up where you left off. Remember: It's about making the new year brighter and better, one step at a time. Plus, why not get creative and have fun while you're at it?

Frequently Asked Questions (FAQs)

How to start the new year off right financially?
To start the new year off right financially, figure out what area will offer you the greatest impact moneywise. Consider setting a resolution, but make it reasonable and give yourself plenty of time to achieve it.

How to get ahead financially in 2025?
To get ahead financially in 2025, consider revisiting your budget, focusing on paying off your debt, checking your credit score, and automating your savings. You can also look for ways to earn more money at your current job or take on additional side hustles.

How many people make financial New Year resolutions?
According to Pew Research, in 2024 at least 30% of Americans made at least one New Year's resolution. Most people make resolutions about their health, diet, or exercise. Other resolutions are about finances, personal relationships, hobbies, work, and career.

About the author

A personal finance writer for over 8 years, Jackie Lam covers money management, lending, insurance, investing, and banking, and personal stories. An AFC® accredited financial coach, she is passionate about helping freelance creatives design money systems on irregular income, gain greater awareness of their money narratives, and overcome mental and emotional blocks.

Her work has appeared in publications such as Bankrate, Time's NextAdvisor, CNET, Forbes, Salon.com, and BuzzFeed. She is the 2022 recipient of Money Management International's Financial Literacy and Education in Communities (FLEC) Award, and a two-time Plutus Awards nominee for Best Freelancer in Personal Finance Media. She lives in Los Angeles where she spends her free time swimming, drumming, and daydreaming about stickers.

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