6 Resolutions to Get Your Finances On Track for 2025

In 2023, we were sitting at a 3.4% inflation rate. The annual inflation rate is significantly lower, ending at 2.7% for 2024, according to the US Inflation Calculator and U.S. Bureau of Labor Statistics. While that’s all great, Americans are still reeling from high inflation rates, the 2020 pandemic, and most recently, the stress of the holiday season.⁽¹⁾

The start of a new year is the perfect time to reassess your finances and set resolutions to improve your money habits. Whether you’re tackling debt, building savings or just trying to feel more in control, here are six actionable resolutions to help you take charge of your financial health in 2025.

1. Create or review your budget.

A great way to start off the new year is a budget review.

Review your income and expenses to spot areas where you can save, like cutting unused subscriptions or trimming takeout costs. There are also plenty of budget apps to check for a streamlined approach, such as You Need A Budget (YNAB), Empower, Credit Karma’s budget app and Goodbudget.

2. Set a savings goal.

A great New Year’s resolution is a savings goal. You could make a short-term savings goal, such as saving $1,000 in January to recover from holidays, or set 12-month goal of saving $10,000 in one year.

There are also challenges that went viral in 2024, namely the 100-envelope savings challenge. This challenge requires saving an amount for 100 days straight, with the end goal of amassing a grand total of $5,050.

No matter what savings goal you have, a well-actionable plan is key. You can set up automatic transfers to a savings account, check out savings accounts with subaccounts to sort goals and look to a high-yield savings account to passively grow your funds.

3. Pay down your debt.

High-interest debt, like credit cards or payday loans, can be a huge financial drain. Thanks to their high interest rates, every passing month you don’t resolve debt means more interest charges.

There are two very popular strategies to help pay down high-interest debt: the debt snowball (paying off smaller debts first) or the debt avalanche (tackling higher-interest debts first). If you’re juggling multiple debts, consider a consolidation loan to combine them into one payment and aim for a lower interest rate to save money in the long run.

4. Build or revisit your emergency fund

An emergency fund is your safety net for unexpected expenses like medical bills or for times when income is sparse.

The size of your emergency fund is going to differ from your neighbors, as the right amount depends on your monthly expenses. It’s recommended to have at least three to six months of monthly expenses in an emergency fund.

5. Revisit your retirement plan

At the beginning of 2025, check on your retirement plans and savings to see if you’re on track. If you haven’t already, figure out how much you’ll need to retire comfortably by estimating your future expenses, lifestyle and retirement age.

Mess around with investment calculators to set a target and check if your current savings, like a 401(k) or IRA, are on pace. If not, consider increasing your contributions, adjusting your portfolio, or checking out alternative investments or additional sources of income.

6. Improve your financial literacy

Take the time to learn about topics like investing, retirement accounts and credit scores. There are a lot of ways to go about this, but you could read some books, attend workshops or explore free online resources to build your knowledge. The more you understand your financial options, the better decisions you’ll make in 2025 and beyond.

Bottom line

Make 2025 a fresh start. Whether you’re focusing on budgeting, saving or paying down debt, consistency is key. Small, manageable changes over time can lead to big financial wins. Take the first step today, and by this time next year, you could be thanking yourself for it.

If your bank account wasn’t working for you in 2024, it might be time for something new. See our comprehensive guides and best lists for all things-banking.

Written by

Bethany Hickey

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

Bethany's expertise

Bethany has written 445 Finder guides across topics including:

• Personal finance
• Banking
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• Cryptocurrency and NFTs