As the year wraps up, it’s time to give your finances a little TLC—because let’s face it, your money could probably use a fresh start too. Whether you’re dreaming of a bigger savings account, crushing debt like a boss, or just figuring out where all your money went last year (I personally think mine went to açaí bowls and avocado toasts ;) ), now’s the moment for a financial glow-up. And what better way to kick things off than by adding it to your New Year’s resolutions? Here’s your game plan to strut into 2025 with confidence, clarity, and maybe a few extra bucks in your pocket!

Check Your Credit Report

Your credit score plays a significant role in your financial health. Request a free copy of your credit report from a credit bureau like Experian and review it for errors or areas for improvement. A better credit score can help you secure lower interest rates and better financial opportunities.

Review Your Subscriptions and Spending Habits

It’s easy to lose track of recurring subscriptions and small expenses that add up over time. A 2022 study by C+R Research revealed that 42% of consumers forget about subscriptions they no longer use, and on average, they underestimate their monthly subscription spending by $133. Don’t let this be you! Take a closer look at your bank statements to:

• Cancel services you no longer use

• Cut back on discretionary spending, like frequent takeout or impulse buys

This exercise can free up cash to put toward your financial goals.

Prioritize Debt Repayment

Debt can weigh heavily on your financial health. Use the start of the year to commit to a repayment strategy:

Snowball Method: Focus on paying off smaller debts first for quick wins.

Avalanche Method: Pay off high-interest debts first to save money in the long run.

If you’re struggling to keep up, consider repayment plans that fit your budget and help you stay on track. For a more detailed breakdown, check out our other blog post around the Snowball vs Avalanche Method. 

Set Financial Goals for 2025

Clear, actionable goals are the foundation of any successful financial plan. Think about what you want to achieve in the coming year, such as:

• Paying off credit card debt or loans

• Building an emergency fund

• Saving for a specific purpose, like a vacation or home purchase

Create a Budget That Works for You

Your budget is the roadmap for achieving your financial goals. Start by:

• Reviewing your current income and expenses

• Identifying areas where you can cut back, such as dining out or subscriptions you no longer use

• Allocating funds to savings and debt repayment

If budgeting feels overwhelming, apps like Rocket Money can make tracking your spending easier. Remember, financial health isn’t about perfection—it’s about progress. Even small changes, like canceling one unused subscription or committing to a weekly budget check-in, can make a big difference over time. As you tackle these steps, don’t forget to celebrate your wins, no matter how small they seem. By starting now and staying consistent, you’ll set the tone for a year filled with confidence, clarity, and financial empowerment. Here’s to making 2025 your most financially savvy year yet!