The New Year is a natural time to hit reset—especially on personal finances. It’s a season of fresh starts, where many of us pledge to break bad habits, build better ones, and overhaul our financial lives.
But resolutions often fizzle out faster than we’d like. According to research from Baylor College of Medicine, 88% of people who set new year’s resolutions give up on them within the first two weeks of the year.
Lasting change doesn’t require grand, sweeping promises that fade by February. Instead, imagine focusing on small, meaningful shifts that are practical and achievable. In this article, we’ll explore six realistic financial resolutions for 2025 that you can actually stick to—laying the groundwork for a more abundant and fulfilling future.
Here are 6 financial resolutions to improve your financial well-being in 2025 and beyond:
#1: Conduct Periodic Personal Financial Reviews
Regularly reviewing your finances is one of the most impactful financial resolutions you can make. Setting aside time—whether monthly, quarterly, or biannually—for a personal financial check-in helps you stay on top of your income, expenses, savings, and investments. It’s an opportunity to assess your progress toward financial goals, identify areas of overspending, and fine-tune your budget or strategy as needed.
Think of it as a wellness routine for your money. Just like you’d schedule a health checkup or a car service, this habit ensures your financial life runs smoothly.
By staying proactive, you’ll gain more control over your finances and feel less stressed when unexpected expenses pop up. This resolution sets the foundation for long-term financial stability and peace of mind.
#2: Align Your Spending with Your Values
When setting financial resolutions, ask yourself: Does your spending reflect what truly matters to you? Aligning your financial choices with your personal values doesn’t just pave the way for greater financial security but also deeper satisfaction.
Start by identifying your core values—whether it’s family, travel, personal growth, or giving back—and evaluate if your spending habits support those priorities. For example, if quality time with loved ones is important to you, consider redirecting money from unnecessary subscriptions or impulse purchases toward savings for a memorable family trip.
This resolution isn’t about sacrifice or deprivation; it’s about making sure your money flows toward what enriches your life and aligns with your goals. By being intentional about your spending, you can create a financial life that feels both meaningful and fulfilling.
#3: Commit to a More Minimalist Lifestyle
Incorporating minimalism into your financial resolutions doesn’t mean sacrificing all luxuries—it’s about streamlining your financial life to focus on what truly matters.
Start by evaluating recurring expenses, such as subscription services or memberships, and eliminate those you no longer use or need. You can also simplify your accounts and investments to reduce unnecessary complexity and make managing your finances easier.
This minimalist approach isn’t just about spending less; it’s about creating mental clarity, reducing financial stress, and freeing up resources for the goals and experiences that bring you the most joy. By focusing on value over volume, you can align your finances with your priorities and create space for a more intentional, fulfilling life.
#4: Address Difficult Conversations About Money
Recent research from Empower reveals that 62% of adult Americans don’t talk about money. While money can no doubt be a tricky topic, making open communication part of your financial resolutions is key to fostering financial harmony.
Whether it’s with a partner, family members, or friends, setting aside time for transparent discussions about budgets, goals, and concerns helps ensure everyone is aligned. If you’re in a long-term relationship, focus on syncing your financial priorities, such as saving for retirement, managing debt, or planning for major life events.
With parents or adult children, approach sensitive topics like estate planning or financial support early to avoid misunderstandings later. These conversations might feel awkward initially, but they can also help build trust, strengthen relationships, and create a foundation for more informed and confident financial decisions.
#5: Invest in Financial Literacy
Enhancing your financial knowledge should be at the top of your financial resolutions this year. Strengthening your financial literacy—whether it’s learning the basics of investing, understanding how interest works, or breaking down complex financial concepts—can be one of the most empowering and transformative steps you take.
Dive into books, sign up for online courses, or tune in to reputable financial podcasts to expand your understanding. This knowledge not only builds confidence but also empowers you to make smarter decisions, like choosing the right mortgage or maximizing your 401(k).
Think of financial literacy as an investment in yourself—one that delivers lifelong returns and equips you to navigate every stage of your financial journey with clarity and control.
#6: Establish or Update Your Estate Plan
Incorporating estate planning into your financial resolutions for 2025 is a powerful step toward securing your financial well-being and protecting your legacy.
Estate planning isn’t just for the wealthy—it’s essential for anyone with assets, dependents, or the desire to ensure their wishes are followed. Nevertheless, data shows that only 33% of U.S. adults have a basic estate plan.
If you don’t have an estate plan, this is the perfect year to create one. Start with the essentials: a will, powers of attorney, and updated beneficiary designations.
If you already have a plan, take time to review and revise it to reflect life changes such as marriage, divorce, the birth of children, or major financial milestones. An up-to-date estate plan not only ensures your intentions are honored but also spares your loved ones unnecessary legal and emotional burdens.
TrueNorth Wealth Is Here to Help
As you step into 2025, consider these six financial resolutions as a roadmap to a more prosperous and fulfilling year. By focusing on small, achievable changes, you can build a solid foundation for long-term success.
Remember, lasting financial well-being isn’t about perfection; it’s about progress. With these resolutions in place, you’ll be well on your way to creating a financial future that reflects your goals, priorities, and dreams.
At TrueNorth Wealth, our team of fiduciary CFP® professionals is here to help you create a personalized strategy to manage your finances with confidence and achieve your long-term goals. Let us guide you toward a financially secure future, so you can focus on what matters most.
TrueNorth Wealth is among the top Wealth Management firms in Utah and Idaho, with offices in Salt Lake City, Logan, St. George, and Boise. At TrueNorth Wealth, we focus on helping our clients build long-term wealth while maximizing the enjoyment they receive from their money. We do this by pairing our clients with a dedicated CFP® professional backed by an incredible team.
For our team at TrueNorth, it’s about so much more than money. It’s about serving families all across Utah and helping them achieve freedom and flexibility in their lives. To learn more or schedule a free strategy session, visit our website at TrueNorth Wealth or call (801) 316-1875.
