35 New Year’s Resolutions For Your Finances

New Years Resolutions: I've provided a huge list of potential financial goals for you to set in the New Year.The New Year is upon us!

Naturally, now is a good time to reflect on last year's successes and failures and to make plans for a prosperous new year.

If you need some ideas to get you started, I've provided a huge list of potential financial goals for you to set in the new year.

But first, know that these are just a list of things to do that I've come up with. Like any process of self-improvement, it's best to start with the WHY behind YOUR goals.

I'm more of a “HOW” guy myself and tend to skip over the “WHY” stuff sometimes. But believe me when I say it's important to think about the big picture and discover your purpose for all these money moves.

My WHY includes things like financial freedom, entrepreneurship, family security and flexibility, and, of course, the possibility of early retirement. What's your WHY?

Remember to keep your goals S.M.A.R.T. (specific, measurable, etc…) so you can more easily keep your resolutions.

Save More

  • Open a separate savings account to stash an emergency fund and other savings.
    • Example savings goals: vacation, new laptop, real estate, graduate degree, etc.
  • Create separate, goal-based, savings accounts for specific goals and set up automatic contributions of x amount per month/week to each.
  • Increase your workplace retirement plan contributions to get the company match.
  • Increase your workplace retirement plan contribution percentage by 1%.
  • Increase your workplace retirement plan contributions to “max it out”.
  • Open up a Roth IRA and start contributing to your retirement outside of your work plan.
  • Create an automatic contribution of x amount per month/week to your new Roth IRA.
  • Open up a self-employed retirement plan and start contributing x amount per month/week automatically.
  • Open up a 529 college savings plan and start contributing x amount per month/week automatically.
  • Open up a Flexible Savings Account or Health Savings Account (if eligible) and start contributing x amount per month/week automatically.
  • Open up a taxable brokerage account and start investing for financial freedom.

Reduce Debt

  • Create a master list of all your debts. Check your credit report to ensure you have everything.
  • Create a specific plan to systematically pay of your debts.
  • Start contributing x amount per month/week automatically to pay off your debts.
  • Call your creditors to ask about reducing your interest rates.
  • Consider using a 0% balance transfer credit card to help you pay off your debts faster.
  • Consider using a peer lending site to help you consolidate your debts and pay them off faster.

Spend More Wisely

  • Develop a zero-based budget to ensure that each of your dollars has a home.
  • Create a simple, cash-only budget for one or two trouble areas (i.e. dining, shopping).
  • Create an account with Personal Capital to start tracking your spending more closely. Use their budgeting and goals tools.
  • Plan out your upcoming major purchases and set aside time to research the best prices and best time to buy.
  • Make a list each time you go to the grocery store.
  • Go through all of your bills and call the service providers to see if you can reduce your expenses.
  • Make a list of the things you really want to spend your hard earned money on. Then slash expenses everywhere else.
  • Open a reward checking account to earn cash back for your spending.
  • Apply for a cash back credit card to earn cash back on your spending.
  • Set up automatic bill payment on all your bills so that you don't miss a payment.
  • Spend some money on a will and proper term life insurance.
  • Setup automatic contributions to your favorite charities.

Make More

  • Ask your employer for a raise.
  • Meet with a recruiter to start the search for a job, a higher paying job.
  • Get a part-time job on the nights or weekends.
  • Start freelancing.
  • Start a side-business and grow it using your nights and weekends.
  • Sell or give away x number of unused items per week/month from your home.

Got any more ideas? Leave them in the comments below.

Want My Free 31-Step Money Guide*?

Subscribe for free. Get my guide *31 Days to Improve Your Financial Life, welcome series, and regular Five Things digest. Join 30,000+ other followers.

Powered by ConvertKit


  1. Wow! That is a huge list! Hopefully people will only pick one or two to concentrate on. I almost feel overwhelmed reading it. 🙂

    Great list though. My New Year’s Resolution is to grow the side business this year and be more consistent as a blogger.

  2. We make many purchases like that too, Natalia. My wife is good at keeping receipts and making returns. She also does a good job of sorting through things to sell or give away. But I know what you mean…if you just didn’t buy the stuff in the first place…

  3. Natalia Payroll says:

    My 2011 financial new year’s resolution is to buy only the things that I will need. I have spent so much this year for some stuff which turned out to be a waste. 🙁