Including your finances in your New Year’s resolutions can help you kick off the new year right. What are your financial goals? Is there anything you want to change about how your money habits? Whatever the time of year, it’s always good to start taking steps to improve your financial situation, but the start of a brand-new year is a particularly good time to get going!
2025 New Year’s Resolutions Statistics
According to Finder, 3 in 4 Brits will be making New Year’s resolutions for 2025. As we all know, many people tailor their resolutions towards health and wellbeing, pledging to do things like take out a gym membership, eat healthier and partake in challenges like ‘Dry January’.
However, resolutions in the area of money are the second most popular category for New Years resolutions, with 32% of people setting goals in this area. In fact, the number of Brits making money resolutions has seen a year-on year increase.
Out of all of the generations, Gen Z individuals and Millennials are the most focussed on making resolutions to do with their finances:
- 46% of Gen Z are making a money resolution for 2025
- 46% of Millennials
- 30% of Gen X
- 14% of Baby Boomer
- 10% of Silent Generation
Ideas for Financial New Years Resolutions
Building savings – this can help you meet any financial goals easier, and also can help you stay prepared for the unexpected by building emergency savings too.
Create or alter your budget to help you stay on track each month. A budget can help stop us from spending more than we have and allows us to identify where we might be spending too much, where we can afford to spend more, and where we can put money into savings.
Get on top of your debts – this may involve increasing your monthly payments, paying more than minimum payments, creating a budget to better tackle your debt, or seeking help from free debt advice charities. Sometimes, people consolidate their debts, combining multiple debts into a single loan to lower monthly payments and make paying their debt easier. However, this is not always the best option, and so you should seek regulated, qualified financial advice that is specific to your own financial situation before making any big decisions.
Pay off your credit card debt – make a note of the total amount you owe, and the balance and interest rate of each card you have. Once you know the amount you are dealing with, you can then start to tackle it, by taking steps such as paying more than minimum payments, targeting cards with higher interest rates, and cutting down on non-essential spending.
Keep an eye on your credit score so that you can take steps to improve it when you see opportunity to. Keeping an eye on your credit score also allows you to spot any errors, making it easier to prevent mistakes from affecting your credit profile in the long term.
Cut down on spending – for example you could go through any subscriptions and work out which ones you still want to keep, cut down on take-aways or buy less clothes!