50 New Year’s Resolutions About Money

Happy New Year! It is the beginning of a new year and like many people out there you are likely planning to make new year’s resolutions to improve your life this year.

Many years I make financial related goals and resolutions for improving our finances for the new year. My goals are generally about being more frugal and spending less money to improve our savings rate.

Being more frugal is just one type of New Year’s resolution but there are many other ways you can plan to improve your finances in the coming year. Today I’m sharing 50 of the best financial New Year’s resolutions you can make to improve your personal finances.

If you haven’t already set your goals for the year, consider one of these 50 ideas for different financial related New Year’s Resolutions you could make this year. It’s a great time to get your money in order!

50 Financial New Year’s Resolutions

  1. Update your personal finance goals. Set new goals for the year and the next decade too so you know what you are aiming to achieve.
  2. Track all of your spending every month. Tracking your spending is the key to budgeting success.
  3. Check your credit score and learn how to improve your credit score. A good credit score will lead you to better deals on mortgages and more.
  4. Grow your net worth each month. Do this by increasing your savings, lowering your debt, and tracking your net worth each month.
  5. Lower your monthly food expenses by spending less on groceries and finding ways to plan cheap meals.
  6. Lower your entertainment spending for the year. Find ways to cut your expensive entertainment in favor of cheaper options.
  7. Lower your overall spending per month. Find ways to spend less on what you are already buying or things to stop buying.
  8. Have more free entertainment weekends where you do fun things without spending money.
  9. Take up a frugal or free hobby. There are many options and you can look online for new ideas on things you can learn to do for free.
  10. Stick to your budget monthly. If you have not created a budget before, the new year is the perfect time to create your first budget.
  11. Live within your means. This means resolving to never spending more than you are earning in a month.
  12. Build an emergency fund. Emergency funds are incredibly useful and can come in handy when unexpected events happen.
  13. Start or increase donations to charities. Find the charities you love and plan to give them more each month this year.
  14. Start a retirement account and increase retirement savings for the year so that you are funding your future.
  15. Fully fund your 401k for the year if you are not already doing so.
  16. Fully fund your Roth IRA for the year. Start a Roth IRA is you are eligible and have never started one before.
  17. Transfer high interest debt to 0% offers so you can pay your debt off with less interest.
  18. Pay your credit card bill monthly. Using credit cards responsibly is a smart way to get extra rewards.
  19. Pay off your credit card debt if you have any.
  20. Pay off your student loans if you have been dragging them out.
  21. Pay off your car auto loan if you have a monthly car payment.
  22. Pay off your mortgage or contribute more toward your balance this year so you can pay off your mortgage faster.
  23. Review your life insurance needs and adjust or buy policies.
  24. Review your disability insurance needs and adjust or buy policies.
  25. Review your home insurance needs and adjust or buy policies.
  26. Review your auto insurance needs and adjust or buy policies.
  27. Plan your estate in case something tragic happens. Have a will in place so your loved ones know what to do with your estate.
  28. Talk to your loved ones about money more often and plan to have monthly date nights or family meetings where you talk about money and your spending. It is important to get on the same page about money with your spouse.
  29. Save for and go on a vacation without going into debt to afford it.
  30. Save for and buy one expensive item you really want this year without using debt to buy it.
  31. Save for and buy a large stock in a company you believe in. You can start or build a portfolio of stocks with companies you love.
  32. Save for a down payment on a house if you are feeling ready to purchase a home.
  33. Make plans to get a raise at your job. Make a list of steps you can take in order to further your career this year.
  34. Look for better paying jobs. This is especially smart to do if you are needing a raise and couldn’t get one.
  35. Go back to school to gain better skills. Look into programs for new careers that earn more money.
  36. Start a side hustle to earn more money. There are many side hustles you can start with little upfront cost.
  37. Start a business and learn how to grow it in order to earn more money.
  38. Start a money making blog so you can earn money online in the new year.
  39. Become recognized as an expert in your field. Look into opportunities for speaking and improving your reputation.
  40. Organize all your receipts and important financial papers so that you can go paperless and get organized.
  41. Simplify your finances by finding ways to make things automatic or simpler.
  42. Watch less TV and read books about saving money or improving your finances and career instead.
  43. Cut your cable/phone/internet bills for savings. You can save over $100 a month on your cell phone bill or cable bill.
  44. Travel by bike or walking more to save money. This financial resolution can overlap with physical resolutions to get into shape!
  45. Learn to cook to save money by eating at home. This is another resolution that can be financial and also help you get into shape!
  46. Clean out the closets and sell unused items for extra income. Decluttering your house and earning money is a great two for one resolution.
  47. Read more educational books about personal finance, employment, and getting out of debt. Reading books that improve your life financially is a great resolution to make.
  48. Plan your future goals that will take more than one year. Sometimes resolutions are the beginning of a longer journey!
  49. Stop being lazy and accomplish more! This resolution is perfect if you feel like you haven’t worked on much in the previous years. It’s definitely one I’ve made before!
  50. Celebrate and be grateful for what you have already. Contentment is the best way to improve your financial life because when you are content with what you have you don’t want to spend money buying new things.

Happy new year! I hope these ideas for financial new years resolutions help you make this year your best year yet!

Mary is the founder of Pennies Not Perfection where she shares her journey to build wealth through online income. She quit her day job in 2021 after she paid off her debt and doubled her 9-5 salary.

Mary's favorite free financial tool is Personal Capital. She uses their free tools to track net worth and work toward to financial freedom.

Her favorite investment platform is M1 Finance, where she built a custom portfolio for free with no fees. She shares her portfolio growth and savings progress every month on YouTube.