Financial Goals for the New Year: Your Complete 2025 Money Guide
The new year is here, and with it comes a fresh opportunity to reset your relationship with money. Financial goals are some of the most popular New Year’s resolutions for a good reason—money touches virtually every part of your life. It affects your sense of self-worth, your relationships, and your ability to live the life you dream of—or even just to live a life free from constant stress and worry.
Who wouldn’t want their financial life to feel easier and more secure?
At the same time, financial goals can be challenging to set, especially if you’re feeling overwhelmed or unsure of where to start. You might end up setting vague intentions without a clear plan to follow through, leaving you stuck in the same patterns year after year.
Thinking about money often stirs up emotions like shame or guilt, making it harder to take action—but addressing these emotions is key to moving forward.
If that sounds like you, don’t worry—you’re not alone. Change doesn’t happen by beating yourself up over the past; it happens when you approach your goals with self-compassion and intention.
This year, let’s leave the all-or-nothing mindset behind and focus on realistic, meaningful steps that create lasting change. Whether your goal is to tackle debt, build savings, or finally feel confident about your finances, small, consistent actions can transform your financial life—and your future.
Keep reading for ideas on financial goals you can set for the new year, along with practical tips to help you get started!
Beginner Financial Goals: Start Building a Strong Foundation
1. Start building the habit of saving
Many people don’t start saving because they don’t think they have enough to save. It’s understandable since finding money to save can be a challenge. However, it’s important to start anyway with any small amount you can.
Whether you’re saving for retirement, a goal, or just for flexibility, the key is to develop the habit. Start small and automate your savings right after payday so you never have to think about it. Over time, you can increase the amount as your financial situation improves.
Make it happen:
Open a high yield savings account
Set up an automatic transfer of any amount you can manage
Schedule the transfer to happen right after you are paid to ensure you have the money and that you don’t forget
2. Figure out where your money goes
Knowing how much money you have coming in, how much goes out, and generally where it all goes is key to building a strong financial foundation. When you have this information, you’re able to make better decisions about where you want your money to go.
You can use any tool, app, or system you’d like to track your money in and out. My favorite is a simple spreadsheet where I track a few key categories and see how things compare month to month.
Sign up below to get a copy of the money tracking spreadsheet:
Make it happen:
Choose a system for tracking your money. You can use apps that pull everything together, review bank and credit card statements (that sometimes categorize things for you), or add things up on your own and record them in a spreadsheet, journal, or on paper.
Set aside time each week or month to make it happen.
3. Create a spending plan (think budget, but better)
Traditional budgets can feel restrictive, but a spending plan is all about giving your money a purpose that reflects your priorities and goals. Instead of setting arbitrary limits, it’s about simply being in control of where you want your money to go. It’s a tool to help you stay on track while leaving room for flexibility and joy.
A spending plan can be as simple or as detailed as you want to make it. Some people thrive on planning out every dollar and tracking every penny. Others follow a more general method of reserving money for savings, reserving money for basic bills and living expenses, and then spending the rest in any way they’d like.
Make it happen:
No matter what tool or budgeting method you prefer, the key components are to:
Choose a system that works for you
Identify your priorities (including how much you want to save, reserve for basic living expenses, and key spending areas)
Set aside money for your priorities so you know you have enough for them
Spend the rest on whatever you’d like, whether you plan that out in advance or not
4. Build an emergency fund
An emergency fund is your financial safety net, giving you peace of mind when life throws unexpected challenges your way. Your emergency fund is designed to protect your ability to live your life when something threatens your financial security.
Make it happen:
Start with a small goal, like $500 or $1,000, and work toward saving three to six months of essential expenses over time.
Learn more:
5. Make a plan to pay off your debt
Getting out of debt is a common financial goal, but it is sometimes such a big goal that it is not achievable. Instead of thinking that you’re going to pay off all of your debt within the next year, commit to creating a strategic and sustainable plan for paying it off.
Thinking of it this way makes it more achievable. You’re more likely to stay on track when you know you have a plan and you’re doing exactly what you need to.
Make it happen:
List your debts, including amount outstanding, interest rate, and monthly payment.
Prioritize your debts. You can list them in order of:
Highest to lowest interest rate
Lowest to highest balance
How much they bother you
Pay the minimum on all debts and put as much extra as you can toward whichever debt you listed first.
Once debt #1 is gone, take that amount and apply it to debt #2.
Continue until all debts are paid off.
Learn more:
6. Start contributing to a retirement account
Saving for retirement can seem overwhelming, complicated, and not terribly urgent. It’s easy to put it off for later. But don’t let that stop you from getting started.
Get my free guide to retirement savings for beginners, where I break down the steps you need to take to get started.
Make it happen:
Research available options (401(k), IRA, etc.)
Take full advantage of employer matching if available
Set up automatic transfers into the accounts
Make sure the money gets invested (ask for help if needed)
Intermediate Goals: Gain Confidence and Build Momentum
1. Save for specific goals and future expenses
Once you’ve paid off your debt, have an emergency fund, and are saving at least some money for retirement, the next step is to save money for specific goals. This could include money for vacations, a new home, or even things that you know you’ll need in the future, like new tires for your car or summer camps for your kids.
Make it happen:
Determine your savings goal, including what you’re saving for, how much you need, and when you need it.
Calculate how much you need to save each month so that you’ll have enough when the time comes. (If you’re not sure how much or when you need the money, do your best to guess.)
Open a savings account or sub-account for each goal
Set up an automatic transfer of that amount into your savings account each month right after you are paid.
2. Align your money with your values, goals, and priorities
One of the best ways to increase your sense of happiness and fulfillment in life is to intentionally focus your money, time, and energy on the things that you care about the most, while letting go of all the less meaningful things.
This means cutting back on certain expenses, so that you have MORE money to save for or spend on the things that are most important to you.
Make it happen:
Figure out what your priorities, values, and life goals are
Take a look at your past bank and credit card statements. Use different colors of highlighters to categorize expenses as:
Things you need in order to keep your life going (basic living expenses like housing, food, transportation, and utilities)
Things that make your life better and more meaningful—that make you feel good beyond the moment of purchase.
Things that didn’t have much of an impact on making your life better. Maybe you enjoyed them in the moment, but they didn’t have a lasting impact or contribute to you living the life you truly want.
Evaluate your list and see if there are ways you can reduce #3 so you have more for #2.
Learn more:
Get my free Identify Your Values activity
3. Improve your financial self-care routine
Regularly check in with your finances. Set a weekly or monthly “money date” to review your spending, savings, and progress toward your goals. Pair it with something enjoyable, like a favorite snack or playlist.
Make it happen:
Choose a regular time, free of distractions
Review last week/month to make sure bills were paid and to see if anything unusual happened.
Review upcoming expenses/bills and make sure you have a plan to cover them.
Think about your long-term vision and goals and decide if you want to make any adjustments to your finances.
4. Learn more about money
Pick one area to deepen your financial knowledge, like understanding your credit score, learning how to invest, or exploring insurance options. The more informed you are, the more confident you’ll feel about your decisions.
Make it happen:
Choose one financial topic to master each quarter
Read personal finance books and blogs
Listen to money-focused podcasts
Take online financial courses
5. Address emotional spending habits
If you spend to cope with stress, boredom, or insecurity, take time to understand your triggers. Work on building healthier coping mechanisms and give yourself grace as you shift these patterns.
Make it happen:
Keep a spending diary for a few weeks to build awareness of your triggers
Make a list of alternative things you could do to feel better that don’t involve shopping or spending money
Institute a 72-hour waiting period before you buy something that you want
Learn more:
Sign up to learn more and get on the waiting list for my upcoming program on How to Stop Overspending.
6. Get on the same page as your partner
Money is a top source of stress for couples, and getting on the same page can be good for your entire relationship. It’s important that both partners are involved in managing the money and making financial decisions. Even if one partner takes care of the logistics, both partners should know what’s happening and be involved in decision-making.
Make it happen:
Schedule a regular money date at a relaxed time without distractions (don’t leave money conversations to times when emotions are high)
Create a vision for your life together and identify goals that are based on what you value and desire as a couple
Once you know what you want from life, work backward to create a plan to make it happen
Get help from a financial therapist, a financial coach, or a marriage therapist
Learn More
Advanced Goals: Transform Your Financial Future
1. Build up your savings (and not just for emergencies)
While emergency funds are essential, having additional savings that aren’t tied to a specific purpose can be life-changing. This financial cushion provides freedom and flexibility, allowing you to seize opportunities, make purchases when they make sense, or navigate major life changes—like leaving a toxic job or starting a business. Plus, it can significantly reduce stress, giving you peace of mind.
Make it happen:
Save extra money beyond what you already have in your emergency fund or accounts for specific goals. You could:
Leave extra money in your checking account as a buffer
Create another savings account that is just for things you might want in the future
Have a larger emergency fund
*You don’t want to have TOO much money in savings. Once you have enough for your shorter-term needs, move on to:
2. Invest and Build Wealth
Investing is an important part of having enough for retirement, creating true financial freedom, and having money to pass on your your children, charity, or other beneficiaries.
Many people are afraid to invest because it seems risky. It’s true that there are risks involved, which is why it is so important to learn how to manage the risks and have a solid investing strategy.
Remember, there are risks of NOT investing too. You risk not having enough in retirement and old age, and your money will actually lose value and purchasing power over time due to inflation.
(By the way, you should already be investing in your retirement account.)
Make it happen:
Educate yourself about investing with a class, books, or podcasts (make sure you have a reputable source)
Work with a Certified Financial Planner who is a fiduciary (in other words, they don’t sell you products that earn them a commission and they are required to make recommendations that are in YOUR best interest).
3. Create your estate plan
Estate planning is not just for older wealthy people. Parents of young children need a will and a plan for what would happen if one or both parents passed away.
Everyone needs to have a will (and maybe a trust), a power of attorney who can make decisions or manage money if you aren’t able to, and a healthcare directive and power of attorney who can make healthcare decisions for you.
Make it happen:
Work with an estate planning attorney to set up a plan that works for you.
Learn more:
5 Estate Planning Essentials Everyone Needs
4. Plan for education costs
While there may be other ways to fund a college education, many parents want to save money to give their children more choices and flexibility. This can be done in a variety of ways depending on your goals and resources.
But before you start saving for college, it’s important to remember that this should NOT take priority over your own retirement. It’s fine to save for both, but your children will someday thank you for taking care of yourself so that they don’t have to take care of you.
Make it happen:
Research options for college savings accounts (or other ways to save money for your kids)
Start funding the account. Remember, grandparents and others can contribute to college savings as well.
Learn more:
Achieving Your Financial Goals
Remember, you don’t need to tackle all of these goals at once. Pick one or two that feel most important or achievable for where you are right now, and focus on making consistent progress.
The key to lasting change isn’t perfection—it’s small, steady steps that build momentum over time. As you move through the year, check in with yourself regularly. Celebrate your wins, no matter how small, and adjust your goals as your life evolves.
Your financial journey is just that—a journey. Every action you take, no matter how small, brings you closer to a life of greater confidence, freedom, and security. You’ve got this, one step at a time.