The 6 Most Common Financial New Year’s Resolutions (And How to Actually Stick to Them This Time)

Ah, the New Year. A magical time when we convince ourselves that this will be the year we eat kale, run marathons, and finally learn what “compound interest” means. Financial resolutions are a fan favorite, second only to promises of joining the gym (which is now just a $39/month reminder of your failure).

If you’ve made financial resolutions in the past only to break them faster than a cheap dollar store mug, fear not! Here’s a humorous yet practical guide to the six most common financial resolutions—and how to make sure they don’t flop this time.

1. Save More Money

Translation: Spend less on stuff you don’t need so future-you can retire on a beach instead of in your cousin’s basement.

Why It Fails: That “just one coffee” habit turns into a latte-fueled spending spree faster than you can say “grande caramel macchiato.”

How to Stick to It:

• Automate your savings. Set up an automatic transfer from your checking to your savings account each payday. Out of sight, out of Starbucks.

• Use a budgeting app that shames you (gently). Apps like Mint or YNAB can keep you accountable without making you feel like a total failure.

• Create a fun reward system. For every $500 saved, treat yourself to something under $50. Balance, people!

2. Pay Off Debt

Translation: Stop letting credit card companies charge you the equivalent of a used car every year in interest.

Why It Fails: Paying down debt is like dieting—you see a little progress, then BAM, you “reward” yourself with a shopping spree.

How to Stick to It:

• Use the snowball method (pay off the smallest debt first) or the avalanche method (pay off the highest interest rate first). Both work—pick your flavor of motivation.

• Cut unnecessary subscriptions. Do you really need 12 streaming services? If you’re not watching it, it’s wasting your money.

• Channel your inner accountant. Track every dollar and slap high-interest debt with every spare penny.

3. Create (and Stick to) a Budget

Translation: Stop being shocked when your bank balance is lower than a limbo stick.

Why It Fails: Budgets often look great on paper but fall apart when real life happens—like your cousin’s surprise wedding in Cancun.

How to Stick to It:

• Start with the 50/30/20 rule: 50% for needs, 30% for wants, 20% for savings or debt repayment. Simple, flexible, and effective.

• Use cash envelopes for discretionary spending. Yes, it’s old school, but it works.

• Check your budget weekly. Adjust as needed to account for life’s curveballs (and your cousin’s destination wedding).

4. Build an Emergency Fund

Translation: Create a financial safety net so life’s surprises don’t send you into a spiral of panic and ramen noodles.

Why It Fails: It’s hard to prioritize saving for “maybe” emergencies when there’s an actual sale on those boots you’ve been eyeing.

How to Stick to It:

• Start small. Aim for $500 to begin with, then work toward 3-6 months’ worth of expenses.

• Make it untouchable. Put your emergency fund in a high-yield savings account (and forget the login).

• Name your account something scary like “Job Loss Fund.” Guilt works wonders.

5. Invest for the Future

Translation: Make your money work harder than your Wi-Fi router.

Why It Fails: Investing sounds intimidating. And you’ve heard stories about people losing it all in the stock market. (Thanks, Uncle Larry.)

How to Stick to It:

• Start with your employer’s 401(k), especially if there’s a match. Free money is the best kind of money.

• Invest in low-cost index funds. Simple, proven, and less stressful than trying to pick the next Tesla.

• Commit to learning. Read The Simple Path to Wealth by JL Collins or binge personal finance YouTube channels until you’re confident.

6. Make More Money

Translation: Earn enough to cover both your bills and your avocado toast habit.

Why It Fails: Everyone loves the idea of a side hustle—until they realize it’s actual work.

How to Stick to It:

• Monetize your skills. Are you good at writing, graphic design, or making the perfect sourdough? Sell your talent.

• Negotiate your salary. The easiest way to earn more is often just asking for it. (Be nice about it, though.)

• Keep it manageable. Pick a side gig that fits your life, not one that takes over your evenings, weekends, and sanity.

Final Thoughts

New Year’s resolutions don’t have to be broken promises. With a little planning, a sprinkle of discipline, and a touch of humor, you can achieve your financial goals this year. And if all else fails, at least you’ll have a hilarious blog post to read while drowning your sorrows in budget wine.

Happy New Year—and happy saving, spending, and growing!