2025 New Year’s Finance Resolution Ideas
10 Top tips for 2025
1.) No one likes to hear it but review 2024 spending. You have 12 months of evidence showing you exactly what you spend your money on and it can be so valuable. On most banking apps you can search up transactions with specific companies over the last 12 months and add up your spending. If you want to check how many times you had a sneaky take away and how much that cost you over the year you can work this out pretty easily! Where did all those £’s go?
2.) Check your Direct debits and standing orders! This is one of my friend Jo’s pet peeves, direct debit for the gym membership you started 3 years ago but never went to? or if you are lucky a standing order to a savings account that you forgot about, we wish!
3.) Check your Subscriptions! With all the different streaming channels out there and that favourite show we just had to watch, it’s easy to accumulate a whole bunch of subscriptions that we don’t need, so check and pause till then next season of that hit show comes back on.
4.) Special event coming up or fancy holiday? Work out how much it’s going to cost and put aside some money each month, if it’s that trip of a lifetime to the Masai Mara in Kenya, it may take a little longer than saving for the wedding weekend in coastal Worthing but working out your goals makes it easier to save for them!
5.) Start saving for Christmas in January, I know I know, you just put away all the Christmas decorations and dry January is apparently 100 days long but planning ahead and saving a little each month can take the pressure off in December and maybe make January not seem so long.
6.) Set up a spreadsheet- this is one of my favourite to do’s. When it comes to money I do not like surprises! This is an easy way to keep track of your incomings and outgoings and can help with money decisions…. do I buy a new TV this month so would waiting till June be better financial bet?
7.) Review your pensions - get all your pension information together and go see your friendly neighbourhood financial advisor, they will be able to provide an accurate view of your current pension status and help you make plans for the future. That granny annex at your children’s future mansion is not a guarantee!
8.) Wills - Review your Will and provision for after your death, not a nice thing to consider which is why a lot of people leave it too late but getting your affairs in order gives you piece of mind and ensures that your money goes where you intended and not to that one relative….you know the one!
9.) Knowledge is power! Find a good podcast or book and develop your ideas and thinking around money. Even just a small investment of your time in learning about money can make decisions easier and better suited to you in the long run.
10.) Contact your local AAT licensed Bookkeeper and make 2025 your financial year!
This is an opinion piece and should not be considered financial advice. For tailored guidance and support with your financial decisions, we recommend seeking assistance from a qualified professional.