3 Tips for a Financial Reset in the New Year
As we begin 2025, I know many of us are ready for a fresh start with our finances. If last year felt overwhelming or like things were off track, you’re not alone. But the good news is that the new year gives us a perfect opportunity to reset and refocus.
I just recorded a quick video where I share three simple tips to help you get started on a financial reset. From prioritizing what matters most to making smarter money decisions and creating a spending plan that fits your life, these steps can help you start building momentum right away.
If you have questions or want to dive deeper into your financial goals for this year, I’d love to hear from you. Email me at jamie@cgnadvisors.com or call me at (785) 340-3434.Transcript
Hi, I'm Jamie Bosse, Senior Financial Advisor at CGN Advisors. Today I want to talk about starting fresh with a financial reset in the new year. If you thought last year felt like a financial juggling act, you're not alone. But here's the good news: a new year offers the perfect opportunity to refocus and build better habits in 2025. Let's review three practical tips to help you take charge of your finances this year.
Prioritize Your Financial Goals
Number one, prioritize your financial goals. The first step is to prioritize your goals by sitting down as a family and talking about what matters most. It could be building your emergency fund, paying off debt, increasing savings for retirement, or saving for a vacation or home improvement. Once you've decided what you're focused on, break it down into smaller goals and put a system in place to keep you on track. It's helpful to revisit your goals monthly so that you can celebrate your progress and make sure you're staying on track.
Make Your Money Work Smarter
Number two, make your money work smarter. By that, I mean things like taking advantage of your employer match in your company retirement plan, utilizing the benefits your employer offers like gym memberships, tuition reimbursement, or discounts, saving money on healthcare and childcare expenses by utilizing health savings accounts or flexible spending accounts, or simply automating your saving and investing so you don't have to think about it, it just happens. The key is to start small and get good systems in place so it doesn't create a bunch of extra work for you on an ongoing basis. Tackle one thing you want to improve this month, get it set up to happen automatically, and tackle something else next month.
Learn from Last Year's Budgeting Missteps
Number three, learn from last year's budgeting missteps. Take a look at your spending last year and identify patterns and hiccups. Are some months more expensive than others? If so, how can you prepare for those expensive months this year? What were some things that threw your budget off track? Was it a one-off surprise expense or simply overspending? Use those insights to build a more realistic spending plan for 2025. Also, make sure you're planning for the unexpected. The unexpected is just a part of life. Keep an emergency savings account ready to handle any of life's little surprises as they pop up.
Are you ready to kickstart your financial reset and build momentum for your financial future? If so, let's connect. At CGN Advisors, we help families like yours set a course for success, no matter where you're starting. To schedule a meeting, call our Manhattan, Kansas office at 785-340-3434 or our Rogers, Arkansas office at 479-335-1034.