We may only be a month into the new year, but it’s not too early (or too late) to check–in on your 2025 financial resolutions. Mitchell Harder, Wealth Member Consultant at WFCU Credit Union and Michael Trklja, Wealth Consultant at Rapport Wealth Services share their top financial resolutions for 2025 and tips on how to stick to them.
1
Build a Monthly Budget
Start the year by revisiting your budget. To develop your ideal budget, assess your average monthly income and fixed and variable expenses to determine your financial priorities for 2025.
With access to our Monthly Budget Builder, learning more about your financial well-being and setting achievable goals is easier than ever.
2
Check-In with Your Financial Goals
Check whether you’re still tracking toward your goals, such as saving and investing for a comfortable retirement. If recent changes in the market or other factors have temporarily thrown you off course, work with one of our Member Wealth Consultants to figure out how you can get back on the right path.
3
Revisit Your Asset Allocation
Asset allocation is essential because it spreads risk across different types of investments, such as stocks, bonds, and cash, which typically react differently to market conditions. This balance can help your portfolio and protect against losses in any one investment type. By diversifying, you’re better positioned to achieve steady returns over time, making asset allocation a core principle to managing risk while working towards your financial goals.
4
Pay Down Your Credit Card Debt
Paying off credit card debt can be challenging, but it’s not impossible. With a solid plan and some dedication, you can pay off your card debt and reach your financial goals faster.
5
Check Your Emergency Fund
Life is unpredictable and an emergency fund acts as a financial safety net. Experts recommend saving three to six months’ worth of living expenses, but starting small is perfectly fine.
Sticking With Your Resolutions
With consistency and effort, you can turn these resolutions into lasting habits. Here are a few tips to help keep you on track:
Set
reminders
Use apps or calendars to prompt you about savings goals.
Celebrate
milestones
Reward yourself for hitting key targets, like paying off a credit card or reaching a savings goal.
Find
accountability
Share your goals with a trusted friend or partner to stay motivated.
Start small, stay consistent, and watch your financial health transform in the new year! Our experts at WFCU Credit Union are here to help turn your resolutions into a reality.
