Are you ready to embrace the new year? While being fresh off the holiday season can be a challenge financially, many consumers use the new year as a fresh start for their finances. There’s no magic to getting your finances back into shape, but there are good habits to steer you in the right direction. Use these tips to help achieve your financial goals in 2025.

Evaluate Your Current Financial Situation

The holidays may have caused your finances to feel chaotic from travel expenses, gifts, and activities with family. Now that they are in the rearview mirror, it’s time to review your recent transactions (or full year, if possible) and any outstanding balances.

Is creating or revising a budget the answer? Can you take better advantage of your debit or credit card rewards? These are questions to consider that could help jumpstart your journey to financial success. Once you have a clearer understanding of your current situation, you’ll have a better grasp of the goals you should set for the upcoming year.

Map Out Your Upcoming Expenses

Are you planning a vacation? Will you be paying for school tuition? Write down all the expenses you’ll be responsible for over the next 12 months along with an estimated time frame for each. This will help you visualize (or adjust) your budget that will include a plan for these expenses. You should focus on saving in advance to be able to cover larger or unexpected costs.

Cinfed's budget calculator can help you set financial targets for your savings goals and how much you could put aside on a weekly or monthly basis.

Follow A Budget

While creating a budget may seem like a daunting task, it’s a great way to track exactly where your money is going each month. You’ll be able to adjust your planned expenses on the fly, potentially opening up more money to save in your emergency fund than initially thought.

Once all your expenses are written down, review which areas you could cut back on or subscriptions you could go without. It may be hard to make compromises initially, but it’ll be well worth it once you reach your goals sooner than planned.

If you’re struggling with your finances, consider meeting with a financial coach for further guidance. At Cinfed, you have access to a financial team ready to help you take control. Schedule an appointment online or by calling your nearest branch today.