New Year's resolutions are a historic fresh start and a
chance to set new goals. Many resolutions center around fitness or eating
better, while others might be financial goals. Setting resolutions around
finance or saving for a big-ticket item are great ways to create positive
habits that can last a lifetime.
One of the most important steps when setting a financial
goal is creating a budget. Make sure you know how much money is coming in and
how much is going out, you might be surprised how fast those daily cups of
coffee add up!
Once you have your budget you can start to analyze and make
changes if necessary. Making small changes and setting attainable goals can
result in big savings that add up and help create lifelong financial awareness.
Here are some simple, yet effective ways to reach your money
goals in 2025:
- Crack down on convenience: In an era
where online shopping, streaming subscriptions, and food delivery services are prevalent,
we normalize paying a premium for these luxuries. Prevent these fees from
building up by limiting them to a couple of special occasions per month. You'll
notice an immediate difference on your credit card once you pare down luxury
subscriptions.
-
Tap into your points: Don't forget to
activate special offers on your credit card that allow you to earn points while
you shop. This is an easy and beneficial way to receive rewards from your
purchases that can be redeemed for a statement credit, gift cards, cash, or as a
deposit in your account. Telhio Credit Union offers multiple personal
and business credit cards that allow you to earn points based on eligible
purchases, as well as credit cards with low intro APRs for balance transfers to
help consolidate high-interest rate debt.
-
Automate your savings: The best type of
resolution is one that feels as effortless as possible. Setting up automatic
transfers to your savings account is just that - simple and effective! If you
have the financial flexibility to free up an amount each month from your paycheck,
you'll see that it quickly adds up over time. Open a savings account
with Telhio today to automate your savings.
-
Make it count: Sticking to a resolution
can be challenging, but remembering the reason why you're doing it in the first
place helps. Are you saving for a new vehicle or home? Trying to develop a
stable emergency fund? Keep these in mind when sticking to the plan becomes
challenging. One of the best ways to do this is with a financial partner. Our
trained experts are available in branches to assist members find the best
solutions to their needs. Find
a branch and schedule an appointment today.
Financial resolutions are among the toughest habits to maintain
because they require long-term discipline and persistence. When you believe in
your ability to stay the course and put in the effort, the satisfaction of
accomplishing your resolution will far outweigh the challenges you faced along
the way. Here's to reaching your money goals in 2025 and beyond!
