100 Dollar bill with New Year's graphics.

2025 Financial New Year's Resolutions


Top 5 Financial New Year’s Resolutions and How to Keep Them

The New Year is the perfect time to take a look at your finances and set new goals for the year ahead. Whether you’re looking to save more, pay off debt, or invest in your future, setting financial resolutions is a great way to create lasting habits. However, sticking to those resolutions can be tough without the right strategy. At Commonwealth Credit Union, we’re here to help you not only set achievable financial goals but also provide the tools and support to keep them.

Here are the top five financial resolutions for 2025, along with tips on how to stay committed and successful throughout the year.

  1. Build an Emergency Fund

An emergency fund is a huge key to financial security. Having enough savings to cover unexpected expenses, such as medical bills, car repairs, or job loss, can prevent you from falling into debt when life throws a curveball. If you don’t already have an emergency fund, 2025 is the perfect time to start.

How to Keep It:

  • Set a Specific Goal: Aim for at least three to six months worth of living expenses. Break this down into smaller, monthly goals to make it feel more manageable.
  • Automate Your Savings: Set up automatic transfers from your checking account to your savings account. Commonwealth Credit Union’s Personal Goal Savings Account is perfect for this, it lets you create specific savings goals (like building your emergency fund) and automatically deposits a set amount each month.
  • Start Small, Stay Consistent: Even saving a small amount regularly will add up over time. Keep the momentum going by celebrating small milestones.
  1. Pay Off Debt

Whether it’s credit card debt, student loans, or a mortgage, reducing or eliminating debt should be a priority for most people. Paying off high-interest debt first can give you more financial freedom and peace of mind.

How to Keep It:

  • Prioritize High-Interest Debt: Focus on paying off the debt with the highest interest rate first, such as credit cards. Once that’s paid off, move to the next highest.
  • Consider Refinancing: At Commonwealth Credit Union, we offer refinancing options for both personal loans and auto loans that can help you secure a lower interest rate and pay off debt faster.
  1. Save More for Retirement

Retirement might seem like a long way off, but the earlier you start saving, the better. Whether you’re just beginning or already contributing to a retirement plan, increasing your retirement savings in 2025 could be a priority.

How to Keep It:

  • Automate Contributions: Set up automatic contributions to your 401(k), IRA, or other retirement accounts. Even a small percentage can make a big difference over time.
  • Take Advantage of Employer Matching: If your employer offers a 401(k) match, aim to contribute enough to get the full match.
  • Review Your Investment Strategy: Make sure your retirement investments are aligned with your long-term goals. Consider speaking with a financial advisor at Commonwealth Credit Union to help you choose the right investment strategy for your retirement.
  1. Create and Stick to a Budget

A realistic budget is one of the best tools for achieving your financial goals. It allows you to track your income, set spending limits, and ensure that you’re saving enough each month.

How to Keep It:

  • Use Technology: Commonwealth Credit Union’s Sprout Personal Finance Manager helps you create a budget, track your spending, and set goals. 
  • Set Realistic Limits: Make sure your budget is achievable. Start with necessary expenses and savings goals, then allocate funds for “fun” spending. Be flexible and adjust when you need to!
  • Review Monthly: Take 10-15 minutes each month to review your budget. If you're overspending in one area, adjust for the next month. 
  1. Increase Your Credit Score

Your credit score affects many aspects of your financial life, including loan approval and interest rates. A higher score can save you money over time, so improving your credit score in 2025 should be a key resolution.

How to Keep It:

  • Pay Bills on Time: Late payments can significantly damage your credit score. Set up automatic bill payments or reminders to ensure you never miss a due date.
  • Reduce Credit Card Balances: Paying down credit card debt will have a significant positive impact on your score.

Achieving your financial New Year’s resolutions is all about setting clear goals, staying disciplined, and leveraging the right tools to support you along the way. At Commonwealth Credit Union, we’re committed to helping you succeed with personalized financial solutions and resources that make it easier to manage your money.

Whether you're building an emergency fund, paying off debt, or saving for retirement, we’re here to help you every step of the way. Take control of your financial future in 2025 by making these resolutions a reality.