Surprise! How Simple Changes Can Fulfill Your New Year’s Money Goals

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As you make financial goals for 2024, consider the small changes that can help you get there. Find out which small financial changes can offer big results. 

A new year is almost here. According to The Ascent research, 67% of Americans plan to make financial resolutions for 2024. So you’re not alone if you’re considering establishing some financial goals for the new year.

Believe it or not, small changes can make the most impact. Here are some simple changes you can make to fulfill your New Year’s money goals, and how they can impact your personal finances in the new year and beyond.

1. Get budgeting

If you’re aiming to save more money or reduce your spending, budgeting can help. Learning to budget can completely transform how you manage your money. Setting spending limits and monitoring where your cash goes is simple, thanks to the best budgeting apps. Developing critical budgeting skills will make you feel more in control of your money.

2. Cancel unused subscriptions and memberships

Once you get comfortable budgeting, you’ll know how your money is being spent and can decide what purchase decisions you may want to change. Many people pay for subscriptions and memberships they no longer use because they forgot about them, which results in wasted money. By canceling at least one unused subscription or membership, you can free up money that can be used elsewhere. This action is a simple and effective way to make a big change.

3. Put your savings on autopilot

Have a big savings goal for 2024? You can do it. Automating the savings process is a simple strategy that can keep you on track. You can enable automated transfers so money is transferred from your checking account to your savings account as often as you want. This one step eliminates the manual process, saves time, and keeps you from spending your money before it gets saved. Trust me, I follow this strategy, and it’s been a game changer.

4. Add a rewards credit card to your wallet

Perhaps one of your goals is to start getting rewarded when you spend money on everyday purchases. An easy way to start doing this is to add a rewards credit card to your wallet. Many people hope to start earning credit card rewards but never get anywhere because they feel overwhelmed when they see all the available credit cards. But don’t overthink it.

As you compare credit cards, pay attention to the details and top features — the annual fee (if any), how the card earns rewards, and how you can redeem the rewards. Don’t forget to consider your own financial profile too — what credit score is needed to be considered for the card you’re after? The first step in achieving your goal of earning credit card rewards is to get one that earns rewards. Here are some of the best cash back rewards credit cards to consider.

5. Continue learning important finance skills

It’s never too late to improve your finances, and you can always learn more. As you make progress in your journey, continue to absorb new information. Taking the time to learn new money management skills and reading more about financial topics can help you be more successful as you work to reach your goals in the new year.

Don’t give up

It takes hard work and dedication to conquer big goals. But I believe in you. Small changes can make a huge difference, and as you see your financial situation improve and transform, it can help motivate you to keep going when you feel stuck. Don’t give up — you’re doing a fantastic job. For additional tips, check out our free personal finance resources.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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