Financial resolutions are among the most common every new year.
In fact, more than half of people surveyed have said they were making a financial resolution at the end of 2025, according to Vanguard, but fewer than 10% may actually be successful at them. In fact, a lot of people forget about or quit their resolution by this time.
We want you to be in the 10% who are successful, so here are some tips on how to make a good financial resolution and how to meet your goal! Here are a few tips:
Assess first. Before you make a financial resolution, figure out where your are, financially. Do you have more debt than you thought? What are those debts and which has the highest interest rate? Is your savings lower than it should be? Do you have an emergency fund set up and growing? If you know where you are, it’s easier to make a good plan to move forward.
Be SMART. Your resolution should be SMART: Specific, Measurable, Achievable, Relevant and Time-bound. This means, you should attach a number to your goal so it’s specific and not vague. You should be able to keep track of your goal over time, make your goal realistic, and also make sure your goal has meaning or an emotional pull. In addition, set a relatively short timeline.
Automate. If there are ways you can make meeting your goal easier, for example by setting up automatic transfers to a savings or investment account, or setting up automatic bill pay, you should do that. It makes meeting your goal easier!
Reassess often. While automation is good, you want to still reassess your progress toward your goal every few weeks. Check those account balances to see how you’re doing — it may help you stay motivated!
Whether your goal is to save more, spend less or something else, we’re here to help. CommonWealth One has a wide variety of financial resources. You should resolve to take advantage of some of them!
Certified Financial Counselors & Financial Advisors. Did you know that you can set up a meeting with a financial professional at CommonWealth One? They can help you set up a budget, automate your savings, raise your credit score, figure out your next investment moves and so much more. It’s worthwhile to set up a complimentary, confidential appointment!
Online education. COFCU.org has a ton of resources for you, including articles, videos, and access to other financial education resources. There are free seminars and webinars, financial calculators, a long history of these newsletters and more. In addition, you can sign up for our upcoming webinars at COFCU.org/events. (Our upcoming free webinars include topics like sports betting, budgeting, taxes and boosting your credit.)
We want you to be successful with your resolution. Let us help you be in that 10% this year and every year. We look forward to seeing you soon!
