New Year, New Goals: 3 Financial Habits to Start Now

Get Organized and Take Charge: Build These Financial Habits for Success

As we kick off 2025, it’s time to focus on setting goals and creating habits to set you up for success. Whether you’re a student saving for the future or a parent guiding the way, here are three straightforward financial habits to put into action today:

  1. Make a Plan with a Real Budget
    Financial success starts with a plan. Write down your income and expenses, then categorize them. Use tools like apps or spreadsheets to track your spending daily. A clear budget keeps you organized and in control.
  2. Prioritize Saving Over Spending
    Every dollar has a job. Pay yourself first by setting aside money for savings before spending on anything else. Even $20 a month grows over time. Savings create options, and options mean opportunity.
  3. Set SMART Goals
    Don’t just dream—define. Set Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) goals. Whether it’s saving for college or reducing debt, break it down into actionable steps you can measure progress against.

Why It Works: These habits aren’t just good ideas; they’re proven strategies to help you build financial confidence and long-term stability.

Author:  Christopher Lorence, Executive Director, Labor Community Foundation