The new year is one of the most popular times to start working on your finances. However, simply deciding to “save more money in 2025” isn’t a smart goal. Instead, you need to work on habits that will lead to a bigger bank account.
Keep reading for the 12 best New Year’s resolutions that will help you save money in the new year — and beyond.
If you try to save what’s left every month after your expenses, you’re sacrificing your future for your current self. Instead, pay yourself first. You can do that by creating automatic transfers to a separate savings account.
If you’re tempted to withdraw money from your savings, consider opening a savings account at a different bank. That way, it’ll be easier to forget about your savings and only spend from your regular checking account.
Research shows that about 42% of consumers have a subscription service they’ve forgotten about. Even if you think you know all your subscription services, you’re probably forgetting about one or two. Go through your bank and credit card statements for the past year and mark down all your recurring subscriptions.
Why do it for the past year? Some subscriptions only charge you on an annual basis, so if you retrace the past few months worth of statements, you could miss some pricey services.
If you want to save more money for the future, consider increasing your 401(k) contribution percentage.
The minimum amount you should be saving is enough to earn the company match, if your company offers one. Talk to your HR department and ask them how to increase your contributions; it might take a couple of pay periods to go through. Since 401(k) contributions come out of your paycheck automatically, you don’t have to think about it once you’ve set it up.
One of the best ways to increase your retirement savings is to reinvest your dividends. When you invest in the stock market, you can choose to either keep your dividends or reinvest them. Go through your retirement account and see what it says about your dividends. Don't worry — this is an easy fix.
If your goal is to save money, switching to a high-yield savings account may be the easiest way to do so. Just like it sounds, a high-yield savings account is a savings account that offers better interest rates than a regular savings account. High-yield savings accounts are more common with online banks and credit unions than major national banks.
The best part? High-yield savings accounts don’t come with extra fees, so there’s no downside to switching to a new account.
Even though it’s 2025, some people still think that it’s normal to pay a monthly bank maintenance fee. But nowadays, there are plenty of banks and credit unions that don't have any maintenance fees. Switch to a bank or credit union with no monthly fees.
Paying less interest is an easy way to save money and pay down your debt faster. If interest rates have changed since you first took out a loan, consider refinancing with a new lender.
Even if rates are similar, you may qualify for a lower rate if your credit score has drastically improved since you took out the loan.
If you can’t get a lower rate on your mortgage, you may qualify to remove private mortgage insurance (PMI) from your monthly payment if you have built up 20% equity in your property. You don’t have to refinance to remove PMI, but you will have to pay for an appraisal. This can save you hundreds each year during the term of your mortgage.
If you’re paying down debt, one of the best ways to fast-track that is to transfer your existing balance to a card with 0% APR. These special offers usually last between six and 21 months, depending on the card.
Once you’ve transferred the balance, pay down the amount by the time the no interest offer expires. This will help you avoid paying excess interest.
One of the main reasons that people overspend is because they act on impulse. Instead of buying something when you want it, make yourself wait at least 24 hours. That will give your brain enough time to calm down and decide if you actually want or need the item.
In that time, you might realize that you already have something similar, that you can find it used, or that you don’t actually want it all that much. If you have a serious shopping compulsion, consider extending it to a week-long break.
When was the last time you compared prices on your cell phone bill? What about your internet provider? If you can’t remember, now is the perfect time to start.
First, contact a few different competitors to see what their rates are for new customers. Then, call your current provider and ask to speak to the retention department. Tell them you want to cancel your account if you can’t get a lower rate.
Once the rate decrease has gone through, take the money that you’ll save and automatically transfer it to your savings account.
Also, you should find out if you qualify for a better rate on your car or homeowners insurance.
Just be careful about downgrading your coverage in an effort to save money. If you do that, you might wind up underinsured, which could cost you more in the long run if you need to file a claim.
If you’re buying something online, you could be missing out if you don’t have cash-back browser extensions. Extensions like Rakuten or Capital One Shopping can provide easy cash-back opportunities.
You can redeem cash back automatically or save it for special occasions, like when it’s time to buy Christmas presents. Plus, these extensions often have coupon codes you can use to save even more money.
While the heyday of extreme couponing may be behind us, coupons are still an effective way to save money. You can find online coupons through companies directly or via aggregate sites, like Coupons.com.
You can also download each retailer’s app and see if they have coupons there. And don’t forget to look at the coupons that you get with your receipt; those can offer some hidden deals.
