How to Stick to Your Financial Resolutions

Sticking to your financial resolutions can feel challenging, but it’s worth the effort. With the new year comes new opportunities to make progress toward your goals. Yet, 94% of people give up on their resolutions by the end of February.

If you’ve ever wished you had started saving or investing sooner, you’re not alone; 43% of investors agree. The good news? It’s never too late to set yourself up for success in retirement, whatever that looks like for you: visiting your grandkids, golfing, supporting your favorite charities, the list goes on.

Be part of the 6% who keep their resolutions. It starts with staying motivated, the right resources, and using those resources. Here’s how to get started.

How to hold yourself accountable

Sticking to your financial resolutions starts with a plan and the right tools to keep you on track. Here’s some tips to help make this the year that you follow through on your goals:

Set clear, actionable goals

Vague resolutions like “save more money” are easy to forget. Instead, set specific, measurable targets such as, “Contribute $500 per month to my IRA” or “Save $5,000 for an emergency fund by December.” Clear goals give you a roadmap and something concrete to work toward.

Track your progress

Monitoring your progress is key to staying motivated. Use budgeting apps or spreadsheets to keep an eye on your savings and spending. Set reminders to contribute regularly, pay off debts, or check your financial accounts – small prompts can help you stay consistent.

Schedule regular check-ins

Take time to review your progress monthly or quarterly. This allows you to see what’s working, celebrate small wins, and adjust if your financial situation changes. Treat these check-ins like important appointments to ensure your goals stay a priority.

Make it simple with technology

Take advantage of tools that simplify your financial routine. Automate contributions to your savings or retirement accounts so you don’t have to think about it. Use apps to create budgets, track spending, and send alerts that keep you accountable.

Take advantage of resources

To make confident financial decisions and maximize your contributions, it’s essential to have access to the right tools and resources. Our collection of courses can help you take your investing to the next level, whether you’re just getting started in self-directed IRAs or want to learn more about fix-and-flip properties.

Everything to know for 2025

As we enter the new year, it’s essential to stay informed about contribution limits and deadlines to make the most of your savings opportunities.

2025 contribution limits

2025 Traditional and Roth IRA contribution limits remain the same, sitting at $7,000 annually plus a $1,000 catch-up if over the age of 50. However, limits for 401(k)s – including the Solo 401(k) and Roth Solo 401(k) – are increasing, including a brand new “super catch-up.” This new super catch-up allows those ages 60-63 to catch up an additional $11,250 each year on top of the regular contribution limit of $23,500.

Other contribution limits for 2025 that are increasing include accounts like the SEP IRA, SIMPLE IRA, and HSA individual and family limits. CESA limits did not change and are still capped at $2,000 each year.

To learn more about 2025 contribution limits, download our 2025 Contribution Limits Guide.

Don’t forget to contribute for 2024 (you may still have time)

Before focusing on your 2025 contributions, take a moment to check your 2024 contributions. While it’s important to plan for 2025, there’s still time to maximize last year’s contributions. The IRS allows you to contribute to IRAs for the 2024 tax year up until the tax filing deadline, generally April 15 of the following year.

This extended window gives you the opportunity to increase your savings while also maximizing potential tax deductions for the previous year. Even small contributions can add up over time, and getting the most out of your 2024 limits is an excellent way to start the new year strong.

Turn resolutions into results

Following through on your financial resolutions can help you take control of your financial future. Small, consistent steps can make a lasting impact on your retirement savings and financial health.

Need help getting started? Talk to an IRA Counselor today to learn more.