New Year’s Resolution Ideas for 2025: Better Wealth
Gentleman. As we approach the end of the year (bloody hell, that was fast), thoughts about New Year’s resolution ideas inevitably come to mind. The tradition of setting goals for yourself or your family (or both) is actually a great way to welcome the new year.
We all have dreams and goals that we, well…dream, of achieving one day, but the reality is that if you don’t have a plan or some logical way to work towards that goal, you’re making it quite unlikely for yourself to achieve it.
Funnily enough, many of you probably do this in your job to help the company at the end of each year – reviewing annual performance and setting plans for the upcoming year. All of this helps the company grow. So why not do it for yourself?
With 2024 coming to a close and 2025 on the horizon, I thought it would be be useful to go over some achievable and worthwhile New Year’s resolution ideas that can improve you as an elite male specimen – this week, we’re talking about your wealth.
Why You Should Plan for Better Wealth
While money can’t buy you happiness, it can give you freedom. Freedom to make your own decisions and live life on your own terms. You cannot doubt the importance of money in this increasingly expensive world.
“While money can’t buy you happiness, it can give you freedom”
As we welcome 2025, having new year’s resolution ideas to plan for better wealth should be well up in your list. Financial stability not only alleviates stress but also helps you to achieve your long-term dreams, whether that’s retirement, travel or simply living more comfortably.
This coming year, make it your mission to take control of your financial future. Let’s take one step forward into making those big dreams a reality.
Goal #1: Get Your Life on Track with a Budget
As you get older, you realize there a lot of things to keep track of, especially where your money is concerned. As another year passes, there are probably even more things which you need to allocate money for.
Having a budget for your finances not only helps you keep track of your income and expenses, but it also allows you to clearly allocate money for your financial goals, be it clearing off debt or investing in something. We’ll talk about those as well in just a minute, but you can see that it all starts with a good budget.
If you’re looking to get started with a simple and easy to follow budget in your life, take a look at our article on “Budgeting Your Money: How to Keep Your Finances in Mint Condition”
Goal #2: Make Debt a thing of the Past
For many, debt is a pretty crippling problem that takes over and ruins their financial life. The weight of financial obligations can feel overwhelming and stifling, affecting both mental health and opportunities for growth.
This year, commit to transforming your financial landscape by creating a realistic plan to tackle outstanding debts – whether it’s credit card balances, student loans, or personal loans.
Make a plan for yourself for 2025 to tackle your debt issue in a step-by-step way:
- Start by assessing your total debt. How much do you owe? How can you minimize any interest rates?
- Create a manageable budget. See how much you can pay off every month while controlling your expenses (and simultaneous investments if possible).
- Identify which expenses you can cut down on.
- Identify how you can make more money to pay off your debt faster.
Don’t worry if you can’t clear it all off in a short period of time. As long as you have a plan and you are consistently following it, you really will make debt a thing of the past.
Goal #3: Set Clear Financial Goals
As with any successful endeavor, having a roadmap is crucial; neglecting your finances can lead to missed opportunities and unnecessary hardships.
By creating a structured financial plan, you can identify areas where you can save, invest wisely, and set achievable goals that reflect your values. Have a clear idea of the things you want to achieve and how you can get there.
There’s no shortage of options here. Sure, you can have something simple like save money aside for the future, but I would encourage you to think bigger. Make some long-term goals that will really help contribute towards your financial freedom.
“You would probably need to create more streams of income. Come up with a solid plan for what you are going to do this year to make yourself closer to achieving it.“
Where do you want to be 5-10 years from now? Are you looking to have $1 million in your account? Maybe more, maybe less. How are you going to get there? You would probably need to create more streams of income. Come up with a solid plan for what you are going to do this year to make yourself closer to achieving it. Bonus points if you can put something measurable every quarter or so to keep you on track.
Some good goals to start out with could be:
- Begin investing in something
- Start your own business (in person or online)
- Create an emergency fund with 3-6 months worth of expenses (won’t make you a millionaire but you definitely need it)
If you’re interested, feel free to check out our “8 Ways to Kickstart Your Wealth”.
Goal #4: Invest Wisely
Now that you’ve thought about your financial goals, if investing is one of them, there is no better time than NOW to begin your investment journey.
Anybody who wants to develop their personal wealth really should put their money to work for them by investing in something. It’s a great way to start the process of developing passive income and will be your salvation one day if you do it right.
To make this resolution achievable, consider setting up a monthly investment plan that suits your budget – it is generally advised to set aside at least 20% of your monthly income towards investments.
Some investment options would be to:
- Invest in the stock market (learn more here)
- Invest in cryptocurrency
- Invest in real estate
Goal #5: Improve Your Financial Literacy
I think we’ve all heard it by now. There are just some things that school does not teach you and unfortunately financial literacy is one of them.
From managing your money and paying taxes to saving and investing, these are all things that life is going to throw at you at some point or another. You either take it as it comes or learn about it to prepare yourself to handle everything with ease.
The wealth of the world’s knowledge is available to you in all shapes and sizes. You just have to take the initiative to study it.
- Good old fashioned books such as Rich Dad Poor Dad
- Online websites such as Investopedia and Nerdwallet
- Training courses
All make for a great start to your financial journey. If you’re clueless on what to do, learn the basics and find an area that interest you.
Goal #6: Make Credit Your Friend
As you set your New Year’s resolutions for 2025, consider incorporating credit into your financial strategy.
Making credit your ally rather than your enemy can open doors to a world of opportunities, from building a solid credit score to gaining access to better lifestyle rewards and perks.
Educate yourself on the ins and outs of credit cards, such as smart usage, timely payments, and the benefits of rewards programs. Done properly, not only can you reap the benefits that they offer, but you’ll likely improve your spending habits and improve your financial literacy at the same time. That’s a lot of birds with one stone.
If you’re interested in dipping your toes into the world of credit cards, check out our article on “How Credit Cards Work: A Beginner’s Guide to Credit Cards”.
The Bottom Line
There you have it. Some simple New Year’s resolution ideas you can adopt to better your finances in 2025.
While they may be simple, staying to committed to these is easier said than done. Everyone starts their new year with goals but majority of people don’t follow through with it. As an alpha male, this isn’t you. Don’t let yourself become one of those people.
Alpha Tip
Take a moment to review your 2024. What are your strengths and weaknesses. Are you perfect with your diet, exercise and sleep?
Find out where you could improve and set a goal for that. Make a clear plan for how often you are going to do it and how you going to do it exactly. Keep a timeframe for you to check back and assess your progress.
Remember, your financial situation is something that can affect many areas of your life, so make sure you do it right. You may have to sacrifice some things in the process, but just keep an eye on the big picture prize. Have reminders around in some way or another. It’ll always be worth it.
Here’s to a good year done and a great year ahead. Wishing all our brothers (and sisters) a happy new year.
Stay Wealthy Gentleman