Five Steps to Get Your Financial Wellbeing Sorted in 2025

As the new year begins it’s the ideal time to reflect on your financial aspirations and set some intentions and goals. Financial goals provide a roadmap, guiding you toward stability, growth, and long-term success. Here’s how to set and stick to your financial objectives for the year!

1. Define Clear Goals

Start by identifying what you want to achieve financially. Are you saving for a house, paying off debt, building an emergency fund, or investing for retirement? Be specific and realistic. For example, instead of saying, “I want to save money,” aim for, “I will save $5,000 for an emergency fund by the end of December.”

Don’t overdo it. Choose a maximum of three goals—you want to set yourself up for success, not feel overwhelmed straight out of the gate.

2. Make Goals Measurable

Break down your objectives into manageable steps. To save $5,000, determine how much you need to set aside monthly or weekly. This approach makes your progress measurable and keeps you motivated – every week or month brings you closer to your goal.

It’s worth remembering Benjamin Franklin's famous quote: “If you fail to plan, you are planning to fail!”

3. Prioritise and Plan for Success

Rank your goals by importance and create a budget to align your spending with your priorities. Cutting unnecessary expenses can free up resources - for instance swapping takeaways for wholesome home-cooked meals could add hundreds to your savings over time.

4. Track Your Progress

Regularly monitor your progress to stay on track. Use budgeting apps or spreadsheets to keep an eye on your income, expenses, and savings. Adjust your plan if circumstances change, we all know "life happens" and sometimes you need to reevaluate what is feasible.

There are plenty of great tools out there, with the Budget planner on Sorted.org.nz being a user-friendly option.

5. Celebrate Milestones

Celebrate the small wins to boost motivation, especially when you reach measurable intermediate goals, such as paying off one credit card or hitting your monthly savings target. Celebrations don’t need to cost a lot of money; it could be a special family dinner or treating yourself to a massage.

Setting financial goals is more than a New Year’s resolution; it’s a commitment to building a brighter more sustainable future. With clear objectives, a solid plan, and consistent effort, 2025 can be your most financially successful year yet.

If you need help with your finances in 2025, your Site Safe membership gives you access to your own Ignite Aotearoa account where you can access a huge range of finance and wellbeing resources. Check it out.