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Top personal finance New Year's resolutions for 2025

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Inflation has been battering Americans' budgets for years, but the New Year provides a good opportunity for a fresh start on handling personal finances.
The article from MSN Money outlines several key personal finance New Year's resolutions for 2025 aimed at improving financial health. It emphasizes the importance of setting up an emergency fund, which should ideally cover three to six months of living expenses, to safeguard against unexpected financial shocks. Another resolution is to tackle debt, particularly high-interest credit card debt, by either consolidating it or using methods like the snowball or avalanche techniques. The article also encourages increasing savings, suggesting automatic transfers to savings accounts and exploring high-yield savings options. Investing for the future is highlighted, with advice on starting or increasing contributions to retirement accounts like 401(k)s or IRAs, and considering diversified investment portfolios. Additionally, it recommends reviewing and possibly increasing insurance coverage, creating or updating a will, and focusing on financial education to make informed decisions. Lastly, the piece advises on budgeting, tracking expenses, and setting specific, measurable financial goals to ensure progress throughout the year.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/personalfinance/top-personal-finance-new-year-s-resolutions-for-2025/ar-AA1wvXEl ]