7 Financial New Year’s Resolutions to Boost Your Savings

The beginning of a new year offers a fresh start and a good time to commit to new goals. For many of us, those changes relate to money. In fact, 61% of Americans’ New Year’s resolutions were financial in 2024, according to Pew Research¹. If you want to make financial changes this year, consider these seven financial New Year’s resolutions that can help you save more and create a brighter future.

Having an emergency fund in place can help you minimize stress when unexpected expenses arise. If you don’t have an emergency fund available with at least three to six months’ worth of expenses, resolve to start (or continue) building one this year.

A high-yield savings account like Growth Savings can be a great place to build your emergency fund, as the competitive interest rate can help you meet your savings goal faster compared to a traditional savings account.

Whether you’re a recent grad or nearing retirement, it’s always important to save for life after work. Professional advisors recommend contributing between 6% and 10% of monthly income to a tax-advantaged retirement account such as a 401(k) or IRA.

If your employer offers a company match for retirement savings, make sure you’re contributing enough to earn the full match.

Many companies will match 50% or 100% of your contributions up to a certain percentage of your salary. If you’re not getting the full match, you’re leaving free money on the table.

Making monthly debt payments can significantly reduce the money you have available to save for your future and financial goals.

If you have personal debt such as credit cards or a personal loan, it’s a good idea to develop a plan for paying it down as soon as possible. Even if interest rates are dropping, credit card interest rates are typically higher compared to other loans.

For example, in December 2025, after several rate drops initiated by the Federal Reserve, the average credit card interest rate was 19.83%².

By paying down high-interest debt, you can free up more money in your budget to help meet your savings goals this year and into the future.

To simplify your goal of saving money, consider automating the process.

With Growth Savings, for example, you can set recurring deposits to your high-yield savings account on the schedule that works for you, whether that’s weekly, bi-weekly, monthly, and so on.

When you make savings automatic, you no longer must remember to move money into savings. You’ll be saving and earning interest without ever thinking about it.

Take time to evaluate your monthly spending and identify areas where you could cut spending, while being selective about where you want to splurge.

For example, maybe you’re paying for streaming subscriptions you no longer use. If you carve a few expenses out of your monthly spending, you’ll be able to put more money toward achieving your savings goals.

In addition to saving money for your own goals, consider using your funds to make a difference for others and the world around you.

For example, you can commit to making charitable donations to organizations that matter to you. And by choosing a mission-driven bank like Forbright, you’ll make a difference by joining us in our commitment to building a brighter future.

Making a positive difference on your finances is a long-term strategy, so it’s important to build a framework that will allow you to succeed. For example, start small by committing to reachable goals. Track progress and celebrate wins. And make it easier to succeed by developing a workable plan. Consider using Growth Savings to help achieve your financial New Year’s resolutions. Our high yield savings account offers a competitive interest rate with no fees and unlimited transfers, while helping to support a brighter future. Learn more here.

Disclaimer: This article is for general information and education only. It should not be considered financial or tax advice.

¹ _{https://www.pewresearch.org/short-reads/2024/01/29/new-years-resolutions-who-makes-them-and-why/#:~:text=Overall%2C%2079%25%20say%20their%20resolutions,work%20and%20career%20(49%25)}
² _{https://www.bankrate.com/credit-cards/advice/current-interest-rates/}