Financial resolutions for 2025

[NoEffingWay]

I resolve to:

1. not get into credit card debt-I paid every penny off in 2024 but struggle to pay for things outright even when I can because I hate to see my bank balance lowering. I know this is stupid!
2. Buy birthday presents jn advance when I see good deals so I'm not overpaying out of a lack of choice
3. Save 10% of my salary on payday
4. only buy clothes and shoes when I need them
5. spend less than I earn as a habit, my wages are not a target spend!

I am determined to have a good chunk of savings by this time next year!
I'm due to pay if a huge loan at the end of this month and then funnel all that payment into savings and credits cards (interest free for the most part!), then snowballing (? Avalanching?) the payments for those into savings too until I have a really good chunk of savings!

The "wages is not a target" resonates!

Also going to work on low spend/ no spend weeks into months. Instead if amazoning stuff in the moment, making a note and then seeing if I really need it and if I do, then buy. But removing the impulse purchases.

I don’t have any debt but no savings at the moment either so I plan on:

Meal planning to stop overspending and overeating! If I have a plan and a list I won’t wonder around the shop aimlessly putting food in the basket but not having anything to actually eat and won’t have four bags of pasta at home.

I will be taking out a set amount of cash each week and having a set amount for food, fuel and other. Other means lunches out, wax/hairdresser appointments, nights out etc (basically my pocket money).

No new clothes or toiletries as I have more than enough!

@GetyourheadoutoftheovenIris I'm joining you on the toiletries but also need to add make up and skincare in there too!

over save on payday

stick to having categorised pots for all annual, periodic & monthly

have 21 days in January of no spending, this helps with nonsensical impulse spending

pay off credit card each month, by placing money from account into credit card pot ready to pay

Mine is premium bond based. I want to have £50,000 in our account and £4,000 in my daughter’s. Saving money is a new concept to me because I had spent all my adult life spending money like it was going out of fashion.
I do have £440 on the credit card but will be able to clear that next week.

Hi there, have you managed this? I’m curious…