Upgrade Your Money Game in 2025

As 2024 wraps up, it's time to think about your money plans for the new year. Experts say it's crucial to check where you stand financially before setting goals. Ashley Lapato from YNAB suggests changing how you think about money. Instead of seeing it as a chore, imagine how it can improve your future. Liz Young Thomas from SoFi adds that forgiving past mistakes can help you move forward. When making financial resolutions, Matt Watson from Origin recommends linking them to bigger life goals. This makes them more motivating. Greg McBride from Bankrate emphasizes the importance of budgeting. With inflation, your pay might not be keeping up with expenses. Setting a monthly budget and tracking spending can help.

Paying down debt should be a priority, especially high-interest debt like credit cards. Matt Schulz from LendingTree suggests using 0% balance transfer cards or asking for lower interest rates. Setting realistic goals is key. Courtney Alev from Credit Karma advises starting small, like saving $20 per paycheck. Don't forget to check your credit score monthly, advises Rikard Bandebo from VantageScore. Automating savings can make a big difference. Increasing 401(k) contributions or setting up direct deposits into savings accounts are examples. Johan Gerber from Mastercard warns about scams. He says to slow down and talk to others before making financial decisions. Finally, Alejandra Rojas from The Money Mindset Hub stresses the importance of financial wellness. This includes addressing financial trauma and talking openly about money.

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