New Year Resolutions for your Bank Account

It’s 2025 and confetti from that New Year’s party is still stuck in your hair, but it’s time to get serious and tackle those financial resolutions you’ve been talking about for years. After surviving frantic holiday expenses, the worst thing you can hear is “Just spend less money.” First Federal Bank of Louisiana’s Nelson Branch Manager and Lender Crystal Geddes is here to give you realistic goals that can make 2025 your most prosperous year yet.

Budget Like a Boss
If you don’t know where your money is going, it’s probably sneaking out to buy a matching set of pajamas for you and your cat. This year, tame that cash flow. “Pick a budgeting method – apps like Mint or You Need a Budget make it easy, or go old-school with spreadsheets. Set categories, assign spending limits, and stick with it,” said Geddes. “No one climbs a mountain in a few steps. It takes time and repetition to be successful.”

Automate Your Finances
Remembering to pay bills, transfer savings, and contribute to retirement accounts every month is a lot to keep top of mind. Enter automation. Set up automatic transfers to your savings account, automate credit card payments, and schedule your utility bills. Not only does this save you time, but it also prevents those “oops, I forgot” fees. “You can go one step further and open a second checking account that’s only for bills,” said Geddes. “It keeps your monthly payments separate from your fun money.”

Crush Debt Like It Owes You Money
Whether it’s credit cards, student loans, or that one time you swore an espresso machine that also heats up leftover pizza was a “great investment,” 2025 is the year to tackle debt. Snowball it, avalanche it—whatever works for you. The key is consistency. Every dollar you throw at debt today is a dollar future you can spend guilt-free. “Some banks have Christmas Club savings accounts or similar ways to save. You automatically deposit a certain amount – as big or as small as you want – each week into your special savings account,” said Geddes. “The best part is you cannot touch the account until the end of the year when it’s moved into your checking.”

Negotiate Your Bills Like a Pro
“Lots of people think their monthly bills are set in stone,” said Geddes. Cable companies, internet providers, and even insurance companies often have wiggle room if you ask. Call your provider, express your desire to “explore other options,” and watch the discounts roll in. Better yet, use services like Billshark or Rocket Money to negotiate on your behalf. “The beginning of the year is also a great time to look at your subscription services,” added Geddes. Most people have streaming or subscription bills that go unnoticed for long periods.

Build an Emergency Fund (for When Life Laughs at Your Plans)
Pro tip: Life loves curveballs. Your car breaks down, your phone falls in the toilet, or a raccoon invades your attic. An emergency fund keeps you prepared so that you don’t have to dig too deep into your bank accounts to find cash on hand. Ideally, it’s best to have three to six months of expenses covered but start small. Even $500 or $1,000 stashed away will help a lot. Treat it like a financial hug for your future self.

Try a No-Spend Challenge
“A no-spend challenge is exactly what it sounds like: a set period where you don’t spend money on anything unnecessary,” suggested Geddes. It’s like financial detox for your wallet. Start small – try a weekend or a week – and focus on using what you already have. The money you save will surprise you, and it might even reset your spending habits.

Final Thought: Progress Over Perfection
Here’s the deal. You’re not going to nail every resolution perfectly, and that’s okay. The goal isn’t to become the guru of personal finance overnight. It’s to make steady progress so you can sleep better at night and enjoy life more. So cheers to 2025 – your bank account is already excited!