Instead of 10 Financial Resolutions, Pick One

As the new year begins, so does the pressure to transform everything, starting now. Create a budget. Build emergency savings. Pay off debt. Invest for retirement. Improve your credit. Track every expense. The list goes on. And by February, most of us have abandoned ship entirely.

But what if you took a different approach this year? Pick one financial goal for the new year. Just one. Because real change happens through sustained focus. When you concentrate on a single meaningful goal, you're far more likely to see it through. And maybe that success creates momentum for everything else.
 

How It Works

Have you ever tried to do five things at once? It’s exhausting and overwhelming. Behavioral research consistently finds that focused attention outperforms divided effort. When you choose one priority, you can form the habits that make it automatic. And when you succeed, you'll have the confidence and foundation to tackle what comes next.
 

Finding Your One Goal

The key to choosing your priority goal is to focus on what matters most for your life right now. Here are a few common financial goals. Do any of these resonate?

1. Build Your Emergency Fund
Who It's For: If unexpected expenses send you into panic mode, this may be for you. 
Whether you're living paycheck to paycheck or you've got little to nothing set aside for emergencies, success can look like having $500 in your savings account to start. Building steadily toward the recommended 3-6 months of expenses saved. Check out the blog we dedicated entirely to building an emergency fund on any budget.

2. Tackle Your Debt
Who It's For: You're juggling multiple payments and feeling overwhelmed, or one particular debt is hanging over you. 
Depending on your situation, success could mean eliminating your smallest debt or making significant progress on your highest-interest balance. It could also look like working with a trusted financial expert to create a consolidation plan. The nature of debt varies widely from one situation to another. If you’re mulling over this as your one goal, check out this article dedicated to tools that could help with your debt.

3. Improve Your Credit
Who It’s For: You're planning to buy a home or car in the next year or two, or you know your credit score is holding you back. 
Success could look like raising your score by 50+ points or cleaning up errors on your report. To accomplish either of those and more, the foundation is building smart habits. Are you wondering where to even start? We’ve got an article dedicated to getting your credit-building journey started.

4. Save for What Matters
Who It’s For: Your bills are covered, and you've got some savings, but you're not actively working toward anything specific. 
Success here means having a clear goal, whether that's a vacation, a new car, or a home down payment, and making measurable progress. Depending on the size and timeline of your goal, your approach may vary from opening a dedicated savings account to investing in a certificate or starting a different investment account. If this is your goal for the new year, now’s the time to make an appointment with a financial expert to game plan.

5. Understand Your Money
Who It’s For: You avoid looking at your accounts or budgeting because money feels overwhelming or confusing. 
Depending on which end of the spectrum you’re on, success may look different. If you’re completely disconnected from your finances, success could be checking your account balances each morning and eventually adding a weekly review of your transactions. If you’re ready to try budgeting, it may look like setting up a simple spreadsheet. The good news? You’ve got free tools at your disposal to meet you wherever you are.
 

Making It Stick

Once you've chosen your one financial focus for the new year, set up a system that doesn't require constant attention and set a quarterly calendar appointment to check in. Even still, life comes at you fast. Give yourself permission to modify your approach as needed. The beauty of picking one goal is that you don't have to figure it all out today. We're here to help, whether that's opening the right account, reviewing your options, or simply cheering you on.

What will your one goal be?