There’s something magical about the start of a new year. It’s like a giant reset button – a chance to reflect, set new goals, and feel optimistic about the months ahead. But while resolutions often start strong, they can quickly fizzle out if they’re too big or too boring. So, let’s talk about kick-starting 2025 with simple, achievable habits that aren’t just good for your bank balance, but also for your general wellbeing.

Refresh Your Relationship with Your Money
Finances are often at the top of the “I’ll sort it out this year” list, and for good reason. A clear plan for your money can give you more freedom and less stress, which is a great way to start the year. Begin by giving your budget a glow-up. It doesn’t have to be a restrictive spreadsheet of doom – think of it as a tool that helps you say “yes” to the things that matter most. Take an hour to look at where your money went last year, identify a few areas where you could cut back (daily coffees and takeaways?), and redirect those savings into your goals.

One financial habit that’s always worth reviewing is your mortgage. Whether you’re a new homeowner or have been paying it off for years, it’s worth asking yourself: Can I be smarter about this? Small changes – like switching to fortnightly repayments, making an extra lump sum payment, or locking in a better rate – can shave years off your loan and save you thousands in interest. It’s definitely worth chatting to a mortgage adviser to see what opportunities you might be missing.

Save for Things That Make You Happy
Let’s be honest – saving money is easier when you’re excited about what you’re saving for. Maybe you’ve been dreaming of a European summer, a new car, or building your “financial freedom” fund. Whatever it is, set a goal, figure out how much you need, and break it down into manageable monthly steps. Set up an automatic transfer into a separate savings account, so you’re building towards your dream without having to think about it.

For those with KiwiSaver, now’s the perfect time to give your contributions a once-over too. A small bump in what you contribute today can mean a much bigger nest egg down the track. If you’re not sure whether you’re in the right fund for your goals, the team at Threefold can help you find the perfect fit.

Create a Safety Net for Peace of Mind
If you don’t already have an emergency fund, this is your year to start one. Life throws curveballs – unexpected bills, car repairs, or job changes – and having a financial buffer makes those moments a little less stressful. Start small. Even setting aside $20 or $50 a week will add up faster than you think.

Set Wellbeing Goals That Complement Your Financial Ones
Now, let’s talk about the other side of the equation – your lifestyle. Your financial goals are there to help you live a happier, healthier life, so why not set some personal habits to match?

For example:

• If you’re saving money by eating out less, balance it by learning to cook a few new recipes that make you excited about dinner at home.
• Want to curb impulsive spending? Combine it with a declutter challenge. Clearing out and selling things you no longer need will leave you with a cleaner space and extra cash.
• Thinking about your mental health? Set a goal to spend less time on screens and more time outside. A Sunday walk costs nothing, but the impact on your wellbeing can be priceless.

When your financial and lifestyle goals align, it’s a win-win – more savings in your pocket, less stress, and a bigger focus on what brings you joy.

Take Small Steps, and Don’t Be Too Hard on Yourself
The key to sticking with new habits? Start small and build up. You don’t have to do everything at once. Whether it’s paying a little extra on your mortgage, setting up that savings account, or committing to just one financial or wellbeing goal, progress is progress.

And remember, you’re not alone. At Threefold, we’re here to help you take control of your finances, whether that’s reviewing your mortgage, boosting your KiwiSaver, or just having a plan that works for you. To book a free financial health check, click here.

Make this year the one where you take charge – of your money, your goals, and your mindset. Here’s to a healthier, happier, and more financially confident 2025!

The content of this article should not be taken as financial advice, or a recommendation of any financial product. These insights are based on current economic commentary, market pricing for interest rates, and our personal opinion. Threefold is not liable or responsible for any information, omissions, or errors present.