The holiday season is a time for giving and celebrating. It’s also a good time to take stock and plan a fresh start for the coming year. And, if better financial health is on your 2025 to-do list, we’ve got some baby steps that will help you achieve those goals. Our 2024 financial advent calendar breaks down the process into one bite-sized financial tip each day leading up to December 25. Follow the tips to pay down debt, set a budget, and build a nest egg. By the time New Year’s Eve rolls around, you’ll be on a path to a financially healthy 2025.
Week 1: Get Organized
Day 1: Set a Financial Goal
Write down one short-term and one long-term goal. For example, save $500 for an emergency fund or pay off a credit card.
Day 2: Review Your Budget
Look at your current budget or create one if you don’t already have one. Identify areas where you can cut back.
Day 3: Track Your Spending
Start recording every penny you spend for a week. An app (like your Maps mobile banking app) or even a simple notebook can help.
Day 4: Check Your Statements
Review your bank and credit card account activity to identify any unwanted subscriptions or charges.
Day 5: Create a Bill Payment Schedule
List your monthly bills and their due dates. Consider setting up automatic payments for consistency.
Day 6: Declutter and Sell Items
Find three things in your home to sell online or donate. Use the cash you earn to kickstart your savings.
Day 7: Check Your Credit Report
Pull your free annual credit report from a reputable source like AnnualCreditReport.com. Ensure there are no errors.
Week 2: Save More
Day 8: Start a Savings Challenge
Put away $1 on day one, $2 on day two, and so on for the next 30 days—or pick a challenge that works for you.
Day 9: Set Up a Savings Account
If you don’t already have one, open a dedicated savings account for your short-term and long-term savings goals. This will help you avoid dipping into those funds.
Day 10: Save on Groceries
Plan meals for the week and shop with a list to avoid impulse buys.
Day 11: Lower Utility Bills
Unplug electronics, lower the thermostat, or switch to energy-efficient bulbs to save on energy costs.
Day 12: Evaluate Your Insurance
Experts recommend assessing your insurance rates at least once a year—especially if you have big life changes like a marriage or move. Check your policy to make sure you’re not paying too much.
Day 13: Plan No-Spend Days
Choose one or two days this week to avoid all unnecessary spending.
Day 14: Set a Savings Goal for the New Year
Decide how much you want to save next year and break it down into monthly targets.
Week 3: Tackle Debt
Day 15: List All Debts
Write down every debt you owe, including balances and interest rates.
Day 16: Choose a Debt Payoff Strategy
Look for a debt repayment strategy that works with your budget and lifestyle. For example, decide between the debt snowball method (smallest to largest balance) or the avalanche method (highest to lowest interest rate).
Day 17: Make a Snowflake Payment
Put any extra money—like cash-back rewards or rebates—toward your smallest debt.
Day 18: Negotiate Bills
Call your service providers to ask about discounts or better plans.
Day 19: Consolidate Debt
If it makes sense, research options to combine debts into one manageable payment with a lower interest rate.
Day 20: Freeze Credit Card Spending
Pause non-essential credit card use until you can pay down your balances.
Day 21: Celebrate Small Wins
If you’ve paid off a debt or saved a milestone amount, reward yourself with something inexpensive but meaningful.
Week 4: Build for the Future
Day 22: Start Learning About Investing
Read a beginner-friendly book or article about investing basics.
Day 23: Get Your Estate in Order
Transfer any extra cash into your emergency fund or start one with as little as $20.
Day 24: Update Beneficiaries and Contact Information
Check the beneficiaries on your bank accounts, retirement accounts, and insurance policies. Make sure your contact information (including address, phone number, and email address) is up to date for all of your accounts.
Day 25: Reflect and Plan
Take time to review your progress and write down three financial habits you want to implement in the new year. Then, check back here in January for some smart saving and spending tips.