New Year, New Money Habits
The new year is the perfect time for a fresh financial start. By adopting simple, manageable habits, you can take control of your finances and set yourself up for success in 2025. A few small changes today can make a big impact by year’s end. Here are some easy ways to reset your money habits and start the year right:
1. Start with a Budget Reset
Review your 2024 spending habits to see where you can cut back or reallocate funds. Creating a realistic monthly budget for 2025 is a great way to stay on track and avoid unnecessary expenses.
2. Track Expenses Regularly
Commit to tracking your spending, whether it’s through a budgeting app or a simple spreadsheet. Knowing where your money goes is the first step to making smarter financial decisions.
3. Review Subscriptions and Automatic Payments
Are you paying for subscriptions or services you don’t use anymore? You’re not alone. According to a Forbes survey, only 25% of respondents have revisited their subscriptions within the past year or simply don’t remember the last time they did. Take reading this as a sign to review your recurring payments and cancel anything unnecessary—it’s a quick way to free up extra cash.
4. Set Up Weekly Financial Check-Ins
Dedicate 15–20 minutes each week to reviewing your finances. Check your account balances, monitor transactions, and adjust your budget as needed. This habit can help you stay proactive and avoid surprises.
5. Use FMB’s Financial Tools to Stay on Track
We offer a suite of online banking tools to help you monitor spending, set savings goals, and automate transfers, making managing your money easier than ever.
6. Start Saving for Year-End Goals Now
Whether it’s holiday shopping, a family vacation, or a special celebration, planning ahead can help you avoid last-minute financial stress. Begin setting aside small amounts now to ease the burden later in the year.
Create a healthier financial future in 2025 by making these small changes. Farmers & Merchants Bank is here to support you every step of the way, with the resources you need to succeed. Visit us at your local branch to learn more about how we can help you achieve your financial goals in 2025.