Approximately 61% of Americans set money-related goals as part of their New Year’s Resolutions, per Pew Research Center data. But you don’t have to wait until January to start improving your finances. In fact, the best time to do this is right now — your future self will thank you.
Learn More: Suze Orman Says You Need To Do This With Your Money Before the New Year
Find Out: 9 Things You Must Do To Grow Your Wealth in 2025
These are some of the top money tricks and habits you can do right now to start 2025 right.
Make a Savings Goal
Whether it’s for something big like buying a house or something a bit smaller, it never hurts to have savings goals. But you’ll also want to have a clear reason behind saving to keep you motivated.
“It’s hard to save just because you’re supposed to. The reason for saving is to reach goals you’ve set,” said Kyle Enright, president of lending at Achieve. “They could range from being able to handle a seasonal dip in income to retirement or paying for a child’s education — and shorter-term things like buying a new TV or taking a summer trip.”
Read Next: 10 Genius Things Warren Buffett Says To Do With Your Money
Start Building an Emergency Fund
No matter who you are, but especially if your income often fluctuates, you should have a rainy day — or emergency — fund. Financial experts tend to recommend having at least three to six months’ worth of expenses saved.
“We deal with a lot of independent contractors. It still, to this day, absolutely kills me how many of them do not have an emergency fund,” said Matthew Ruley of Dypto Crypto.
“Go to Ally or something similar, stash some money at that decent interest rate, and forget about it until you have no other option but to pull from it,” Ruley continued. “Once you give yourself a safety net, you can do some pretty cool stuff without having to stress about money.”
Include Saving in Your Budget
If you have a personal budget, chances are it includes things like your housing payment, utilities, debts and food. But if you don’t have a separate category for saving, now’s a good time to add one.
“In your budget, includes saving as a line item — which means you need to have a budget,” said Enright. “By doing this, savings becomes a ‘bill’ you pay yourself. Many experts recommend saving 10% or more of every paycheck. Too much? Go with 5%, 2% — whatever you can consistently handle.”
Automate Savings
If you’re comfortable with it, set up automatic transfers from your checking to your savings account, so you consistently save each month.
“One must make saving money a habit. And habits — good or bad — develop over time,” said Robert R. Johnson, Ph.D., CFA, CAIA, professor of finance at Heider College of Business, Creighton University. “Have a specific dollar amount or salary percentage taken out of each paycheck and put in a retirement plan or savings plan.”
If you have a little extra money each month, you can also automate your investments. Just like with savings, have a certain amount taken from your paycheck and put into an investment fund.
Track Your Expenses
Fixed expenses rarely change, but variable ones can and often do. If you haven’t been tracking your expenses, start now to make sure you’re on the right track with spending and saving.
“Track your expenses day by day, add them up and compare to your budgeted amount,” said Enright. “Find out where your money goes and where you can cut back. It will be different for everyone.”
Contribute to Your 401(k)
“Participate in your employer’s retirement savings program if it’s available to you,” said Enright. “If they offer matching, contribute as much as you can. Not doing so is like giving money away.”
Some employers will give you the option to enroll right after starting work, while others have a waiting period. If you’ve passed any waiting period and aren’t currently enrolled in an employer-sponsored plan, get started with yours as soon as possible.
Invest In a Portfolio Growth Tool
Investing in a portfolio growth tool can boost your overall net worth, but doing it sooner is better than waiting.
“Time is the biggest power to building wealth with interest. [If] you are feeling overwhelmed by options or waiting to own a home, do not just stand still. Instead, you can take simple action like a mutual fund, a higher interest savings, etc.” said Gina Knox, CEO and financial coach at Gina Knox Coaching. “We sometimes sit around trying to plan, [but then] we miss valuable time of earning interest and growth in the market.”
Two other examples of a portfolio growth tool would be high-yield savings accounts or index funds. The money in these types of accounts can grow on its own, but if you continually contribute to them, it will grow even faster.
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This article originally appeared on GOBankingRates.com: 7 Money Tricks To Do Now To Start the New Year Right
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