There is a reason Suze Orman is known as a financial expert in the personal finance field, even being referred to by USA Today as a “one-woman financial advice power house.” As 2024 closes out, people are looking ahead on goals for 2025, with many of them setting their sights on money and their finances.
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Early in 2024, Orman was featured on WCPO, where she advocated against making resolutions in the new year and had some helpful insights for getting your money in order starting January 1 in other ways.
Your Biggest Wish for Your Money
“When it comes to your money, what is the biggest wish that you have to see happen with it?” Orman said.
Big picture, lots of us want to save more money, earn more money and create a system of wealth to benefit ourselves, our families and our investments. Orman has experience with all of this, but it didn’t necessarily come from setting resolutions for the new year. She explained that the problem with resolutions is that they are easy to start at the beginning of the year. However, if you miss a deadline, break a commitment or fall behind, you start to beat yourself up, never able to get back on track.
When it comes to something as important as money, this can be life altering. Toss the resolutions out and take a page from Orman’s book, where you physically write down your largest wish for your finances in the coming year. Then, start to chart out the step-by-step process that can get you to that goal. All of it is doable, in Orman’s opinion, from paying down credit card debt to saving up an emergency fund.
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Maximize the Power and Potential of Your Finances
Big goals have humble beginnings and lots of smaller steps along the way. Start to do a check-in on your progress every week. Orman recommended even putting a note in your calendar or setting an alarm on your smartphone to remind you it’s time to review your path to financial success.
“If you really want it and you know why you want it, then it’s kind of easy to stick to it,” Orman said.
Some easy ways to start are living below your means, yet within your needs. This maximizes the full power and potential of your personal finances. For 2025, perhaps you can reduce the number of times you go out to eat or order in, opting instead to have home-cooked meals based on budgeting and meal planning.
Orman suggested trying a few different things to get you toward your goal, then reviewing the progress after several months, when big changes should be noticeable.
“Once you see how easy it is, all of a sudden you get more pleasure out of saving than you do spending,” Orman said. In many ways, it is less of a resolution and more of a revolution — one that you and your money lead together in the upcoming year.
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This article originally appeared on GOBankingRates.com: Suze Orman: What To Do Instead of Setting Financial New Year’s Resolutions
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