The end of the year is almost here, which means it’s time to start thinking about your New Year’s resolutions. As we head into the new year, what are some things you hope to accomplish?
Here are 23 financial and non-financial resolutions to consider for 2023.
1. Become more active
Ready to start being more active? Something as small as walking or riding your bike can help put you on the path to a healthier lifestyle. Consider what businesses are near you and determine if you can walk to them instead of driving. Not only will you get some exercise in, but you’ll be saving money on gas too.
2. Have your portfolio reviewed
The new year is often a great time to set up a meeting with a financial advisor to review your portfolio.
A portfolio review can help determine the risk tolerance and quality of your investments, as well as the opportunity to learn of alternatives that better support your objectives.
3. Try new recipes
Are you tired of eating the same meals every week for dinner? Or, maybe you just need to find new recipes to make. A slow cooker is a great way to try new recipes while not spending a ton of time in the kitchen. Here are 75 slow cooker recipes to consider trying.
4. Pay down existing debt
Did you know that paying off debt is a financial resolution for 53% of Americans? While a common resolution for the new year, it’s a good idea to look at your finances and create a plan to reduce your debt. The faster you pay off your debt, the less interest you’ll be paying.
5. Support your local businesses
Supporting local businesses in your community is a great way to help stimulate the community’s economy, promote economic growth, and help keep your local businesses open. Next time you need something from a big-box store, consider if you can get it somewhere local instead. Also, consider supporting family businesses whenever possible.
6. Grow your savings
Another resolution to consider in the new year is to grow your savings. With inflation at record highs and the costs of goods and services increasing, there’s never a better time to put aside some extra cash. Plus, you’ll continue to build onto what you save in your statement savings account with the account’s competitive variable interest rate.
7. Volunteer your time
Maybe you’re considering giving back to your community more in the new year. Volunteering at a local organization or non-profit not only helps those directly affected by your efforts, but also helps strengthen your community and organizations around you.
8. Take enrichment classes
Looking to expand your knowledge or learn something new? Seek out webinars or classes that interest you. Often, webinars are free to attend, and you’ll get a copy of the recording after the session.
9. Make more time for self-care
The past few years have been hard on many people, from the pandemic to inflation, and much more. The new year is an ideal time to focus more on yourself, your mental health, and taking care of you.
10. Spend more time traveling
Maybe traveling is on your list of new year resolutions. Whether you’re looking to relax on the beach or take a hike in the mountains, get the financing you need with a Home Equity Line of Credit. Plus, after your vacation, you can use the remainder of funds to plan other trips, remodel your home, or consolidate debt.
11. Improve your credit score
Are you considering purchasing a home through First Bank Mortgage or buying a new car in 2023? You’ll want to make sure your credit score is where you need it to be. Here are some tips to help you improve your credit score and gain a better understanding of your credit report.
12. Become more organized
Becoming more organized can be a great resolution if you’re interested in increasing your productivity in the new year. Look around your workspace or your home and consider what tools or products can help you become organized. Maybe it’s a calendar to keep track of dates and deadlines, a binder for important paperwork, or a file organizer.
13. Learn a new hobby or skill
Looking for something new and exciting to do? From outdoor hobbies to creative hobbies and everything in between, here are 101 hobbies to explore in the new year.
14. Build your emergency savings
Has your emergency savings taken a hit over the last few years? It’s time to start building it back up. Here is a guide to help you determine a savings strategy that works best for your unique situation and goals.
15. Read more books
Many people often make a resolution to start reading more books, but that can become tricky when you have so many other responsibilities. If you have a resolution to read more, consider starting or joining a book club. This can help keep you accountable and build new friendships.
16. Try meal prepping
Another resolution to consider is meal prepping. Meal prepping can help eliminate the daily task of cooking dinner each night because meals are prepared in advance. This can also save you some extra money when you don’t feel like cooking and want to order take-out instead.
17. Check in with your financial advisor
Are you still on track for retirement? A financial advisor can help you determine that. The new year is a great time to look at where you are with your retirement savings and determine if any changes need to be made.
18. Start a journal
Did you know journaling can provide many benefits? It can help improve your writing and communication skills, reduce anxiety, and strengthen your memory, among many other things. Here are some different ideas to help you get a journal started.
19. Review what expenses are coming out of your bank account
The new year is often a good time to look at what expenses are coming out of your bank account. Are you still paying for subscriptions that you don’t use anymore? Consider cancelling things that are no longer needed or used. Those extra funds will add up quickly. Here are some other ways you can save some extra cash.
20. Make your coffee at home
Another easy new year resolution you can adopt is making your coffee at home. You’ll save time and some extra cash by eliminating your drive to the coffee shop every morning.
21. Start a sinking fund for expenses later in the year
Starting a sinking fund in January is ideal because you’re able to contribute funds throughout the course of the year. This is ideal for the costs that you are anticipating later in the year, like a planned vacation, a new car purchase, or holiday expenses.
22. Spend more time with family and friends
A common resolution, but often difficult to maintain, is spending more time with your family and friends. Consider planning monthly family dinners or gatherings with your friends. When a date, time, and place is secured in advance, it can give enough notice ahead of time for people to attend and make necessary arrangements.
23. Partake in random acts of kindness
Making an effort to perform a random act of kindness can go a long way. Things like rolling up your neighbor’s trash can, letting the person that has two items go in front of you at the grocery store, or simply saying hello to someone can turn their bad day into a good day.
The new year is an ideal time to set new goals, adopt new hobbies, and check in with your financial situation. Whatever your New Year’s resolutions look like in 2023, we hope that you fulfill them! And as always, we are here if you need us.