5 money resolutions for 2019

Now that January is upon us, it’s time to start thinking about all the things we’re going to do better this year.

Danielle Wilde

Danielle Wilde

January 2nd, 2019

Now that January is upon us, it’s time to start thinking about all the things we’re going to do better this year – whether it be drinking less, spending more time with family or going to the gym. After a Christmas that no doubt took its toll on your bank balance, sorting out your finances might be high on the agenda too. Here we look at 5 money resolutions that you can make in 2019 to get you on the right track.

2-week spend freeze

Lots of people start the new year vowing not to go shopping and end up breaking their resolution as soon as the January sales hit. Maintaining a resolution can be easier if you break it down into smaller chunks. Rather than banning all splurging in 2019, why not consider a 2-week spending freeze? Mark out the dates in your calendar now and for 2 weeks, try to spend the bare minimum. If you can manage it, you’ll feel pretty good once it’s done and you can see all the money you’ve saved, and who knows you might want to do it again in February.

Contribute to your retirement fund

With pension auto-enrolment now compulsory in the workplace, most of us have already opted to start saving towards our retirement. However, many people under 25, may have opted out as retirement feels like a long way off. If you haven’t started contributing yet, then why not make it your new year’s resolution to start building your retirement nest egg?

Improve your credit score

Many of us lose track of our finances around the festive period and it can be easy to stop paying attention to your financial health. So, whether you’re looking to get on the property ladder or re-mortgage your home, a good credit score could make a huge difference. It’s really easy to find a free credit report online, have a look at it and consider visiting the government’s free Money Advice Service about what you can do to help improve it.

Sell your old stuff

The new year is the perfect time to clear the cobwebs and have a good sort out. It’s likely that between the unwanted Christmas gifts and things that you accumulated in 2018 that there will be plenty of items you can sell. Listing unwanted items on eBay or Gumtree, for example, can be a great way to make some spare cash in the new year.

Save a salary

If you’re lucky enough to be in a relationship where you are both earning a salary and are looking to save a big chunk of money, then saving one of your salaries might be the way to go. It’s a drastic measure but learning to live off one partner’s wages can set you up and prepare you for an eventuality where one of you might not be working. This approach will take some serious budgeting, so it’s worth seeking professional financial advice before undergoing this life-changing approach.

In conclusion

Whether you’re saving for your first home, your dream wedding or just for a rainy day, using your new year’s resolutions to help you tighten your belt can be a great approach to getting your finances in order and getting you that little bit closer to achieving your financial goals.


The opinions expressed in this blog post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.  It is only intended to provide education about the financial industry.
Danielle Wilde

Written by

Danielle Wilde

January 2nd, 2019

Capital is at risk. Investments are illiquid. No FSCS cover. Tax rules apply. See Risks.

Investments are high risk. Capital is at risk. Underlying investments are highly illiquid. No FSCS protection. Tax rules apply and may be subject to change. See Risks.