7 financial resolutions (that you can actually keep!)

As we close out 2025 and step into a fresh year, many of us start thinking about how to get our finances in better shape. But like plenty of other resolutions, our financial goals can soon fall by the wayside as the year goes in. So how do we set goals that actually stick?

Silvia Pothoven, National Manager for Corporate Benefits at Gallagher (who deliver MoneyFit, a financial wellbeing program, to Qudos Bank staff), has some sound tips for creating financial resolutions that you can actually keep for 2026.

(While Silvia is a qualified financial planner, this blog is intended as general information only and is not intended as financial advice.)

‍

1. Plan out your year in money

According to Silvia, the key to sticking with our financial resolutions is something relatively simple: structure. “The same way we set other New Year's resolutions, we need to break our big financial goals down into smaller, achievable steps,” she says. “Whether your goal is saving for a holiday, putting money into your offset account or even starting to salary sacrifice into your super, start small. Get used to the change, then build. It's doing the little bit now that will have a longer term impact.”

She suggests setting milestones and celebrating them along the way. “Long-term goals can feel like they drag on forever – that we’re never going to get there,” she says. “But when you break them down and reward yourself as you hit each step, you stay motivated.”

Silvia also warns against making plans based on money that might arrive. “This time of year, some people are expecting bonuses, but my advice is don't count on it until you've actually received it,” she says. “People make spending decisions too early and if the bonus doesn’t land, they’ve actually gone backwards.”

2. Understand your debt

If you’re looking to tidy up your finances for the new year, Silvia suggests getting a handle on your debt. “With debt, every little bit compounds,” she says. “Every extra dollar you put towards paying off a credit card, personal loan or mortgage reduces your overall debt dramatically over time. The long-term impact is exciting, because the more your debt shrinks, the more income you free up for yourself.”

If you have multiple debts, consider whether consolidating them could make them easier (and cheaper) to manage.

3. Make a plan to cook at home more

Convenience culture can be great – until you check your bank balance. “Take something simple like spaghetti bolognese,” Silva says. “Cooking it at home for four people might cost around $18. Ordering it at a restaurant might set your back $150. The difference is huge.”

In Silvia’s household, with two full-time working parents and two hungry teens, they limit eating out to once a week and create a simple meal plan with rotating meals. “When you don’t plan, you end up blowing your shopping budget,” she says. “Quick, simple meals and a weekly plan makes a massive difference.”

4. Be smarter with your charitable donations

Charitable giving can help others and strengthen communities, but it should fit your budget.

Silvia recommends allocating an charitable annual donation budget and reviewing it regularly. “There are so many worthwhile charities,” she says. “I usually support a couple for a few years, then switch. It’s about balance, what’s meaningful to you and what you can afford.”

She adds that donating smaller, regular amounts each month can often be better for both you and the charity. “It’s easier on your hip pocket to spread it out, and it gives the charity a stable stream of income.”

5. Shop more consciously

If impulse shopping is your Archilles’ heel, you’re not alone – but there are things you can do to help reduce your spending. “One of my best rules is: never buy something the first time you see it,” Silvia says. “Always sleep on it. Often, the urge fades.”

She also recommends rotating your wardrobe as the seasons change. “If you have room, pack up winter clothes in summer and vice versa,” Silvia says. “It can feel like you have a whole new wardrobe when you bring them back out, without buying anything.”

And don’t underestimate op shops, clothes shops or renting outfits for special occasions. “For events especially, sharing outfits or renting is brilliant,” Silvia says. “You get something ‘new’ without the huge cost.”

6. Try ‘low spend’ periods

An allocated ‘low-spend’ week or month – where you only spend money on what you absolutely need – could help reset your spending habits. “This works brilliantly with groceries,” Silvia says. “Pretend you’re moving the following week and try to eat everything you already have. It reduces waste and saves you money.”

You can also commit to not eating out or limiting your discretionary spending as much as possible for that period. “It does work to give you that little savings boost,” Silvia says.

7. Get comfortable saying ‘no’

Finally, Silvia says it’s important to not overextend ourselves if we want to actually reach our financial goals in the new year. Between long lunches, group holidays, kids’ birthday parties and seemingly endless events, things can add up quickly. “We live in a society with serious FOMO – fear of missing out,” Silvia says. “But you’re allowed to say no. Give yourself permission to politely opt out if something doesn’t fit your budget.”