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The year 2025 has come, and after dieting and exercising, Money and debt repayment They are always at the top of Americans' New Year's resolutions list. How do you create an actionable and tactical game plan on January 1st? Here are five great ideas to start the new year!
1. Go to the grocery store… less
Did you know that the average person visits the grocery store more than 10 times a month? according to Oxygen FinanceThis adds a huge chunk of your time. And with each trip taking an average of 43 minutes (source: Time Institute), the hours really add up. And remember this, grocery stores have the same goal as casinos in Las Vegas, which is to separate you from your wallet.
In fact, near me in Atlanta, Georgia, a Publix recently opened with a full bar where you can sip beer and wine. Now, why do you need to do this? The reason is that grocery stores know it's important to make you spend more time in the store, so you'll spend more money.
Here's how you can reduce those trips:
People talk about becoming millionaires, but the path to wealth begins with a few small steps. (Kurt Knutson, CyberGuy)
- Make a list before you go shopping and stick to it. This will save you from wandering around aimlessly or buying things you don't need.
- Avoid feeling hungry, especially during peak shopping hours (4 to 5 p.m.), as cravings may lead you to buy.
- Don't fall into the ultimate marketing trap. Just because it says BOGO (buy one get one free) doesn't mean it's in your best interest to buy one at all.
2. Invest like a millionaire – starting from $100
Investing is no longer limited to just the wealthy. For less than $100, You can diversify your portfolio With assets that were reserved only for the rich:
- art: Platforms like Masterworks allow you to buy shares in fine art pieces, giving you the opportunity to own part of the work of world-famous artists.
- Collectibles: Imagine owning a piece of a classic car, such as a 1965 Ford Mustang Fastback, through Rallye. This innovative platform makes high-value collectibles accessible to everyone.
- Real Estate: Build equity while helping renters do the same with ROOTS, a company that lets you invest in properties with community-focused goals.
These options provide innovative ways to grow your wealth without requiring a huge upfront investment.
One smart move for 2025 is to invest in collectibles in a small way. FILE: This undated photo provided by Heritage Auctions of Dallas shows some of more than 700 well-preserved 1910 baseball cards that were found in the attic of a home in Defiance, Ohio. (AP)
3. Pay off your debts
Debt is a huge financial burden on many Americans, with credit card debt alone approaching $1.2 trillion and the average balance at $6,327. Addressing your debt now will set you up for financial freedom in the long term.
Here are two pro tips before 2025:
- Focus on the highest-interest and smallest-interest credit cards first to reduce the total amount you'll pay over time, then put something in the win column early in the year.
- Don't use gift cards, sell them. If you have unused gift cards, sell them on platforms like CardCash. This will turn unused balances into cold cash that you can pay off your debts.
4. Review your recurring subscriptions
Recurring subscriptions can quietly drain your money. Many people forget about services they no longer use, and the costs to some Subscriptions like YouTube TV It has doubled over the past seven years (now priced at $82.99 per month).
Here's how to take back control:
- Review your year-end credit card statements to identify subscriptions, apps and memberships that you no longer use, want or need.
- For subscriptions you want to keep, explore options where you can share the cost with friends or family. For example, YouTube TV allows up to six members on one subscription.
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Investing is no longer limited to just the wealthy. With as little as $100, you can diversify your investment portfolio with assets that were previously reserved only for the wealthy.
5. Your points programs lose track of inflation
Do you have a stash of airline miles, hotel rewards or credit card points? These points represent real money – but their value depreciates over time due to inflation and higher redemption costs.
Consider this: In the last five years, your points have likely lost 20% of their value. Waiting too long to use them could mean losing the rewards you've earned.
Here's how to make the most of your points:
- Use it for flights, hotel stays, or statements whenever possible.
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People who want to save should look at their subscriptions to see if they can cut off any unused subscriptions. FILE: In an aerial view, the Netflix logo is displayed above the company's offices on Jan. 24, 2024, in Los Angeles, California. (Mario Tama/Getty Images)
- Regularly check the terms and expiration dates of your rewards programs.
- Treat your points like cash, and spend them wisely before they lose any more value
It's not a decision, it's a game plan
Whether it's cutting back on unnecessary shopping trips or finding creative ways to invest, these simple changes can have a big impact on your finances. Start small by reviewing your shopping or subscription habits, then move on to investing and tackling debt. Every step you take will bring you closer to becoming a millionaire.
