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New Year Resolutions You Could Actually Follow Through in 2024

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January 12, 2024


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It's that time of the year when we trade in our regrets for resolutions. But let's be honest, "Save more money" and "Create a budget" sound about as thrilling as watching paint dry. New Year resolutions are often idealistic and lack an actionable goal. That sounded complicated. Let's break it down. To put it simply, resolutions are difficult to follow for three main reasons. 

Why New Year resolutions fail?

First, no one keeps track of our resolutions except us and, therefore, lacks accountability. For example, you want to start painting this year but usually lose track of it because you've not laid out your hobby on a social platform. 

Second, if we keep them broad and open-ended, we might miss the actual goal. For example, you want to lose weight - but how much each month/week? Which diet and exercise will help you achieve it — all of this needs to be clarified. 

And lastly, they seem so far-fetched or unachievable in the second part of the year that they get missed out or take a back seat altogether. For example, "Save ₹50,000 by this year-end", but how and where to save is the key, which may get tricky. 

New Year resolutions that you can stick to!

'Sticking to a budget' and 'saving more money' - have statistically topped the New Year resolutions list for years. While they're great for your pocket, they're slightly idealistic for your day-to-day routine. 

In this blog, we explore some 'realistic' New Year resolutions that you can take to get better with your money. They're easier to follow, have an actionable plan and are easy to track. So let's get started! 

1. Budget like a rockstar 

Enough with the vague budgeting promises. This year, break it down. Create a budget that's tighter than your favourite skinny jeans. Assign every rupee a purpose – rent, WiFi bills, Rameshwaram breakfast fund, etc. Stick to it by setting up automatic transfers. Your bank account will thank you for the discipline. Here's an easier way to do this

2. Crush credit card debt with a vengeance

Don't let credit card interest hold you hostage. List your debts, from smallest to most significant, and knock out the lowest ones first; that way, you build confidence for the bigger ones. A side hustle always helps if you're looking for extra money to wrap up that credit card debt faster, especially in the first half of the year. 

3. Hustle for that extra dough

Turn your side hustle into a money-printing machine (or at least hope for it to be!) Whether it's freelance writing, illustrating, or selling custom bobbleheads, hurry, as your financial freedom depends on it – because it does. That extra cash can fund your 2024 dreams, not just your weekend binges

4. Invest like a Ninja 

Ditch the vague "invest more" and get specific. Automate your investments – set it and forget it. Be the Zen master of compound interest. Think beyond the usual. If most of your previous New Year resolutions have been - "invest more", let this year be the year of "invest more in _____" and fill it up with ETFs, US Stocks, AI stocks, Mutual Funds and more! Start with as little as ₹1,000. 

5. Go on a shopping spree, but play it smarter!

Remember: Shop like a pro, not an impulse buyer. Embrace the art of comparison apps and promo codes. Make a pact with yourself – no more retail therapy without a game plan, thinking of the right cashback credit card and the right season. Both your wardrobe and wallet will thank you!

6. Subscription detox

Trim the fat from your monthly bills. Cancel those subscriptions you never or hardly use. Do you need three streaming services and a magazine subscription for cat fashion? Audit your monthly subscriptions and cut the dead weight. Here's an easy way to check where you're spending each month. The best part? It's split category-wise to give you a high-level view and merchant-wise to give you a detailed look into your spending. You know what to do! 

In conclusion 

As we bid farewell to another year, the traditional resolutions of "saving more money" and "creating a budget" have become as predictable as last year's leftovers. Most resolutions often crumble due to a lack of accountability, vague objectives, and the daunting spectre of unattainability as the year progresses. In this blog, we've given you a playbook on how to set your New Year resolutions for all things money - from budgeting like a rockstar to ninja-level investing; each resolution is tailored for specific action and is doable. With this, we're hoping for no more wishful thinking in 2024! 

Fi - For all things money, every New Year 

You can go online & open a Federal Bank zero-balance savings account in 3 minutes — via the Fi Money app. No paperwork & no hidden fees! Fi, alongside its licensed partner Federal Bank, showcases the future of secure & simple money management. Fi can help you save, pay, invest, track expenses, and borrow money, all in one place. If you upgrade to other account plans within Fi — you get access to premium features like Jump, US Stocks, Mutual Funds, etc. & up to 4x rewards! In short, Fi's an online money management solution that helps you get smarter with your money.


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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New Year Resolutions You Could Actually Follow Through in 2024


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