There’s something magical about the ball dropping at midnight and turning the page to a new year. For an instant, it feels like you’ve got a clean slate, and anything is possible. In some ways that’s true, but as the calendar page turns, your responsibilities, bills and financial challenges remain. Many people make resolutions to improve wealth, and no matter where you are along your financial journey, taking a fresh look at your finances can yield an opportunity to improve. As you begin the new year, make financial wellness a priority. If you do that now, just think, in many new years from now, your future self will thank you.

Here are six tips to help you get focused:

1. Take Stock of Your Current Financial Situation

Before setting goals, take a moment to understand where you stand. Review your income, expenses, debts, and savings. If you’re unsure about where your money is going, consider tracking your spending for a month to get a clear picture. This step is essential for building a financial plan that works for you.

2. Set Clear, Achievable Financial Goals

Much like other resolutions, financial goals need to be Specific, Measurable, Attainable, Relevant and Time-bound. Whether it’s saving for an emergency fund, paying off debt, or contributing to retirement, make sure your goals are well-defined. Break them down into smaller, actionable steps so you can track your progress and celebrate your achievements along the way.

3. Create (or Review) a Spending Plan

Your spending plan is the blueprint for financial wellness. It helps you prioritize needs over wants, manage debt, and ensure you’re setting aside money for your goals. If you don’t already have one, start by categorizing your income and expenses. If you have a plan but haven’t updated it recently, take this time to review and adjust it for 2025.

4. Focus on Building or Strengthening Your Emergency Fund

Unexpected expenses are a part of life—whether it’s a car repair, broken appliance, or a job change. An emergency fund is your safety net, preventing these surprises from derailing your financial progress. If you don’t have one yet, aim to save at least $1,000 with a goal of saving three to six months of living expenses. If you have an emergency fund, check in to ensure it’s fully stocked and ready for any unforeseen situations.

5. Invest in Your Future

While it’s important to address immediate financial needs, don’t forget about the long-term. One of the best things you can do for your future self is start investing in retirement accounts like the TSP, 401(k) or IRA, or other investment vehicles. The earlier you start, the more time your money has to grow. In 2025, make it a point to review your investment strategy and take steps toward securing your financial future.

6. Prep for Tax Season

Tax season can sneak up on you. Take time to prepare early to alleviate stress and save you money. Gather your financial documents such as W2s from employers, Forms 1099 from banks and other organizations, and documentation for credits or deductions along with records supporting side jobs or self-employment. Consider using the free MilTax software and support to get expertise on the complexities of military life.

As the new year begins, it’s easy to feel excited about new opportunities, so don’t let that energy fade away. Use the fresh start of a new year as motivation to take control of your finances. With these tips in mind, you’ll be well on your way to making financial wellness a priority in 2025. Trust us—your future self will thank you.

MilSpouse Money Mission® is a Department of Defense resource that offers FREE personal financial education specifically geared toward military spouses. There is a Money Ready guide for various stages of financial life, a MilLife Milestones section to help you through the big moments in your military journey, a blog, spouse videos, quizzes, calculators and more!