Start the year strong: Set goals, find savings

New year, new start

The new year brings a fresh start. It is a chance to look at your money with clear eyes and choose what you want the year ahead to look like. With a few simple steps, you can reset spending habits, find extra savings, and build confidence with your finances. 

1. Chose a clear goal
2. Smart ways to stretch your money
3. Automate your savings
4. Check in with yourself
5. Pick a new micro goal

Step 1: Choose one clear financial goal 

A single goal gives your money direction. The spend, save, share model offers an easy place to start:

• Spend 70% on your needs
• Save 25% for emergencies, retirement, or future dreams
• Share 5% to support your community

Use this as a guide, not a rule. Choose a goal that feels right for your life. You might focus on paying down a high interest balance, building an emergency fund, or saving for something meaningful. Go after that goal with a singular focus.  

Step 2: 4 smart ways to stretch your spending 

These simple actions can free up extra money fast. Each one cuts monthly costs so you can move more toward your goals. 

Tip 1: Negotiate your costs 

More bills are negotiable than people think. You may be able to negotiate:

• Necessities like your internet and cell phone service
• Interest rates or payment terms on credit cards or consumer loans
• Due dates when cash flow is tight

Reach out, explain your situation, be polite, and ask what is possible. One call or email could unlock savings you did not expect.

Numerica note: If you are a member and struggling with payments, talk with us early. We can walk you through your options.  

Tip 2: Pay a little extra on your loans 

Paying even a small amount above your minimum can shorten the life of a loan. Even small amounts like an extra $50 each month toward the principal can make a big difference over time. Make sure the extra goes to the principal balance, not future payments.

You can also make payments off schedule. Weekly, twice per month, or whenever you get paid. These small steps reduce interest and help you pay your loans off faster.

Numerica note: Members can make principal only payments on many loans depending on the type of loan.  

Tip 3: Shop for insurance or ask for a discount 

Insurance prices vary from carrier to carrier. Review your coverage once a year, especially if:

• Your credit score has improved
• You added safety features to your home or car
• Your lifestyle or income have changed

Changing providers can often help you save money. If you want to stay with your current company, ask about loyalty discounts or other savings.  

Numerica note: If you finance a vehicle with Numerica, we can help you understand your required coverage levels. 

Tip 4: Push back on price increases 

When a company raises a bill, you do not have to accept it right away. Internet service is a common example. Call, share your concern, and ask if they can keep your price the same. Mention competitor pricing if it helps.

They may say no, but many businesses will try to keep good customers.

Numerica note: Add this to your yearly review list. It is a quick way to prevent creeping expenses. 

Step 3: Automate your first win 

Automation makes saving easier. Once you set it up, you stay on track without relying on reminders.

Common options include:

• Setting recurring transfers to your savings account
• Splitting your direct deposit to send part of your paycheck to savings
• Use Numerica’s Round Up to Savings feature to save a little with every debit card purchase 

Step 4: Build a simple check in routine 

A steady routine keeps your finances on track. Try this pattern:

• Monthly: Review your spending and adjust as needed
• Quarterly: Check your progress toward your savings goal
• Year end: Reflect on what worked, reset, and choose your next goal

Consistency matters. Small check-ins add up to real change. If you need help, utilize our Financial Counseling partner GreenPath.  Numerica partners with GreenPath to offer confidential financial counseling to members at no cost to members. They can help you build a routine for your money.  

Step 5: Pick your next micro goal 

Once your first goal is moving, choose a small next step. You might:

• Add to your emergency fund
• Pay a little extra toward a credit card
• Increase your savings transfer by a few dollars
• Start a new DreamUp goal
• Review large bills to find another round of savings

Each step builds confidence and strengthens your financial situation. 

Start your year with a plan

You do not need a complicated strategy to make progress. By choosing one clear goal, trimming a few expenses, and automating what you can, you can make meaningful steps toward living well with your money.

If you want help getting started, explore Numerica’s budgeting tools, savings options, and financial wellness resources. Small changes today can support your dreams tomorrow.