5 Money Habits to Quit in the New Year

an open spiral-bound notebook and pen in the right-hand corner of a wooden desk with a laptop computer just above and a cup of coffee with foam shaped like a heart

We always make New Year’s resolutions, and they tend to be things we want to do, like exercise more.  And we all know how that works out.  Two weeks in, you get derailed.  So, give yourself a break and, this year, create a list of resolutions you don’t want to do.

To get you started, we’ve made a list of financial habits you’ll be glad to get rid of in the New Year because it’ll help you achieve financial peace of mind – and who doesn’t want that?  Believe us, with this kind of list, quitting is winning.

Our list might include some money habits you currently have and need to quit.  (Don’t worry, we can help with that.)  We might even list some things you’ve never thought of before, which means you’ll know what to do if it comes up in the future!

1.  Quit Sticking to the Minimum

Paying the minimum amount required on your bills can be a necessary step if you’re working through a hardship or you have an emergency expense arise, but always paying the minimum (and never more than the minimum) keeps you in a downward spiral of debt, especially if it’s on a credit card you continue to use.  If you’re having trouble paying more than the minimum, your Money Coach can help you rearrange your budget to prioritize debt payments.

2.  Quit Putting Off the Future

Usually, New Year’s Eve includes reflecting on the past year and planning for the next one, but jumping several years into the future is equally important.  Whether you’ve got a couple years or a couple decades to go, it’s never too late or too early to start thinking about retirement.  Even saving a couple dollars a month is better than nothing.  The main goal is to get started!

3.  Quit Avoiding a Plan

Many people avoid making a financial plan because they don’t know where to start, or they think it’ll be hard.  Good news!  With a trusty Money Coach to walk you through the process, a budget can become your best friend.  Take it from one of your peers: “[My Money Coach] has changed my view of a budget.  It’s not a painful drudgery, but a key to less stress and a happy life.”  An easy way to get started is by jotting down what you spend and earn this next month, so you get an idea of how you use your money.

4.  Quit Mixing Your Money

Saving money is a common and powerful goal, but going about it the wrong way can hinder your chances of success.  Keeping your savings in your checking account makes it harder to track how much you’ve saved, and the easy access will tempt you to spend it all.  Maintaining separate accounts for your savings goals will ensure that money is available when you need it most.

5.  Quit Walking Alone

The hardest part about reaching goals is trying to reach them alone.  Here at MSA, we’re all about team work: we give you access to financial professionals who focus on reducing your financial stress, so you can overcome challenges and accomplish your objectives.



Write down what you’re going to quit doing in the New Year, put the list somewhere visible and hold yourself accountable.  Next, get connected with a Money Coach who will help you with the heavy lifting so your dreams of financial success can become a reality.  Call 888-724-2326 to get started.