3 New Year’s financial resolutions that don’t suck

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After a couple of champagnes and a few hours on the dance floor on December 31st the topic of New Year’s resolutions will probably come up. Most people will make the same ones they did last year then forget about them by the end of January. 

But not you. 

You’re going to come up with one or two financial resolutions and once the hangover wears off you’ll set about making them a reality in 2020. Here are a few ideas to get you started

Get debt-free

Kiwi households have over $571 billion in debt – that’s $115,000 ahead. Chances are you probably have a little yourself, but in 2020 you could wipe it out completely. 

Simply decide when you want to pay the debt off by, then divide the total debt amount by the number of paydays you have until that date. Take the amount that comes out the other end then set up an automatic payment of that amount from your everyday account to your debt account on payday. Adjust your budget to make it work and voila – you’re on your way to being debt-free. If you’ve got several loans and credit cards to pay off it might be helpful to roll them all into one easy to manage, low-interest loan. Or if you’re finding your debt difficult to manage, call us and we’ll give you a hand.

Enjoy your money

Money is a means to an end. It enables you to live the life that you want, whether that means travelling the world or staying at home with a hot cup of tea. That’s why we firmly believe in putting 10% of your take home pay aside for splurging. That means new shoes, bottomless brunch, a trolley-full at Kmart or whatever else makes you smile. 

A further 10% goes towards mid-term goals like travel. Put this amount aside every month and when you need to get away you’ll have a chunk of money just waiting to be spent. Make this your New Year’s resolution and you’ll find that you enjoy your money much more.

Buy a home

Buying a home can be difficult but it’s doable for most Kiwis. Just like paying off debt, if you break that larger goal down into smaller more manageable milestones, you could make it happen quicker than you might’ve thought. 


If you dream of buying a home but you’re not sure how Money Empire can help you make it happen just like we did for hundreds of new homeowners in 2019. Get in touch and we’ll help make sure your New Years Resolutions turn into reality.

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