Disclaimer: This Inside South Florida segment is sponsored by Discover. All opinions and views are of the advertiser and does not reflect the same of WSFL-TV.
As we kick off 2025, many Americans are focusing on financial well-being, according to a recent survey by Discover Personal Loans. Dan Nickele, Vice President from Discover Personal Loans, shared key findings and practical advice on Inside South Florida to help individuals set and stick to their financial goals.
Survey Findings: What Are Americans Prioritizing?
Discover's survey, which included over 2,000 respondents, revealed that financial goals remain a top priority for many:
- 42% aim to save more money.
- Other popular goals include spending less, earning more, and paying down debt.
- Interestingly, one-third of respondents said they don't set New Year's resolutions at all, often because they had success last year and plan to continue their effective habits.
One inspiring takeaway was that a quarter of respondents set a budget in 2024, stuck to it, and felt a sense of accomplishment. They reported being better prepared to handle unexpected financial challenges in the new year.
Practical Tips for Sticking to Financial Resolutions
Dan Nickele emphasized that setting goals is only the first step—success comes from creating a solid plan and following through. Here are his top tips:
- Create a Budget: Write down a detailed spending plan. Research various budgeting methodologies and choose one that resonates with your lifestyle.
- Identify areas where you can cut costs or increase income.
- Track your spending monthly to celebrate wins and make adjustments.
- Prepare for the Unexpected: Build an emergency fund by saving in a high-yield savings account. This financial cushion can help cover unexpected expenses, such as car repairs or a broken cell phone, without disrupting your budget.
- Celebrate Wins and Adjust as Needed: Regularly review your progress and reward yourself for milestones to stay motivated.
Planning for Financial Resilience in 2025
Unexpected expenses were a top challenge for those who struggled to stick to their budgets last year. Dan advises focusing on financial resilience by proactively saving for emergencies and tailoring a budget to fit your specific needs.
Resources to Get Started
For those seeking guidance, Discover offers a range of tools and resources on its website, discover.com. From calculators to budgeting tips, these tools are designed to help you take control of your finances in 2025.
