New Year, New Habits, New YOU!

With every New Year, comes renewed optimism. As we bounce back from recharging the batteries during the Christmas break, there is no better time to set new good habits in motion for the coming year.

In order to make room for new habits in 2025, be sure to wring out any bad practices. And, yes, procrastination is on the list, so reading this now instead of later is a great first step in the right direction!

By focusing on habits, you will adopt simple, sustainable behaviours that will put you on the path to achieving bigger and better goals in 202 and beyond. Try these simple tips:

1. Put off procrastination…now.

The hardest part of doing anything, particularly something new is actually getting started, so it’s understandable to feel overwhelmed.

The thing that often holds you back is the mental dialogue that goes on in your mind. My advice - START doing and STOP thinking. The answer to procrastination is often not to think about things, just start some action.

Having a Financial Planner may be a good starting point. It’s important to find one that you feel comfortable with to get the most out of the experience.

By finding the right financial planner, there’s a greater chance of you heading on your way to new financial habits. You may get the most out of your Financial Planner by allowing them to get to know you better and understand your personal circumstances.

2. Have a goal in mind.

Having a specific goal to work towards can help maintain your new habits and give you a challenge to work towards.

Make sure your habit-related goal is SMART: specific, measurable, achievable, realistic and time-based.

For example, ‘start saving more’ is a goal, but it’s hard to know when you’ve achieved it and what ‘more’ looks like. Instead, setting a goal such as “Save $30,000 by 31 December 2025 for a house deposit” is a SMART goal and therefore easier to work towards. It’s specific, measurable, hopefully appealing and realistic, and it’s time-based.

Have absolute clarity on your top 3 financial goals. We may also help you assess your goals and put a plan in place by booking an appointment with us.

3. Find your motivation.

What drives you?

To give yourself the best chance of creating a sustainable habit, ask yourself what motives you first before you even start working on this new activity.

Let’s use the above example on saving money for a house deposit. Your motivation for doing this might be to give your growing family a bigger and better space to live in. Understanding your “why” can keep you motivated when challenges arise. Write it down and revisit it often.

4. Start small.

Big changes start with small steps. Want to save more? Start by cutting out one unnecessary expense per week. Looking to reduce debt? Begin by focusing on the smallest balance to build momentum. Incremental changes are more sustainable and less intimidating.

Want to complete a big project? Doing a little at a time is usually easier than tackling a whole project at once. Starting small and increasing the frequency of the habit will make it far easier to sustain in the long run.

For example, you want to get into a new exercise habit i.e. running regularly, throwing yourself into a rigorous running regime before you’re ready could result in injury and set you back more than it helps you.

5. Stick with it.

Sticking with new habits is not easy. However, if you’ve committed, stick with it. In time - the results will come! Setting smaller goals will keep you on track and make sure you measure your progress for extra motivation.

Set reminders, create routines, and celebrate milestones to stay on track. Use technology to your advantage, like budgeting apps or reminder tools. For business owners, scheduling regular check-ins with your accountant can ensure your goals align with your financial strategy.

Whatever new habits you’d like to create, whether they are financial, health or relationship, there’s no better time to start than the New Year… New Year, new habits, new YOU!

6. Plan Proactively

Tackle the year ahead with proactive financial planning. Whether you’re an individual or a business owner, here are some ideas to implement:

• Organise Your Taxes: Stay ahead of June 2025 by organising your receipts and leveraging available deductions. Business owners can optimise operational costs and explore tax incentives.
• Manage Your Debt: Pay off high-interest debts and avoid falling into traps like credit card interest on unpaid balances.
• Update Your Superannuation: If your superannuation balance exceeds $3 million, be aware of the upcoming 30% tax changes and plan accordingly. For guidance, reach out to your RJS accountant.

7. Leverage Technology

Embrace digital tools to streamline financial management. Apps can help you track spending, automate savings, and even store receipts for tax purposes. Artificial intelligence tools can also assist with tasks like organising schedules, generating insights from spending patterns, or suggesting small ways to optimise your finances—all helpful tools for keeping your financial habits on track.

8. Get Support

Don’t go it alone. Visit our Checklists and Resources page for tools and templates to support your financial goals. Whether it’s budgeting, planning, or tax preparation, we’ve got you covered.

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Start 2025 with a plan for success

Include financial fitness to your New Year's resolution this 2025. Challenge yourself and re-evaluate what’s important to you financially. Whether you’re building better habits as an individual or setting up your business for growth, we’re here to help.

Make your appointment to speak with an RJS  professional for the New Year today.‍

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