The new year feels like a fresh start but when it comes to money, many people can feel overwhelmed before they even begin. If you’re new to handling your finances or just want to gain a bit more control, the good news is you don’t have to be an expert to get started. 

Financial success is not about perfection or dramatic changes. It’s about building the foundations of good habits that you can build on over time.  

We’ve put together five realistic financial New Year resolutions for beginner investors. 

Create a simple, realistic budget

Before you can invest confidently, you need to understand where your money is coming from and where it is going. A budget is not about restricting yourself - it's about keeping yourself informed. You only need to create a simple spreadsheet, you don't need to make things complicated.

Once you have an idea of how your finances currently look, consider trying the 50/30/20 rule. 

If you don’t want to jump straight into it, try just tracking your spending for a month or two and see if there are any positive changes that you can make. Taking some time to observe can help you create an actionable plan.

Build an emergency fund 

One mistake that beginner investors can make is believing that all money should be tucked away in investments. However, life can throw you a curve ball at the most random time, and you can find yourself needing access to some extra money. That’s where an emergency fund can come in handy. It helps cover the cost when your car’s battery randomly dies, a roof tile falls off, or your flight gets cancelled, and you’re stuck abroad. 

A good beginner goal is to try to save between 3 to 6 months of expenses. This money should be kept in a high yield savings account that is easy for you to access. You can find information about savings rates on our website (click here). Add this into your budget and try to put away a small amount every month. 

Make a plan to tackle debt 

If you find yourself in debt, it’s important that you have a plan to get out of that debt. Whether it’s small, like a credit card, or large, like a mortgage, it’s important that the level of debt is manageable and that you have a plan to pay it off. 

Try to work out how much of your debt you can afford to pay off each month and make a promise to yourself to commit to those payments.

Start investing – even with small amounts 

Investing doesn’t require large sums of money or expert knowledge. What matters most is getting started early and staying consistent. It’s important to note that you should be thinking about the long term and ideally the money you invest should be left untouched for multiple years. You also need to acknowledge that investments can go down as well as up so you need to be comfortable with the possibility of losing money. You can find more info from Money Saving Expert here.

Build your financial knowledge gradually 

Learning anything takes time and commitment. You don’t need to learn everything all at once. Financial information can feel overwhelming and full of jargon. It’s best to try and focus on learning one concept at a time. Some beginner friendly topics include: 

Some UK based resources for easy to understand explanations include: 

If you want to get a handle on your finances this year, just try to commit to one of these resolutions. After all, that could put you ahead of where you are now. No matter how you decide to take on the challenge, make sure you do things at a comfortable pace, stay informed, and keep consistent. Your journey doesn’t have to be complicated – it just has to begin.