As we step into the new year, it’s the perfect time to reflect on your finances and set a solid foundation for the months ahead. Whether you're looking to save more, invest smarter, or simply gain clarity on your financial health, the end of the year offers a fresh opportunity to reset and make your money work for you in 2025. Here's your financial checklist with some actionable steps to help you take control of your money for 2025 

Set Financial Goals for the Year Ahead 

At the start of the year, take time to set specific financial goals, such as saving for a home, building an emergency fund, or paying down debt. Break these larger goals into smaller, achievable steps. Creating a financial plan with timelines will help you stay on track throughout the year. 

Example Tools: 

• Sorted's Goal-Setting Template: This simple template breaks down your financial goals into actionable steps. 

Set Savings Goals 

Building a solid savings habit is key to achieving long-term financial security. Setting specific, realistic savings goals gives you something tangible to work toward. Whether you’re saving for a home deposit, a holiday, or just for emergencies, break your savings goals into manageable chunks and set up automatic transfers to make saving easier. 

Example Tools: 

• Check out Why money goals are important and how to set them with this guide

Review Your Budget and Spending Habits 

The new year is the perfect time to look at how you spent your money last year. Did you stick to your budget? Where could you have saved more? Tracking your spending and adjusting your budget can have a major impact on your financial health. Try using a budgeting app that helps you categorise your spending, set limits, and track your progress. 

Example Tools: 

• PocketSmith: A New Zealand-based budgeting app that allows you to track your income and expenses, set budgets, and forecast your future financial situation. PocketSmith 
• Banqer: For families and young people, this tool helps with money management and learning about budgeting in a real-world context. Banqer 

Take Control of Your KiwiSaver 

KiwiSaver is an important part of your retirement planning, but many Kiwis don't fully optimise their accounts. The new year is a great time to reassess your KiwiSaver contributions, your fund type, and your overall strategy. Are you in the right fund for your risk tolerance and financial goals? Consider increasing your contributions or switching funds to better align with your retirement needs. 

Kōura’s Guided Choice tool is a great way to get personalised advice on how to optimise your KiwiSaver for your future. This free tool helps you choose the best fund based on your financial situation and goals. 

Example Tools: 

• Kōura Guided Choice: A free tool to assess your KiwiSaver and recommend a personalised strategy. Guided Choice 

Check Your Credit Report and Debt 

Before tackling new financial goals, make sure to review your credit report for any errors and assess any outstanding debts you may have. If you have high-interest debt, like credit card debt, prioritise paying it off first. Creating a strategy to reduce your debt load can make a big difference to your financial stability in the long term. 

Example Tools: 

• Credit Simple: Get a free credit score and access your credit report to identify any issues or errors. Credit Simple 
• Sorted Debt Repayment Calculator: A tool to help you plan how to pay off debt faster, with strategies to tackle high-interest loans first. Sorted Debt Repayment Calculator 

Start Investing (or Reassess Your Investment Strategy) 

If you haven't started investing yet, consider making this the year you take action. Even small amounts invested regularly can grow significantly over time. If you’re already investing, reassess your portfolio to make sure it still aligns with your long-term goals. Consider diversifying your investments or increasing your contributions if possible. 

Example Tools: 

• Kōura Wealth KiwiSaver: A KiwiSaver provider that offers a variety of investment strategies and portfolios tailored to your goals. 
• Hatch: Invest in the world’s biggest brands and funds. Become a shareholder in the US share markets with Hatch. 

Conclusion 

The new year is the perfect time to take control of your finances. Whether it’s budgeting more effectively, reviewing your KiwiSaver, or setting clear investment goals, now is the time to take action. By following this checklist, you’ll start the year with a clear financial roadmap, and by the time 2024 rolls around, you’ll be closer to achieving your financial goals. Make this your year of financial empowerment! 

This version ensures that all examples and links are New Zealand-based, featuring local apps and services that are useful for Kiwis to implement each financial step. The focus is on providing tools and resources that align with your goal of helping readers take charge of their finances with a Kiwi-centric approach.