Finance Resolutions for Older Adults in 2025

As we step into 2025, it’s the perfect time to reassess our financial habits and set goals for a prosperous new year.

 For older adults, managing finances well can provide peace of mind and ensure you’re on track for the years ahead.

Here are a few practical resolutions to consider for a financially successful year:

Gain Or Improve Your Financial Literacy

Make this the year you master your finances.

If you haven’t already, make it a goal this year to improve your financial literacy. This could mean attending workshops, reading books, or even seeking advice from a certified financial planner.

By learning about budgeting, investments, and retirement planning, you can take charge of your financial future. Also, make sure to stay informed about common financial scams targeting older adults to better protect yourself and your assets.

Start Tracking Your Expenses and Reduce Unnecessary Costs

New year, new habits.

Tracking your expenses will give you a clear view of your financial health and help you identify areas where you can cut back. Start with free apps or tools like Google Sheets to organize your finances, and commit to updating them regularly.

Look out for unnecessary costs, such as subscriptions you no longer use or hidden recurring fees that add up over time.

Tip:  If you share expenses with family or housemates, create a group chat to log purchases and periodically update your tracking tool.

Explore Technology to Manage Finances

Consider using apps that track your credit score, send reminders for bill payments, or offer budgeting tools.

Many financial institutions also provide online resources to help you keep your accounts organized.

Additionally, organizations like AARP offer tools such as retirement and 401(k) calculators that can help you plan for the future.

Explore their resources here.

Discover Benefits Available to You

Many older adults qualify for government and community programs that can ease financial burdens. Visit BenefitsCheckUp.org, a free, confidential service from the National Council on Aging (NCOA), to discover programs tailored to your needs.

Taking these resolutions into 2025 will set the stage for a financially healthy and confident year. With the right tools, knowledge, and support, you can make 2025 a year of financial success and peace of mind.

-------------------------------------------------------------------------------------------------------------------------------

This article is brought to you by Elder Love USA, a leading nonprofit provider of home care services in Riverside County, CA, San Diego County, CA, San Bernardino County, CA, Orange County, CA, Imperial County, CA, and Phoenix, AZ.

Our mission is to provide compassionate and affordable in-home care for older adults in need.