January is a strange time, when it comes to money.
On one hand, everyone is motivated to make this year their year and suddenly become this perfect version of themselves that never orders takeout, saves every dollar they make and triple their investments.
On the other hand, most of us are coming out of this holiday season on a financial low - we're still financially recovering from Back Friday sales, Christmas gift shopping, holiday travel, hosting etc. So inevitably we just make ourselves feel bad whenever we think about money. And it's our goal to improve your relationship with money and ultimately just make you feel confident, when it comes to managing your finances. So we partnered up with Fifr - Frich's go-to financial wellness platform to achieve just that. Cheers to that! 🥂
So let's just start with a quick pulse check - are people setting new year's goals? Frichies are almost exactly split on whether they believe in goal setting for the new year.
Our recommendation? Avoid thinking of your goals as ways to limit yourself - eating less sugar, spending less time on your phone, drinking less alcohol. Instead try to focus on the things that already make you feel good about yourself and do more of those - spend more quality time with your closest friends, call your parents more often, learn to cook more healthy recipes that you'll love.
When it comes to money, here's where most of you want to improve.
Majority of you (almost a third) want to focus on earning more money. That's a good goal! We're all aware that inflation over the last few years has made life considerably more expensive so it's hard to make meaningful improvements to your financial wellbeing without increasing the amount of money you have. Once you succeed though, make sure you have a plan in mind so you don't let lifestyle creep leave you feeling like you're in the same financial pinch as before.
The next biggest focus points for Friches (27%) were to save up for a big purchase and generally improving your money habits (24%).
Let's end on a positive note & celebrate your 2024 wins!!! 28% of you learned better spending habits, 25% of you got out of debt (woohoo!!!), 24% started investing (amazing! 2024 was a good year to be investing in the general market) and 23% of you got a promotion (congratulations!!).
We can only hope that we had a small part to play in these successes ☺️ And if you feel like you need some help to achieve your financial goals for 2025, we've got a special gift for you. We're gifting you a 2-month free trial from Fifr - a personalized financial wellness platform built to help you achieve your money goals in the next year and beyond!
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