24 Things to Do for Your Money in 2024 - City Girl Savings (2024)

Another year is here and that means another annual list of things you can do to improve your financial situation! Woop Woop! Yep, I’ve been doing these lists every year since 2017 and I don’t plan on stopping! Here’s the thing: the New Year is the perfect time to get systems, routines and habits in place that help you reach your goals. The energy at the start of the year is at an all-time high for most of us, so capitalizing on it is a must!

On the flip side, that all-time high energy starts to fade by the end of the month. Knowing that, it’s important to do everything in your power to get as much done and as many positive routines in place beforehand, so you can keep up the impactful work! This doesn’t just apply to your finances, but to any area of life you set goals for.

Since our focus today is on improving your money situation, I’m sharing 24 things you can do for your money in 2024 to make sure you’re truly set up for financial success! Doing any variation of these things will make you a wealthier individual come the end of 2024!

24 Things to Do for Your Money in 2024

#1 Make sure you have S.M.A.R.T money goals set

Specific, measurable, achievable, realistic and time-specific. When setting your money goals for 2024, make sure they follow the SMART criteria. This will help make sure your money goals are set up for success. Whether you reach the goal or not, you’ll learn how to tweak the goals to make them achievable for your situation.

#2 Track your net worth

I did a net worth tracking test run and tracked my net worth for one year. The results were amazing. Now, I track my net worth regularly. I recommend everyone do this for their money situation.

#3 Increase your retirement plan contribution

I suggest this every year, because it’s so important. The more you contribute to your retirement plan now, the more you’ll have when it’s time to retire! A 1% contribution increase every year should be the minimum goal.

#4 Invest in a real-deal budget plan

We still have a few more days left in the 20% off sale! Use code 2024 and get a custom budget plan created by me! Start your budget now! If you don’t have a real-deal budget plan, read 5 Reasons Everyone Needs a Budget now.

#5 Read personal finances books

Make it a goal in 2024 to read at least 1 or 2 personal finance books. You’ll be amazed at how your mindset around money starts to shift, just by having more knowledge.

#6 Ask your friends about their money goals

Let’s make 2024 the year where we have more conversations about money. You don’t have to get too personal but ask your friends about their money goals and see where you can help.

#7 Ask your parents about their experiences with money when they were kids

Want to know why you are the way you are with money? Get insight from your parents! Ask them about their experiences with money growing up and see if you can find any correlation between your own money behaviors.

#8 Work with a finance coach or a financial advisor

Take your money up a notch in 2024 by working with a finance coach or advisor. You can request a call with me (a finance coach) or check out the podcast episode with Grace Kilgore – Financial Coach versus Financial Advisor to learn the differences.

#9 Subscribe to the City Girl Savings podcast

I’m proud to share we have over 100 episodes published for the City Girl Savings podcast, and we just went through a rebrand! Subscribe on Apple Podcasts, Spotify and YouTube!

#10 Open a general investment account

Notice how I didn’t say “start investing” – though that would be a great thing to do for your money in 2024! Let’s start by getting your general investment account set up first! Open an account with Betterment, Schwab, Public, or Fidelity – no initial deposit required. Play around in there, until you’re ready to invest!

#11 Look at your credit reports

If you haven’t pulled your credit reports (not your credit score, but actual credit reports), head on over to www.annualcreditreport.com now to pull and review them.

#12 Find a budgeting system that works for you

A budget is the number one tool for financial success. If you haven’t found a budgeting system that works for you, let’s make 2024 the year you do!

#13 Revisit your emergency fund number

Inflation, life events and overall budget changes can adjust the amount you need saved for emergencies. If you haven’t reviewed your emergency fund number in a while, it’s time to revisit it. Start with 1 month worth of expenses, then 3 months and then 6 months.

#14 Journal on 5 fears you have related to money

Fear keeps us paralyzed. While we can’t always get rid of the fear, acknowledging its existence helps make it less intimidating. Journal on your 5 fears related to money and assess how you feel after. Also, check out CGS podcast episode 10Conquering the Fear of Failure and Redefining Success for more insight.

#15 Rollover old retirement plans

Not sure where to start? Let Capitalize help!

#16 Start contributing to an H.S.A.

If you have a HDHP (High Deductible Health Plan) through your job, you may already be enrolled in an H.S.A (Health Savings Account). If not, you can always open your own H.S.A through most financial institutions. I personally have mine with Bank of America.

#17 Join virtual finance communities

Starting with the City Girl Savings Facebook group. You can meet great people, find accountability partners and have a space to share your financial wins and challenges!

#18 Find a financial accountability partner

Once you’ve joined a virtual finance community, try to find a financial accountability partner! This can be a friend, co-worker, partner or online friend! Let them serve as a level of accountability as you work towards your money goals.

#19 Set up a $25/month savings transfer into an account just for your wants

If possible, try to find $25 in your monthly budget to send to an account just for your wants. Let this account grow over time and then splurge on yourself!

#20 Ask your boss for a raise

A new year is the perfect time to ask for a raise. If you don’t get one right away, at least you put the feelers out with your boss that you’re looking for one!

#21 Find additional streams of income

If your full-time job covers everything financially for you, great! However, more income never hurts! Find additional streams of income in 2024 so you can reach your money goals faster. Check out 12 Streams of Income to Consider Having for some ideas.

#22 Switch your savings to a High Yield Savings Account (HYSA)

I’ve earned almost $2500 in interest in 2023 just for having my money sitting in a High Yield Savings Account. If you haven’t made the switch yet, this should be a high-priority for your money in 2024!

#23 Start speaking money mantras daily

Read the article 10 Money Mantras to Spark Financial Motivation and start saying these mantras daily.

#24 Visualize your dream life

It’s time to start thinking about the life you want! Take time regularly to visualize your dream life. Picture yourself having everything you desire. Don’t worry about the “how”, just make sure you have the “what” figured out!

Related: 23 Money Moves to Implement in 2023

Like I mentioned, even doing some of the suggestions in this list can have huge impacts on your finances in a year’s time. Don’t worry about getting everything done, just get the most important things done for your situation.

I’d love to hear which of these things you will be doing for your money in 2024! Drop a comment below to share!

-Raya
The CGS Team
24 Things to Do for Your Money in 2024 - City Girl Savings (2024)

FAQs

How can we save more in 2024? ›

These simple power-ups can take your budgeting and saving habits to the next level.
  1. Pay down high-interest debt. ...
  2. Automate your savings. ...
  3. Max out your employer's 401(k) match. ...
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  5. Delete that automatic billing info. ...
  6. Plan for upcoming expenses. ...
  7. Find a side hustle.

What is the 50 30 20 saving method? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

Which strategy will help you save the most money? ›

The 5 Most Effective Strategies To Save Money For The Future
  • Set Your Goals Early On. Setting a financial goal early on will boost you to stick to your savings plan. ...
  • Understand Your Cash Flows. ...
  • Open a Savings Account. ...
  • Rethink Debit Cards. ...
  • Monitoring Your Spending. ...
  • Revise Your Emergency Fund.

How to be debt free in 2024? ›

Let's dive into five actionable and practical tips to help you chip away at that daunting debt mountain and start your journey toward financial freedom in 2024.
  1. Revise your budget. ...
  2. Discover hidden passive income sources. ...
  3. Use the snowball or avalanche method. ...
  4. Consolidate debt to lower your interest rate. ...
  5. Negotiate your debts.
Feb 15, 2024

How to save up $100,000 in 3 years? ›

  1. The Right Mindset.
  2. Keep Costs Low.
  3. Reduce Your Interest Burden.
  4. Invest in Savvy Products.
  5. Save on Taxes.
  6. Manage Your Risks.
  7. Know the Math.
  8. Maximize Other Employee Benefits.
Dec 14, 2023

What is the 75 25 saving method? ›

The money advice that resonated with Shaq is geared toward savings: “It's not about how much you make, it's about how much you keep,” Shaq says. “Save 75% of your earnings and put it away. Use the other 25% as you please.” After all, more money doesn't necessarily equal more wealth.

What is the 50 15 5 easy trick for saving and spending? ›

50 - Consider allocating no more than 50 percent of take-home pay to essential expenses. 15 - Try to save 15 percent of pretax income (including employer contributions) for retirement. 5 - Save for the unexpected by keeping 5 percent of take-home pay in short-term savings for unplanned expenses.

How much money should I have in my savings account at 30? ›

Fidelity Investments recommends saving 1x your salary by 30. At the end of 2021, the average annual salary was $49,920 for 25 to 34-year-olds and $58,604 for 35 to 44-year-olds. So the average 30-year-old should have $50,000 to $60,000 saved by Fidelity's standards.

How can I save money with low income? ›

SHARE:
  1. Focus on small changes in various budget categories.
  2. Automate your savings into a high-yield savings account.
  3. Earn interest on your checking account.
  4. Use those three-payday months to save more.
  5. Keep a budget.
  6. Shop around for insurance rates.
  7. Refinance your mortgage.
  8. Find a way to save on rent.
Oct 19, 2023

How should a beginner start saving money? ›

5 simple steps to start saving
  1. Set one specific goal. Rather than socking away money into a savings account, set specific goals for your savings. ...
  2. Budget for savings. Just because you decide to save doesn't mean it's going to happen. ...
  3. Make saving automatic. ...
  4. Keep separate accounts. ...
  5. Monitor & watch it grow.

What is a wash sale? ›

A wash sale occurs when you sell or trade securities at a loss and within 30 days before or after the sale you: Buy substantially identical securities, Acquire substantially identical securities in a fully taxable trade, or. Acquire a contract or option to buy substantially identical securities.

How to make money fast? ›

How to make money fast
  1. Become a rideshare driver. ...
  2. 2. Make deliveries. ...
  3. Help others with simple, everyday tasks. ...
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  5. Sell clothes and accessories online. ...
  6. Sell unused gift cards. ...
  7. Earn a bank bonus. ...
  8. Take surveys.

What are two ways that you can put away money to meet your savings goals? ›

You may choose to invest your money, which is a great option for long term goals such as retirement. Or you may choose to put your money in a high-yield savings account, a great way to keep your money accessible and an option you'll prefer when saving for an emergency fund or a down payment on a house.

How to save $10,000 in 5 years? ›

5 simple ways to save $10,000
  1. Reevaluate your utility providers. Once you pick your electricity, phone or internet provider, it's easy to become complacent and not look for better options down the line. ...
  2. Cut back on eating out and takeaway. ...
  3. Reduce your entertainment costs. ...
  4. Set up automatic saving payments. ...
  5. Buy second hand.
Sep 23, 2022

How to cut costs pay down debt and save more money in 2024? ›

  1. Create a balanced budget. Many financial experts advise people to allocate their budgets using the 50-30-20 method. ...
  2. Cut back on big fixed expenses. ...
  3. Spend less on your must-haves ... ...
  4. ... ...
  5. Make a plan to pay down debt. ...
  6. Save for the unexpected — and the expected. ...
  7. Increase your cash flow. ...
  8. Check in on your investments.
Jan 2, 2024

Is it possible to save $100,000 in 5 years? ›

You can save 100k in as little as five years with our helpful guide and tips to save. The common mantra on wealth-building blogs and investor forums is that the first $100,000 is the hardest to save. And well, yes, it is. But it's not impossible, so long as you're willing to crunch the numbers and make some sacrifices.

How can I save $10000 by the end of the year? ›

6 steps to saving $10,000 in a year
  1. Evaluate your income and monthly expenses. Before you can get started, you need to know your baseline. ...
  2. Make a budget. You've got all the information you need. ...
  3. Identify where to cut back. ...
  4. Step up your income. ...
  5. Decide where to put the money. ...
  6. Automate your savings.
Mar 13, 2024

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