Take time to review your spending over this year to set yourself up for better financial habits in the year ahead. Start by asking yourself some key questions: Were you able to meet any savings goals? Did your spending habits align with your income, or were there months when things got off track? Also, think ahead: Are there any large expenses next year that you should start planning for now — like vacations, big home repairs, or a car purchase? From there, create a plan for 2025 to cut back in areas where you can and put that money towards your savings goals or paying off any debt. To keep it simple, consider using the 50/30/20 rule, where 50% of your income goes to needs (like rent and utilities), 30% to wants (like entertainment and dining), and 20% to savings or debt repayment. To keep track of your goals, use a free online budgeting tool.