Financial resolutions for the new year? Our Top 3

The new year is approaching, and that usually means New Year’s resolutions! What often gets overlooked, however, are financial resolutions—despite these being the foundation for your mental well-being and the key to achieving your other goals. Whether you want to save more, better plan for retirement, or finally start investing, a solid plan makes your resolutions attainable. In this blog, we discuss three essential topics to inspire possible financial resolutions for 2025: tracking expenses, investing, and retirement planning.

1. Tracking Your Expenses

Do you know how much money comes in and goes out? If the answer is “no,” you’re not alone. Luckily, it’s quite simple to get started.

• List your monthly fixed expenses: Open a blank Excel file or grab a pen and paper. Write down your fixed monthly expenses in a list and calculate the total. Think of your phone bill, rent, health insurance, etc. Fixed expenses are usually deducted around the end of the month.

• Create a realistic budget: Now that you know your standard monthly outgoings, you also know how much you have left for variable expenses, like treats for yourself, vacations, clothing, and any unexpected bills or fines. By setting aside a realistic budget for these, you might even find you have some money left over to save—or increase your savings.

• Be kind to yourself: Tracking your income and expenses can be confronting. Be gentle with yourself. We live in a very expensive world.

How Can Equip Help? We provide a complete overview, directly linked to your bank account. You can then discuss this with an Equip budget coach.

2. Starting to Invest

Investing can be a great way to make your money work for you, but how do you begin? Here are some steps:

• Set a goal: What do you want to achieve with investing? A buffer for the future, a second income, or simply growing your savings?

• Learn the basics: Understand the different investment options, such as stocks, ETFs, and bonds. There are plenty of online courses, podcasts, and books to get you started.

• Start small: You don’t need to invest a large amount. Many platforms allow you to start with a small sum.

• Be patient: Investing is a long-term strategy. Don’t get swept up in short-term market fluctuations. But remember, it pays off: over the long term, investing in stocks yields an average annual return of 9%!

How Can Equip Help? Our platform offers dozens of articles and videos about investing. Additionally, we provide a monthly online investment update. Of course, you can also schedule an appointment with one of our financial planners for personalized advice.

3. Retirement: It’s Never Too Early or Too Late

Many people delay planning for retirement, but the earlier you start, the more you benefit from compound interest and attractive tax advantages.

• Assess your current situation: Do you know how much pension you’re building up through your employer? Check your pension overview here.

• Take advantage of tax benefits: In the Netherlands, you can make additional pension contributions with tax advantages through Jaarruimte and/or Reserveringsruimte. Find out if this applies to you.

• Consider investing for retirement: This can supplement your regular pension contributions and offers more flexibility.

How Can Equip Help? Equip offers a calculation tool to determine your Jaarruimte, educational materials to help you become an expert on pensions, and a tool to clarify your pension overview. You can always talk to financial planners to create a personalized plan and get your questions answered.

Make Your Financial Resolutions Concrete

The key to financial resolutions is to make them concrete and achievable. Write down your goals and break them into small steps. For example:

• “I want to invest €100 monthly in a sustainable ETF.”

• “I will review my pension overview this quarter and create a plan.”

• “I want to halve my monthly spending on subscriptions.”

With this approach, not only will it be easier to stick to your financial resolutions, but you’ll also find that small steps can lead to significant results.

Curious about how Equip can help? Equip partners with employers to assist as many employees as possible with their finances and, in turn, their future. Contact us here; we’d love to tell you more about our solutions and services.