Episode 129

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Published on:

18th Dec 2023

4 Realistic New Year’s Resolutions that Will Set You Up for Financial Success in 2024 (and beyond) | E129

I’ve noticed that New Year’s resolutions have been taking some heat lately. I get it, it is totally illogical that a single predetermined day is chosen for everyone to start a major life change and by February, most of us have given up on our grand changes and retreated back to our normal lives.

But there is something about a fresh calendar year that gives me hope and naturally makes me prioritize the changes that I’ve been putting off. I think with intentionality and some realistic level setting, New Year’s resolutions don’t have to be something you feel guilty about by February.


But what do I mean when I say intentional and realistic level setting? Have you heard the quote, “Most people overestimate what they can do in a year and underestimate what they can do in a decade?”


Well, that summarizes why New Year’s resolutions get their bad rep. We set unrealistic expectations - to completely reinvent our career path, pay off 6-figures in student loans, or to go from super spender to super saver. These goals are just impractical - at least in a short timeline such as a year.


Here is the thing - you don’t need to solve all of your money problems in one year. You just need to point the sail in the right direction. So what would be more practical New Year's resolutions related to money?


Well, that’s what we are going to talk about today. Here are 4 realistic financial goals that if accomplished in 2024 will set you up for a decade of success.


Key Takeaways:

  • How to accomplish your 2024 New Years’ resolutions
  • 4 realistic money goals you can set for yourself
  • How to create a simple budget to manage your spending
  • A simple side hustle that you can start this weekend
  • How to save up for your first emergency fund
  • The power of compound interest


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About the Podcast

FI Minded - Financial Independence, Early Retirement & Lifestyle Design
Achieve Financial Independence & Have Fun Doing It
Pursuing financial independence, financial freedom, or early retirement often leads to the same questions: How do I become financially independent? How much should I save? What happens after I reach FI?

FI Minded helps you use money to create more freedom, without turning your entire life into a financial optimization project.

Host Justin Peters explores the decisions behind building a flexible, work-optional life, from reaching financial independence and navigating Coast FI and Slow FI to spending your money, changing careers, stepping away from work, and figuring out what comes after FI.

Each episode combines practical personal finance with conversations about early retirement, lifestyle design, work, spending, healthcare, self-employment, and life after financial independence. The goal isn't simply to reach FI as quickly as possible. It's to make progress toward financial freedom while actually enjoying your life along the way.

On FI Minded, you'll learn how to:
- Reach financial independence without burning out
- Build a flexible, work-optional lifestyle
- Navigate Coast FI, Slow FI, and other paths to FI
- Make smarter decisions about spending and saving
- Prepare financially and emotionally for early retirement
- Figure out what life can look like after financial independence
- Think through the tradeoffs behind major money and lifestyle decisions
- Make progress toward financial independence while actually living your life.

Some of our past guests include Carl Jensen (1500 Days), Jeremy Schneider (Personal Finance Club), Nick Loper (Side Hustle Show), Andrew Giancola (The Personal Finance Podcast), Jordan Grumet (Earn & Invest), Rachael Camp (Work Optional), Jillian Johnsrud (Retire Often), Sean Mullaney (FI Tax Guy), Jill Sirianni (Frugal Friends), Jackie Cummings-Koski (Catching Up to FI), Joel Larsgaard (How to Money), Cody Garrett (Measure Twice), Jesse Cramer (Personal Finance for Long-Term Investors), Jess (The Fioneers), Chris Hutchins (All The Hacks), Diania Merriam (EconoMe), Andy Hill (Marriage Kids Money), Fritz Gilbert (Retirement Manifesto), Maggie Tucker (Inside Out Money), Cody Berman (The Financial Independence Show), Joe Saul-Sehy (Stacking Benjamins), Doug Cunnington (Mile High FI), and and others helping you rethink how to approach financial independence.
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