New Year, New Money Moves: A Step-by-Step Guide to Bolstering Your Financial Health
As the new year comes around, we all consider what we want to accomplish—whether it’s getting healthier, acquiring a new skill, or getting financially free. One of the most powerful resolutions you can undertake is gaining control over your finances. After all, having good finances affects nearly everything in life, from professional development to overall wellness.
To help build a solid financial foundation for the coming year, my boyfriend and I take a step-by-step approach: we begin with a financial well-being checkup, examine our net worth, construct a spending plan, distinguish between needs and desires, utilize interactive personal finance tools, tap into money-smart mobile apps, and capitalize on bargains and discounts. These actions serve to keep us accountable and headed toward financial success—and can do the same for you!
 Financial Well-Being Assessment
Same as a checkup is the starting point for a robust fitness program, a financial checkup is the starting point for improved money habits. Prior to establishing our financial objectives, my spouse and I undertake a Financial Well-Being Assessment to assess our status quo.
What Is a Financial Well-Being Assessment?
This quick, 12-question survey allows us to see:
How we track spending and savings.
How ready we are for money emergencies.
Whether our money choices reflect our priorities.
When we’ve finished, we both get a targeted score for financial well-being and resources specific to our situation. Not only is it educational, but it’s also an entertaining method of comparing money attitudes so we’re both in agreement about handling money.
 Net Worth Statement
One of the most powerful ways to know your financial situation is with a net worth statement. It can seem daunting, but by using a Personal Net Worth Tracker, it doesn’t have to be.
How to Calculate Your Net Worth
We make it easy by using a tracking form to plug in:
???? Assets: Savings, investments, real property, vehicles, retirement accounts.
???? Liabilities: Loans, credit card debt, mortgages, outstanding bills.
When we enter it, the tool automatically prepares our statement of net worth, providing us with a better sense of where we are financially.
Creating a Spending Plan That You’ll Love
Budgeting is only the beginning—a spending plan is a map to financial success. It helps you use money on purpose, instead of making random purchases that don’t align with your objectives.
How We Organize Our Spending Plan
We divide our plan into these main components:
Fixed Expenses: Rent/mortgage, utilities, insurance, loan payments.
Variable Expenses: Groceries, dining, transportation, entertainment.
Savings & Investments: Emergency fund, retirement savings, stock investments.
Goals & Future Plans: Vacation funds, home upgrades, personal development.
Needs Versus Wants
he ability to distinguish between needs and wants is critical to financial stability. My partner and I look closely at our spending habits and divide our expenses.
Needs: Rent, utilities, gas, insurance, food—these are absolute necessities.
Wants: Gym memberships, streaming services, shopping, takeout—things we like but don’t have to have.
We then go over what discretionary expenses we can change to achieve our financial objectives without dropping our lifestyle.
 Using Interactive Tools and Calculators
Financial calculators allow us to see how various financial choices will affect our future. Whether we’re determining an investment, budgeting for a large purchase, or projecting savings growth, these calculators provide clarity and confidence in our choices.
Typical calculators we employ:
Investment Return Calculator – Estimates future returns on investments.
Debt Payoff Calculator – Illustrates how various payment methods affect loan payback.
Savings Goal Tracker – Assists in determining the amount of monthly contributions to achieve financial goals.
 Sen$e On-the-Go Financial Education
My partner and I adore Sen$e, a fun and interactive financial education app. It keeps us motivated with:
Achievement badges that encourage us to do better.
Bookmarking tools to save important financial tips.
Notes section to monitor our progress.
Special calculators for Service members’ particular financial requirements.
We finish modules in our downtime and share our learnings in check-ins, and finances become a fun shared experience.
 Taking Advantage of Deals and Discounts
Identifying money-saving opportunities is also an important step towards financial prosperity. We make use of:
Military discounts on food, products, and services.
Military family savings tips by MilSpouse Money Mission.
Military family-specific inflation hacks to make our budget go further.
By seeking out discounts and using personal finance tips, we get the most out of our spend while adhering to our financial objectives.
Final Thoughts
Saving is only half the battle when it comes to money planning—it’s about making conscious choices that support your financial objectives. By using these seven steps, my spouse and I build our financial well-being and face the future with confidence.
If you’re in search of a systematic path to financial health, this workbook provides down-to-earth advice on how to gain control of your finances, amass wealth, and achieve more financial peace.
So come into the new year and put financial well-being at the top of your list—because the best money decision is the one you make with intention!
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New Year, New Money Moves: A Step-by-Step Guide to Strengthening Your Financial Health
As the new year approaches, many of us reflect on the goals we want to achieve—whether it’s improving our health, learning a new skill, or achieving financial freedom. One of the most impactful resolutions you can make is to take control of your finances. After all, financial stability influences almost every aspect of life, from career growth to personal well-being.
To build a solid financial foundation for the coming year, my partner and I adhere to a routine process: we begin with a financial well-being evaluation, examine our net worth, create a spending plan, distinguish between needs and desires, employ interactive financial tools, take advantage of mobile apps for money education, and capitalize on bargains and promotions. Each of these actions keeps us in check and striving toward money success—and can do the same for you!
Step 1: Financial Well-Being Check-up
Just like a health checkup is the basis for a healthy fitness plan, a financial checkup is the launching point for improved money habits. Before we establish our financial goals, my spouse and I take a Financial Well-Being Check-up to assess where we’re starting from.
What Is a Financial Well-Being Check-up?
This easy, 12-question survey informs us about:
How we handle expenses and savings.
Our readiness for money emergencies.
Whether our investment choices align with what’s important to us.
When we’re done, both of us get a customized financial well-being score and resources based on what we need. It’s not only educational, but it’s also a great way to see how we have different money views, so we can be sure we’re on the same team with money.