5 New Year’s money resolutions if you want to be a millionaire

2025 is here, and money and paying off debt are always at the top of Americans' New Year's resolutions, after diet and exercise. How can you create an actionable and tactical game plan for January 1st?Here are 5 great ideas to start the new year off right.

1. Go to the grocery store … less.

Did you know that the average person visits the grocery store more than 10 times a month? oxygen financeIt will take up a significant portion of your time. And with each trip taking an average of 43 minutes (source: Time Institute), it's a lot of time. And remember this. Grocery stores have the same purpose as Las Vegas casinos and that is to separate you from your wallet.

In fact, a Publix with a full bar serving beer and wine recently opened just around the corner from me in Atlanta, Georgia. Now, why do we need to do that? The reason is that grocery stores understand that the most important thing is to get users to spend more time in the store, and as a result, spend more money.

Thousands worth of rare gold coins dropped into Salvation Army bucket by anonymous holiday donor

Here's how to reduce those trips.

• Make a list before you go shopping and stick to it. This saves you from walking around aimlessly and buying things you don't need.
• Avoid going hungry, especially during peak shopping hours (4-5 p.m.), as appetite can lead to impulse purchases.
• Don't fall into the trap of end-cap marketing. Just because it says BOGO (buy one get one free) doesn't mean it's in your best interest to buy one.

2. Invest like a millionaire – start with $100

Investing is no longer just for the super wealthy. For just $100, you can diversify your portfolio with assets once owned only by the wealthy.

• art: Platforms like Masterworks allow you to purchase stock in fine art, giving you the chance to own a piece of work by a world-famous artist.
• Collectibles: Imagine owning a classic car like a 1965 Ford Mustang Fastback through rallying. This innovative platform gives everyone access to high-value collectibles.
• real estate: Build wealth while helping renters do the same with ROOTS, a real estate investment company with community-focused goals.

These options offer creative ways to grow your wealth without requiring large upfront investments.

One smart move for 2025 is to invest in collectibles in a small way. FILE: This undated photo provided by Heritage Auctions of Dallas shows some of the more than 700 well-preserved 1910 baseball cards discovered in the attic of a home in Defiance, Ohio. Masu. (AP)

3. Pay off your debts

Debt is a major financial burden for many Americans, with credit card debt alone reaching nearly $1.2 trillion, with the average balance reaching $6,327. By tackling your debt now, you can achieve long-term financial freedom.

Here are two pro tips for 2025.

• To minimize the total amount you pay over time, focus on credit cards with the highest interest rates and lowest balances first, and add something to the earn column early in the year.
• Sell ​​gift cards without using them. If you have unused gift cards, sell them on a platform like CardCash. This turns any unspent balance into cold cash that can be applied to your debts.

4. Audit recurring subscriptions

Recurring subscriptions can quietly drain your finances. Many people forget about services they no longer use, and the cost of some subscriptions like YouTube TV has doubled in the last seven years (now $82.99 per month).

Here's how to take back control.

• Review your year-end credit card statement to identify any subscriptions, apps, or memberships you no longer use.
• If you want to maintain your subscription, consider options that allow you to share costs with friends and family. For example, YouTube TV allows 6 members with one subscription.

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Investing is no longer just for the super wealthy. For just $100, you can diversify your portfolio with assets once owned only by the wealthy.

5. Points programs are slowing down due to inflation.

Do you have a stash of airline miles, hotel rewards, or credit card points? These points represent real money, but their value decreases over time due to inflation and rising redemption costs. .

Please consider this. Over the past five years, your points may have lost 20% of their value. If you wait too long to use them, you may miss out on the benefits you earned.

Here's how to get the most out of your points.

• Use it for flights, hotel stays, or statement credits whenever possible.

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People who want to save money should look into their subscriptions to see if they can cut back on the ones they aren't using. File: The Netflix logo seen from above at its headquarters in Los Angeles, California, on January 24, 2024. (Tama Mario/Getty Images)

• Please check the terms and expiration dates of your rewards program regularly.
• Treat points like cash. Spend wisely before it loses even more value

It's not a solution, it's a plan.

Whether it's cutting back on unnecessary purchases or finding innovative ways to invest, these simple changes can have a big impact on your finances. Start small by reviewing your grocery habits and subscriptions, and move up to tackling investments and debt. Every step you take brings you closer to becoming a millionaire.

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