6 Good Money Habits for 2021

According to GoSkills, the 6th most common resolution is to save more money or spend less money. Unfortunately, we know most people don’t stick with resolutions and you probably forgot about yours already. This year, we’d like to see you create and succeed at your financial goals by building good money habits.

Know Your Goals

Success doesn’t come to those who don’t know what makes them successful!  

Sit down and think about what exactly it is you’re hoping to gain this year.  Do you need a down payment for a new house?  Do you want to take a nice family vacation?  Do you need a new car?

To make better money habits this year set yourself up for success by knowing exactly what it is you need or want to achieve from your efforts.

Automatic Savings Transfers

If you’ve never read The Richest Man in Babylon, you might give it a read. The book is written in short, easy to read parables that remind you of the importance of paying yourself first.

You can set up a separate payroll deposit directly to savings or automatic transfers from your checking account to your savings account.

Stop Impulse Buys

Have you heard of buyer’s remorse?  

If you plan to get out of debt, save more money, or spend less money, impulse purchases are not the way. Every time you see something you haven’t thought about purchasing before, save it to a list and revisit it later to see how you feel about it.

Commercials are designed to create a feeling of “need” that doesn’t always align with reality. Give your brain time to process everything before making a purchase.

Plan Purchases

Going right along with cutting out impulse buys, take stock of what you need and want.  

Laying out a priority plan based on your budget helps solidify where you should and shouldn’t spend money. Even going as far as planning your meals will be useful in reducing wasteful spending.


You can save money and still live well by choosing lower-priced substitutions.

If you spend $7 on a 12 oz. bag of coffee to make at home, you could get 20 or more cups of coffee for a little more than you spend on one or two at a coffee shop.

Other substitutions include buying store brands instead of brand name items or borrowing books from the library instead of purchasing them.

Finally, choose home-cooked meals over dining out.  Not only is cooking at home healthier, but it’s also not as costly.  You may even find that you regularly have leftovers, which will stretch your budget further.

Round-Up for Savings

Every time you make a purchase, round up to the nearest dollar that gets put into your savings account. There are great apps that will automatically round-up purchases and put the change into savings for you.

Creating better money habits can be as simple as set-and-forget actions like automatic transfers or rounding-up or take a little will-power to change spending habits.

Still, these are some easier ways to let go of bad money habits and work toward financial successes.

6 Good Money Habits for 2021

Sweating the Big Stuff

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