How to Refresh Your Finances in 2024

How to Refresh Your Finances in 2024

Posted on Jan 05 2024 Posted in  Money-Saving Tips
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How to Refresh Your Finances in 2024

As January marks the start of a new year, many are considering a financial refresh. Whether you’re trying to save for a vacation, car, or house, having a financial goal can be a great way to stay accountable for the new year.

TopCashback’s consumer expert Samantha Landau offers her advice on how to set yourself up for success in 2024.

Maintain a budget. Budgeting is key to making sure that you have enough money to cover current expenses as well as future ones. By understanding how much you currently spend compared to your current income and what your goals are, you can identify areas that you need to either contribute more or less to.

For example, you may find that you are spending more on subscription services that you don’t use. In this case, you can cancel some of the accounts and put that money toward a different goal.

Pro-tip #1: Adopting a specific budget formula, like the ‘50/30/20’ rule, helps keep you on track financially. With this particular budgeting technique, you’ll want to spend 50% of your after-tax income on necessities (i.e. rent, utilities, food, etc.), 30% on personal expenses (i.e. dining out, activities, etc.) and 20% on financial obligations (i.e. debt repayment, savings, etc.). There are various other budgeting formulas out there, so find what works best for you and try to stick with it.

Keep your credit in check. Paying your bills on time (even if you can only pay the minimum) and regularly reviewing your credit report are important in making sure all of your hard work is paying off.

You can request a free copy of your credit report from one of the nationwide credit reporting companies (Equifax, Experian and Transunion). Compare your own records to the reports and be sure to verify that all the info listed is accurate. If something is off or missing, file a written report of the inaccuracy to a credit reporting company as well as the initial information provider.

Pro-tip #2: Try to get in the habit of paying off your credit card in full each month, if you can. Not only will this save you the stress of racking up debt, but it will also help you avoid additional interest on the total balance due.  

Build your savings. The first step to building your savings is to save money wherever possible. No matter where you’re shopping, always look for relevant coupons and discounts before buying. And if you shop online, use a cash back site, like TopCashback, which guarantees the highest percentage of your money back on qualifying purchases from 7,000 retailers nationwide. You can put the money you saved into a savings account so it can start accruing interest.

Adopting a specific budget formula, like the ‘50/30/20’ rule, helps keep you on track financially.

Pro-tip #3: Use a rewarding credit card whenever you shop to earn cash back, points or miles on your purchases — depending on your card’s program. Once the billing period ends, see if you can apply those rewards as a statement credit. Take the amount you saved and transfer it into your savings account to keep funding your goals.  

We would love to know how these tips have helped you with your financial goals. Let us know in the comments below!

Photograph of the blog author, Olivia Hart.

by Olivia Hart

Olivia Hart is the public relations coordinator at Since joining in June 2023, Olivia has immersed herself in personal finance and money-saving tips. Beyond the office, Olivia spends her time being active and spending time with friends and family.

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