My 6 New Year’s financial resolutions

New Year cartoon

Previous post – I keep a little more than average in my emergency fund

I never make New Year’s resolutions, however, this year I thought I would; this year I have this blog to hold me to account so why not use it?

Following on from my 2020 plans for the blog, I want to outline some financial goals for the year 2020…


Invest a further £3k into my fund portfolio

I don’t go into too much detail on this blog about the exact value of my various accounts to retain a certain amount of anonymity, but this one is probably my biggest goal.

£3k would take me up to a nice round number in my S&S account which I use to invest in mostly passive funds with a small number of active funds thrown in for good measure.

I know these ‘nice round numbers’ are pretty arbitrary, and FI is all about intentionality and purpose and calculating everything down to the minute detail, but I like to treat my finances like I do my physical spaces: keep it neat and tidy with round, whole numbers. It settles my mind and keeps my mild OCD in check.

Buy some Premium Bonds

These are one of the least popular financial products in the FI community, but something I have always wanted to hold for the fun of having a shot at the big prizes.

I don’t have a particular amount I want to buy; I just want to establish a decent holding – maybe £1k to begin with.

I am aware there are better ways of holding cash out there, but I, quite frankly, can’t be bothered to move my money around every month for piddly little amounts that are pretty insignificant on the long-term path to FI. I already optimise fairly efficiently with my investments and pension I think I’m allowed this minor bit of financial apathy.

Max out my LISA

I opened my LISA early 2018 just before the April deadline, so I was unable to maximise my contributions that financial year, but it has been the only year I have been unable to do so since.

It’s become a yearly routine as a great way of saving for a house. I tend to save up a sizeable chunk and dump it all in at once rather than smaller monthly amounts, but I have always had the cash set aside to be able to do this. Next year I don’t think I will do, so will introduce the monthly method for the first time.

Increase pension contributions to 20%

I’m very fortunate (at the time of writing this) that my company offers 10% as long as I contribute at least 4%.

This is a no brainer and is a free 10% pay rise on my wage for doing nothing. I contribute a further 4% on top of that just because…but I want to get that up another 2% to round it up to the nice full 20% (there are those nice round numbers again).

Increase holding in Disney to £1k (Freetrade)

I like Disney as a holding; I think they’re a fantastic option for the long term.

I will be holding this stock for my children to inherit. If I don’t have kids then this will be a holding until I am at least 55 (this is the age I aim to at least have the choice to move down to part-time work and make up the rest of my earnings with my investments).

Spend more

I’m not as frugal as I should be for someone pursuing FI, but I would like to be a bit more frivolous in 2020.

I went on a couple of holidays in 2019 and spent way more than I should on multiple nights out, coffee and ‘arty-farty’ craft beer, but I would like to ponder less on the smaller purchases like clothing and video games before pulling the trigger.

We all need to establish that balance between saving and spending; there’s no point hoarding money to never reap the rewards.


I’d love to hear if you have any financial resolutions, big or small, boring or left field. Let me know in the comments below.

3 thoughts on “My 6 New Year’s financial resolutions

  1. Happy New Year and good luck with your resolutions, AMM.

    My goals will be pretty much the same as the ones I set last year but I might consider a resolution or two.


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