24 Awesome Things You Can Do for Your Finances in 2024

At this point, we're just a few short weeks away from the start of a new year. And if you want 2024 to be your best financial year ever, here are several important personal finance moves.

1. Boost your emergency fund

Data from SecureSave shows that most Americans don't have enough cash on hand to cover an unplanned $500 expense. Boosting your emergency fund could make it so you're not forced to reach for a credit card the next time an unplanned bill arises. If you can get your emergency fund to a point where there's enough cash to cover three full months of essential bills, you'll be in a pretty good spot.

2. Automate your savings

You may be more likely to meet your 2024 savings goal if you put the process on autopilot. Arrange for a portion of every paycheck you get to land in your savings account automatically at the start of each month, so you can stay on track.

3. Contribute to an IRA

Funding an IRA could not only set you up with a nice amount of retirement income down the line, but also help shield some of your near-term income from taxes. To get a tax break on your contributions, you'll need to choose a traditional IRA over a Roth. Both IRA types, however, max out at $7,000 for savers under 50 in 2024 and $8,000 for those 50 and over.

4. Snag your 401(k) match

In 2024, maxing out a 401(k) means contributing $23,000 if you're under 50, or $30,500 if you're 50 or older. That's probably not feasible if you earn a typical wage. But it does pay to try to contribute enough to your 401(k) to snag your full employer match, so you can get the most amount of free money possible.

5. Fund an HSA

If your health insurance plan is HSA-compatible in 2024, then it pays to contribute to one. You'll get a tax break on the money you put in, and you'll then get the option to grow your balance by investing it. You can fund an HSA in 2024 if your deductible is $1,600 or more for self-only coverage, or $3,200 or more for family coverage. The limits for out-of-pocket maximums are also $8,050 and $16,100, respectively.

6. Leave your HSA alone

There's no time limit for spending down your HSA balance. If you're able to pay for medical bills another way, it pays to leave your HSA balance intact so you can continue investing it, especially since HSA gains are yours to enjoy tax-free (for medical spending).

7. Pay off credit card debt

Carrying a credit card balance could be costing you money by the day. Do your best to whittle down existing credit card debt, whether by cutting back on expenses to free up the cash or turning to the gig economy for extra income.

8. Pay off a personal loan

You may be paying less interest on a personal loan than on a credit card balance. But if you're able to pay off your personal loan, that's one less debt to worry about, and you can save on interest, too.

9. Pay off a HELOC

HELOCs can be tricky to pay off because the interest on them tends to be variable, leading to unpredictable payments. If you're able to pay off your HELOC in 2024, you'll have one fewer headache to grapple with.

10. Snag a credit card sign-up bonus

Credit card sign-up bonuses can put extra cash in your pocket that helps you meet other financial goals. If you're planning a big trip or another large purchase, like new furniture, then it pays to apply for a new credit card with a sign-up bonus at a time when you're more likely to meet the spending requirement.

11. Find a budgeting app that works for you

You don't have to follow a budget in 2024 if you can't stand the idea. But doing so could help you better manage your earnings and spending. And if you find a good budgeting app that works for you, you may find that the process is seamless and not so time-consuming.

12. Cut an expense you don't get much value out of

You don't want 2024 to be your most miserable year yet, so don't force yourself to cut out the small luxuries that make you happy. But if there's a bill you can slash that you won't really miss, like a gym membership you only use three times a month, then eliminating it could free up a nice amount of cash.

13. Learn to cook

Cooking at home is generally a lot less expensive than dining out. If you're not so experienced in the kitchen, find a blog or website with basic recipes and work to get more comfortable in the kitchen. And don't be afraid to enlist the help of a friend to show you some basics.

14. Join a warehouse club

If you have a larger family to feed, then a membership to a store like Sam's Club or Costco could be beneficial. Buying groceries and household essentials in bulk could lower your spending substantially.

15. Invest in a programmable thermostat

The ability to better control your heating and cooling could lead to lower utility bills. It pays to invest in a programmable thermostat so you can set your heat and air conditioning remotely.

16. Maintain your home

Home maintenance costs money. But the repairs you might face from a lack of maintenance might cost you even more. Make a list of maintenance items that are required throughout the year and block off time on your calendar to get them done.

17. Continue driving an older vehicle that works just fine

It's tempting to upgrade to a nicer car when yours has seen better days. But vehicle prices and auto loan rates are pretty high these days, so if your current vehicle works just fine, try to ignore the fact that it doesn't have the fanciest features. You might save a bundle by driving your older car for an extra 12 months.

18. Shop around for new auto insurance

There's no rule saying you have to stick with the same car insurance company year after year. Spend some time shopping around for auto insurance, because you never know when one company might be willing to give you a better price.

19. Talk to your homeowners insurance company about discounts

Certain home improvements or features might result in cheaper homeowners insurance. Talk to your insurer about ways to lower your costs, whether it's putting in a doorbell camera or investing in an alarm system.

20. Sign up for pet insurance

Whether you adopted a pet recently or years ago, you're always at risk of them getting injured or ill. It pays to sign up for pet insurance for protection against massive bills. You can see if your employer offers a pet insurance policy, as that might result in discounted premiums.

21. Start saving for the holidays in January

Many people are in the process of racking up holiday debt this month. Start saving for the 2024 holidays in January so that come December, you'll be able to pay for your gifts and purchases in full without having to resort to a credit card balance that lingers into the new year.

22. Boost your credit score

The higher your credit score, the easier it becomes to borrow money, and at a more favorable rate. You can raise your credit score by paying bills on time, whittling down credit card balances, and correcting errors that appear on your credit report (which you can access for free every week).

23. Take good care of your health

Watching out for your health could help prevent certain medical issues from coming to a head and costing you money. Talk to your doctor about ways to stay healthy, whether it's getting into an exercise routine or making certain dietary changes.

24. Stop putting off buying life insurance

Buying life insurance sooner rather than later might result in less costly premiums. Shop around for insurance in 2024 if you don't have a policy already and there are people in your life who depend on you financially.

The right moves on your part could make 2024 a great one, financially speaking, from start to finish. You may not be able to tackle every single item on this list. But if you're able to check off even a few, you can consider that a big win.