With 2026 beginning just last week, many people kicked off the new year with resolutions.
Data journalist Jamie Ballard reported 32% of resolutions recorded in a survey for this year were money related. 21% of participants dedicated themselves to saving more money, and an additional 12% want to reduce their debts.
Amanda is here to tell us about tools that can be used to change old habits and practice financial health.
Wynter Varner
Thank you for joining us today!
Amanda Christensen
Thanks for having me. It's great to be here.
Wynter Varner
What does it mean to be financially healthy?
Amanda Christensen
That's a great question. I like referring to the Consumer Financial Protection Bureau, who define financial wellbeing, or financial health, as the ability to meet financial obligations that are current, feel secure about the future, and be able to make choices today that give you some choice tomorrow.
Basically, you're not strapped down or unable to make decisions because of your financial situation. Your financial situation ought to give you control and confidence with money.
In general, you can cover today's needs, you can handle the unexpected that comes your way, and you can make progress towards your future goals without constant stress.
So, it's not about being rich, right? It's about your money supporting your life, not running your life. I think that is the difference. That's true, financial health.
Wynter Varner
How does that financial health look different for different age groups?
Amanda Christensen
Well, this is a fun conversation. Financial health changes through life — by age and stage. I mean, some of the basics stay the same.
I think in our 20s and 30s, it often means building habits, smart habits, with regard to budgeting or saving regularly, managing debt, and investing for the future. Certainly, those are common things we're working on in our 20s and 30s.
Then, by midlife, there's all of that that was previously mentioned, but we also add balancing some competing priorities. Often in midlife, people are making housing updates. A lot of folks have kids, and planning for their future education and aspirations comes into the mix. Oftentimes, people are dealing with aging parents. And then, of course, they want to remain on track for their own retirement.
Later in life, I think financial health changes, so it's really about protecting income, minimizing risk, and just making sure your money lasts.
The goal is the same at every age, stability and peace of mind, but the needs evolve as we go through life.
Wynter Varner
What are some tools people can use to reach these goals this year and manage their finances well?
Amanda Christensen
I think generally, in response to this question, I have learned that we need to start simple.
There's no complex financial secret or strategy that you've never heard of that someone's been keeping from you. It's really, truly about a spending plan that you own. Even if it's really basic, one of the most powerful tools for changing habits is writing down things you commit to do.
We help ourselves connect to our spending when we create a spending plan and see how much we're truly spending in categories like gas, groceries, entertainment, and household items. Creating awareness is where behavior change really begins.
Another tool I would recommend people use is to automate your savings payment to yourself every month. Saving is just future spending, that's a really important way to view saving.
Automating bill payments reduces decision fatigue. It's one less thing you have to do every month, and it can also help you avoid late fees and improve your credit.
Small, simple, consistent actions, like having a written spending plan and automating your savings and bill payments, matter.
Wynter Varner
Do you have any other resources you'd like to share for today?
Amanda Christensen
I am part of the empowering financial wellness team who offer free budget mastermind workshops through Utah State University Extension in partnership with the Department of Workforce Services.
We walk people step-by-step through creating a realistic, sustainable spending plan. Participants walk away feeling really empowered by this.
We feed you lunch, and we have events all across the state this year, within the next few months. You can easily find upcoming classes and dates on utahmoneymatters.org.
For ongoing tips, tools, and free classes, I encourage listeners to follow @utahmoneymatters on social media so you can stay in the know all year long.
Wynter Varner
Thank you again for joining us today, Amanda.
Amanda Christensen
You're welcome, thanks for having me. Happy New Year!
Wynter Varner
Happy New Year. This has been Wynter Varner with the USU Extension Education Highlights. See you next time.
For more information about finances, you can visit the USU Extension finance page. Specific information about financial health can be found on this fact sheet.
