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If you’re thinking about how you can get better with money next year, you’re not alone — especially if you’re a Gen Zer or millennial.

A little over 75% of both generational groups are setting finance related goals for next year, according to Fidelity’s 2024 New Year’s Financial Resolutions study which surveyed 3,002 adults in the U.S. who are over the age of 18.

And some of the most common money goals aren’t too surprising. They include resolving to save more, spend less and pay down debt, per the survey.

While many may see the beginning of a new year as a chance to start fresh, Ramit Sethi, self-made millionaire star of Netflix’s “How to Get Rich,” says you don’t have to wait until January 1 to start building better money habits.

“If you want to start with a fresh slate, great,” he tells CNBC Make It. “But when you start before January 1, you’re sending yourself a powerful signal that you’re in charge of your behavior — not a calendar.”

Here are the three things he recommends you do to set yourself up for financial success in 2024.

Do an end-of-the-year check in

Sethi recommends taking a look at how you’ve handled your finances over this past year before the new year begins. That way, you can figure out what worked well for you, what didn’t and what you want to change which can help you map out a solid plan of action to reach your money goals.

For instance, if one of your goals is to save more money next year, it’s helpful to evaluate your top spending categories to see if you can redirect a portion of those funds to your savings.

Create your “conscious spending plan”

It’s no secret Sethi believes meticulous budgets are “pointless.” Instead, he recommends creating a “conscious spending plan” that tracks just four numbers:

  • Fixed costs, like your mortgage, rent or utility bills
  • Savings, such as your emergency fund
  • Investments, which would include your contributions to your 401(k) or Roth IRA
  • “Guilt-free spending,” such as shopping or dining at restaurants

By dividing up your money in this way, you ensure your financial priorities are taken care of first so that the rest of your money can go towards things you love, Sethi says.

Define your “rich life”

Ramit believes that living a “rich life” isn’t necessarily associated with earning a certain amount of money.

“A ‘Rich Life’ is your ideal life,” he says on his website, which could mean anything from being able to pick up your kids from school every day to buying an expensive sweater without feeling guilty.

And as you’re defining your “rich life,” it’s important to be specific, Sethi says.

For instance, don’t simply make a broad goal to “stop worrying about money,” he says. Instead, say something like “I want to be able to shop at the grocery store without looking at prices.”

As you create your financial plan for the new year, having concrete milestones in mind can help keep you on track as well as encourage you to keep going as you achieve your goals.

“Jot down what your “rich life” is, then use your money to work towards it,” Sethi says.

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