Here's how much millennials and baby boomers want to save this year

If money is on your mind for 2025, you're in good company. 

Nearly 70% of Americans made a financial-related resolution for 2025, according to a survey from the Motley Fool, and 64% have expressed confidence they'll meet their goals this year, according to New York Life's 2025 New Year Outlook Wealth Watch survey. 

A third of Americans described feeling "hopeful" about their money in 2025, and they've already made significant strides to set themselves up for success. In 2024, the average saver put away $7,460, according to New York Life's survey. Millennials saved nearly double that amount, banking $12,004. Baby boomers saved just $3,466. 

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While 69% fear inflation as being a potential hurdle to their financial goals, New York Life found that nearly half are thinking longer term, setting money aside for emergencies and other unexpected expenditures. The average emergency fund was nearly $18,500. 

"Americans are faced with ongoing change and uncertainty, which can make planning challenging," said Jessica Ruggles, corporate vice president of financial wellness at New York Life, in a release. "The new year is a great opportunity to adopt and adjust a financial strategy to enable financial resiliency when unexpected events occur." 

Being on top of your finances today is critical to saving for the future, though retirement is still often bumped off the priority list for more immediate financial needs and pressures. The survey found that just 19% of Americans have a strategy to save for retirement. For Gen X, the next generation set to enter retirement, only a third have retirement savings. This generation also carried the highest amount of credit card debt, owing nearly $10,200 on average. 

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Yet 73% of adults are invested in adjusting their financial habits this year in order to feel more stable: 37% plan to reduce their discretionary spending, and 28% are planning to modify their budget. 

Employees shouldn't have to do this work alone; partnering with a financial adviser and offering financial wellness benefits is proven to boost financial confidence and increase preparedness for emergencies. A fully thought-out strategy will help employees weather short term challenges, so they can focus on their longer-term goals. 

"Financial stress and challenges are often seen as a personal responsibility, but no one should have to navigate their financial journey alone," Ruggles said. "Despite uncertainty, we consistently see that relationships with financial professionals make a difference."