Smart Strategies For A Financially Bright 2025

Maximizing workplace benefits and tackling post-holiday financial stress

The holidays may bring laughter, presents and family reunions, but it can also be a source of financial stress and overspending. As we close out the holiday season, take a moment to revisit your finances and ensure that you’re making the most of your money – including workplace benefits. Reviewing your choices now can help set you up for financial success in 2025.  

The holiday season is a great time to show appreciation for those we love and the causes we value, and there are many ways to give while also protecting your financial health. Give yourself a moment to review your current financial strategy, identify what is working for you and what you can do differently to move closer toward your goals. Your workplace benefits are a tool that can help empower your financial future and improve your overall well-being.

Here are three ways to make the most of your workplace benefits and financial future as we close out the holiday season:   

1. Review Your Short and Long-term Financial Goals

The new year is a great time to revisit your short- and long-term goals and ensure they align with your finances. To help alleviate any financial stress over the holidays, try setting a realistic limit for yourself for how much you’re willing to spend, from travel and lodging to gifts and charitable donations. As a first step, map out where your money is going, checking in on basic items like your account balances, budget, income sources, debt payments, credit cards, and bills. Use online tools such as debt calculators, retirement calculators, and budgeting apps, which can help you track your monthly income and expenses—your workplace benefits may include tools like these that you can use. 

The holiday season doesn’t have to derail your financial goals. To stay on track, assess what your long-term financial goals are and create a general timeline of when you’d like to achieve them. Are you planning to buy a home in the next five years? Starting a family? Are you saving for a college education? What age would you ideally like to retire? According to our research, people are primarily saving in the long term for retirement (74%), an unknown emergency (55%), and because it’s the right thing to do (50%). ^[1]

No matter how distant your long-term goals seem, it is never too early to prepare for the future. By setting clear goals and taking actionable steps to reach them, you’ll be better equipped to make informed decisions about your finances and strategically tackle your benefits. 

2. Take Advantage of Your Workplace Benefits

Even if your workplace benefits elections don’t change much each year, it’s important to sit down and review how you used your benefits in 2024 and whether you need to adjust anything for 2025. Remember to factor in any potential life events – such as upcoming medical procedures or ongoing treatments. 

Workplace benefits such as retirement, equity and insurance coverage are key areas of your financial life that can help you reach your long-term goals. Take the time to assess your current financial status and decide how much of your income you’re able to allocate towards different benefits. For example, reflect on your prior year’s medical expenses to determine if a tax-deferred HSA savings plan could be a good fit, and if your employer offers a retirement plan such as a 401(k), enroll and look for ways to increase your monthly savings contributions. 

Additionally, your workplace may offer benefits that can help create wiggle room in your budget or build investments—like discount programs, an emergency saving account match and equity compensation. There may be opportunities to save through emergency backup care, education benefits and financial wellness programs, which can help relieve any potential financial burdens. Our research shows that beyond traditional workplace benefits, employees are most interested in employer 401(k) matching (73%) and retirement plans (59%). ^[2]

Review any life, disability, long-term care, and property or casualty insurance policies offered through your workplace to help ensure you and your family are well protected. Be careful not to ignore the fine print. Also, evaluate cost information for any medications you may need ongoing in the future.  

There is still time to give back this season: More employers are offering their employees access to a charitable giving vehicle called a donor-advised fund (DAF), which lets you donate assets you already own directly to charity and can potentially help reduce your tax impact—check with your employer and tax advisor to find out if this might be an appropriate option for you. Research shows that matching gift programs are used by 65% of Fortune 500 companies. ^[3]

3. Lean into Educational Resources

Remember, you don’t have to navigate this process alone–your workplace likely offers promotional webinars or events. Whether you’re early in your career or an experienced professional, it’s worthwhile to take advantage of these resources so you don’t miss out on any new opportunities or helpful information. Review all your plan details, including how to locate important information. 

If you find yourself feeling stressed or uncertain about post-holiday bills or navigating any other aspects of your financial life, talk to your employer about any additional guidance they may provide that can help you navigate your financial life. If your company offers access to a financial coach or advisor through a financial wellness or retirement plan, talk to them. According to our research, a third of employees have never thought to reach out to their employer for help ^[2] — but companies invest a lot in their benefit programs, and they want to make sure you are engaged, supported, and satisfied. 

At the end of the day, revisiting your finances ahead of the new year is an opportunity to make the most of workplace resources to support you and your loved ones’ financial future. By taking the time to review your benefits elections and make informed choices, you’ll be better prepared to tackle the year ahead. 

Footnotes
^[1] Morgan Stanley Wealth Management Pulse Survey Reveals Cautious Optimism Despite Short Term Volatility, 2024
^[2] State of the Workplace Study, MSAW, 2024
^[3] Chief Executives for Corporate Purpose® Giving in Numbers report, 2024

Disclaimer: This material has been prepared for informational purposes only. 

Kate Winget is the Chief Revenue Officer at Morgan Stanley at Work.