2026 Financial Resolutions: Set Yourself Up for Success

2025-12-03 | 06:28:42

December is a great time to start thinking about your 2026 finances. We have three big questions to ask yourself which will help course correct and set you up to meet your financial goals in the New Year.

But before we get that deep, let’s cover a few financial basics - and know that it’s okay if you’re still working on these steps:

Prioritize paying off high interest debt. That means credit cards with 20% rates and similar items. Consider a consolidation loan if you have multiple debts with rates over 15%. Or Try my refinance analyzer which will help you visualize how much you can save. Start My Check
Automate your savings. If you don’t already have an automatic withdrawal from your main checking account, set one up! Even just $50 a pay cheque can make a difference.
Forgive yourself for past mistakes. If you haven’t been responsible financially in the past, it’s okay! Let go of that and know you can do better, starting right now and building better financial habits.
Check your credit score. If you have a blemish or need to build it up, work on paying bills on time, in full, every time. Close unused credit cards or other form of debt.

Now let’s dive into the three big questions we mentioned at the beginning.

Question 1: When was the last time you reviewed your accounts?
Looking at your accounts on a monthly or quarterly basis is a great financial habit. A few action items:

Check your statements for unauthorized or unrecognized transactions
Identify preauthorized debits and cancel things you really don’t use

Question 2: What are you saving for?
Saving in general is great, but having specific goals and seeing progress as you work towards them is even better. You likely want to save for retirement, go on vacation, buy a new home, have an emergency reserve, etc. Once you’ve established what you’re saving for, it’ll be easier to make sacrifices when you really need to.

Here are two ways to get and stay on track in 2026:

Get organized: Some folks like to have more than one account; others have a spreadsheet or app that tracks progress. Either way, keeping track and visualizing your progress is important.
Build on your success: Investing what you save will help compound your success. For short term savings, you’ll want to take less risk, so a savings account with low interest is probably a good bet. But for longer term goals, investing will bring you higher returns. Your best bet is to speak to a financial advisor or licensed professional for tailored advice.

Question 3: Do your spending habits need an audit (or an edit)?
More of a statement than a question here, as it’s a great way to better understand your financial habits and motivations. Start by reviewing your last three months of credit card and bank statements. Pay attention to spending patterns and see if you notice anything you’d like to improve on. Maybe you want to eat out less, ban yourself from Sephora… whatever your vice is, take note of it.

Another aspect of a successful edit is improving your own financial literacy. Pick topics you’re interested in and listen to a few podcasts or videos. A few to consider:

Maximizing different types of investment accounts
Asset classes (fixed income, equities, commodities)
Alternative asset classes (real estate, collectibles, cryptocurrencies)
Compounding interest (both on debt and investments)

Improved financial literacy = more informed financial decisions.

As we wrap up this discussion on financial resolutions, here’s one last piece of advice: take the emotion out of your finances. Identifying your goals, improving your knowledge, and setting up a plan to succeed will take your goals to the next level.