New Year, New You

New Year, New You

As 2026 kicks off and all those New Year’s resolutions take hold, I figured, why not give you some financial resolutions to tackle in hopes of having a healthier financial life this upcoming year?  Personally, I work best with goals and resolutions, maybe a little too well to be honest, as I will obsess over things to an unhealthy level. 

1. Monthly Savings– Great time of year to pick a savings amount and stick to it.  If you aren’t saving monthly now, well, start.  It can be as simple as a few dollars a month into a Roth IRA, or contributing to your 401(k) and getting that free employer match.  Even if you increase your savings by 1% it will go a long way to making you financially free.
2. Debt– Do you have a plan to tackle any nasty debt out there?  Do you have a plan to tackle any debt that isn’t nasty out there?  It could be overpaying a few dollars or cutting up a credit card altogether.  Debt takes many forms, from nasty (credit cards) to not-nasty (mortgage), and not all of them need aggressive plans to pay them down.  Regardless, though, making sure you have a plan is the first and key point when working with debt.
3. Build that budget– Fresh year, and you now have all last year’s financials in hand.  You also have raises at work and should have a good idea of the large expenses you want to spend this year, such as a big vacation or bathroom remodel.  This all leads to my next suggestion of creating a real budget based on these facts to go into the plan for a year.  This will also provide you with a guide and help you be accountable, such as logging your calories. 
4. Audit your subscriptions & bills– Speaking of having last year’s financials in hand, it’s time to do an audit of where you spend your money.  Are you paying too much for TV apps and subscriptions?  Being double-billed for this membership?  Where are you not optimized or spending too much?  This can be both therapeutic and maddening when you realize all the waste in your spending.
5. Automate, Automate, Automate– Set it and don’t forget it is the key.  I’ve never missed a credit card payment, never missed a mortgage or car payment, and honestly never missed a bill.  You know why?  Because I’ve set up automatic payments on virtually everything.  This way, I make sure my bills are paid, my investments are automated, and my credit score stays pristine!
6. Credit Score– Speaking of credit score, why not make that one of your resolutions?  First, you must get a sense for what your credit score is.  Then, work through ways to improve them.  Whether disputing errors, automating and paying bills on time, or making sure you don’t carry too high a balance on your credit cards month to month.  Having a great credit score is more than just bragging at a cocktail party; it can have serious implications on your finances.
7. Emergency Fund– Do you have 3-6mo of expenses saved in an emergency fund?  If not, I highly suggest working your way there this year, and sorry I tucked it way down at number 7, as it is super important.  I’ve seen way too many families be seriously affected by not being able to handle a bump in the road.  Don’t be one of those people, and the first step is having a solid safety net.
8. Reforecast those plans– At last, lucky number 8.  No time like starting a new year to see how you are trending and tracking towards your goals.  Run models, see what needs to be adjusted, and are you ahead or behind target?  I do this every year, and it serves as a huge motivator regardless of the results.  If I am behind, I kick it into high gear.  If I am ahead of goal, I think, man, can I adjust things a little more and be even better off?  You know we are here for you and want to help in any way we can as many people as possible can achieve their lifelong goals.

The end

Hopefully, this gives you some fodder to discuss with your family or significant other to set you on the right track for a great 2026.  Appreciate you all and as always stay wealthy, healthy, and happy.