Wow, you tackled a lot this year!
As 2026 approaches, be sure to take stock of all of the financial wins you may have had: debt you’ve worked to pay off, financing you leveraged to upgrade your home, or making progress toward a saving milestone.
Now is a great time to assess your financial habits and redefine your future goals. Ask yourself, when it comes to your personal finances, what went well in 2025? Also, what could stand to be improved?
Here are some smart money moves you can start making starting right now to help set yourself up for further financial success in the coming year.
1. Make (or Refresh) Your Budget
It might seem simple, but using a budget can be a helpful way to manage your finances, regardless of where you are on your financial journey.
Budgeting can give you a clearer sense of how your income measures against your needs and can provide insight into where you might cut back on unnecessary spending, empowering you to strategize about paying down debt, saving money, and achieving other financial goals.
Your budget shouldn’t be a one-time, “set it and forget it” thing. Review it regularly to ensure that your needs and goals align with your spending.
2. Plan for Potential Windfalls
If you’re expecting to receive a year-end bonus from work or a tax refund, start thinking about how you may want to use that money to further your financial goals.
There’s nothing wrong with spending a portion on something you want but consider other ways you can put the remainder of any gifts or extra income you receive to good use. For example, maybe it’s time to replenish your emergency fund, or maybe you have some holiday gift debt that you can pay off early. In other words, consider how to “invest” back into yourself if possible.
3. Forecast Upcoming Expenses
Tax season typically begins at the end of January each year, and you have until mid-April to file your Whether you’re interested in upgrading your gaming console or a home appliance, or considering a significantly bigger purchase like a car or house, planning ahead can help you save strategically and minimize taking on debt.
Let’s say your car will soon need new tires. Calculate how much that may cost and divide how much you’d need to save each month to get them. For example, if the tires you have your eye on will cost $750 total, and you can afford to set aside $125 per month, you could plan to buy them six months from now. Reminder: factor in taxes or shipping, if applicable, when setting your savings goal.
It’s not always possible to prepare for big expenses. However, looking ahead and anticipating future needs may help you avoid further delaying your purchase or using a credit card or loan to cover the cost, which could add to your bottom line with interest.
4. Revisit Your Debt Payoff Plan
It’s not unusual to have debt of some kind, such as an auto loan or student loan. However, if you have high-interest debt, it’s a good idea to evaluate your repayment plan to make sure you’re maximizing your progress toward payoff.
For example, are you making just the minimum payments on credit cards, or can you afford to pay more? Are you targeting your accounts with the highest interest rates or choosing accounts at random to pay down? Could you potentially refinance some of your debt and get a lower interest rate?
If you don’t already have a strategy for paying off your debt, now is a good time to create one. If you do have one, make sure it’s still serving your needs and helping you achieve your goals.
5. Maximize Tax Write-Offs
Personal tax season begins at the end of January each year, and you have until mid-April to file your annual tax return. However, personal tax returns are typically based on the previous calendar year, so you generally have until the end of December to potentially reduce how much you owe in the coming months.
Some of the ways you can maximize deductions and credits include:
- Increasing your contributions to your 401(k) or Traditional Individual Retirement Account (IRA). You can backdate contributions for the first few months of next year, but it’s easier to avoid waiting until the last minute.
- Setting aside money in a tax-advantaged account, like a Health Savings Account (HSA), if you’re eligible to contribute to one (you must have a high-deductible health plan)
- Making some improvements to your home office if you’re self-employed
- Tallying up your expenses for classroom supplies if you’re an eligible educator
- Making charitable contributions
It’s a good idea to consult with a tax professional to get an idea of which deductions you may be eligible for to determine what actions would most benefit you.
6. Use Online Banking Tools to Stay on Track
Managing the “little things” when it comes to your bank account can feel tedious—even more so for families managing multiple accounts or debit cards. That’s where online banking tools may be able to help, by giving you the option to transfer funds and review monthly budgeting. Plus, with tools like Debit Card Controls, SouthEast Bank customers can…
- activate new or replacement cards
- add cards to your digital wallet
- access digital card details
- turn cards and off
- receive real-time security alerts
- set up travel notifications
- and set spending limits by location, merchant type, or amount
…all from your phone, whether you’re at home, out running errands, or traveling to a new destination.
Money management can be less time consuming. Take advantage of your bank’s online tools to help you keep track of your spending in ways that make sense for you and your family.
Wherever You’re Headed in 2026, Make It a Happy New Year!
Preparing for the new year can feel exciting in some ways and daunting in others. Don’t fall into the trap of taking on too many financial resolutions at once, then folding under undue pressure. Instead, give yourself a head start by breaking down steps you want to take and focusing on each task one-by-one. The more time you invest in setting clear goals, understanding your spending patterns, and exploring opportunities to keep and grow what you have, the better off you’ll be!
SouthEast Bank is here to help meet you where are and guide you to where you want to be on your financial journey. Don’t hesitate to explore our account options and tools as you sit down with your finances to see what products and services may be a good fit for your next chapter.
Information contained in this blog is for educational and informational purposes only. Nothing contained in this blog should be construed as financial, legal or tax advice. An attorney, financial advisor, and/or tax advisor should be consulted for advice based on your circumstances.
Links to other websites or references to services or applications are provided as a convenience only. A link does not imply SouthEast Bank’s sponsorship or approval of any other site, service or application. SouthEast Bank does not control the content of these sites, services or applications.
