Year-End Money Moves to Start 2026 Strong

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As another year wraps up, and we’ve attended the last concert of the year (Trans-siberian Orchestra is Metal!) We are all also getting ready to celebrate the holidays and get together with friends and family for food, fun, and togetherness. But the end of the year isn’t just about eggnog and awkward office parties. It’s also a perfect time to review your finances, see how things have been going with your money, and get ready for a strong start to 2026.

Look, personal finance isn’t just about saving money. It’s also about planning, setting goals, and making smart decisions that will help you in the long run. I know it’s hard it can be to think ahead, sometimes years or decades in the future! Whether you want to save more, pay off debt, or invest in the future, here are some financial moves we can make as 2025 comes to a close and the mic drops on the gig that was 2025. Let’s do what we can to set ourselves up for success in the new year.

Review Your Financial Goals

The end of the year is the perfect time to check in and see how you’ve done with your financial goals. How did your earning go this year? Did you get a raise or earn bonuses or commissions? What are you doing with that extra cash? (are you blowing it on a pointy guitar or more band merch?!) Did you save as much as you planned? Maybe you used it to pay down debt. Did you continue to invest wisely?

Here are some action steps to help you out:

• Track Your Progress: Compare your actual financial performance against your goals for savings, paying down debt, and investments. Were you saving for that vacation, that music festival, or that pointy guitar? Let’s track our progress to get there.

• Adjust Your Goals: If you didn’t do as well as you hoped, figure out what went wrong and adjust your goals for next year. If you did better than you thought, think about how you can make them even better. It’s totally okay to modify or adjust our goals along the way.

• Set SMART Goals: For 2026, try making your goals realistic by using SMART goals. By making your financial goals Specific, Measurable, Achievable, Relevant, and Time-bound, it helps you actually achieve them instead of just hoping for the best.

Maximize Tax-Advantaged Contributions

As the year wraps up, this is your last chance to make the most of those tax-advantaged accounts like 401(k)s, IRAs, and Health Savings Accounts (HSAs). These contributions can lower your taxable income and help you build a solid retirement nest egg.

Here are some action steps to help you out:

• 401(k) Contributions: Make sure you’re contributing enough to get the full employer match. Seriously, if you’re not doing this, you’re leaving free money on the table. For 2025, the contribution limit is $23,500, with an extra $7,500 catch-up contribution for those over 50. And if you’re between 60 and 63, you get a super catch-up of $11,250.

• IRA Contributions: Think about maxing out your IRA contributions. For 2025, that’s $7,000, or $8,000 if you’re over 50. Traditional IRAs might also be tax-deductible depending on your income and whether you have a retirement plan at work.

• HSA Contributions: If you have a high-deductible health plan, make the most of your HSA contributions. For 2025, that’s $4,300 for individuals and $8,550 for families. HSAs offer a triple tax advantage that’s pretty sweet. Contributions are tax-deductible, growth is tax-free, and withdrawals for qualified medical expenses are also tax-free. If you’re 55 or older, you can throw in an extra $1,000 catch-up contribution.

Conduct a Year-End Budget Review

Now, let’s talk about budgeting. Take a close look at your spending for the year and see where your money actually went. This will help you make better financial decisions in the future. Trust me, some of you might be shocked when you see how much you spent on DoorDash or coffee runs.

Here are some steps to help you out:

• Analyze Spending Habits: Whether you’re using paper and pen or online tools, apps like YNAB, or spreadsheets like Excel, review your expenses for the year. Look at everything. And I mean everything.

• Identify Savings Opportunities: Look for areas where you overspent and places where you can cut costs next year. For example, if eating out was a big expense (this was definitely mine), try meal planning to save money. Or if you’ve got seventeen streaming services you barely use, maybe it’s time to cut a few.

• Refine Your Budget: Make a budget for 2026 that matches your financial goals and priorities. Be realistic about it. Don’t budget like you’re going to become a different person overnight who never buys coffee or goes out with friends.

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