Congratulations on making it to 2026! The beginning of a new year is your chance to reset your financial habits. While resolutions often fade by February, implementing a few strategic money moves now can create lasting benefits throughout the year.

​

Audit Your Subscriptions and Recurring Expenses

​

Start by reviewing every subscription and automatic payment hitting your accounts. That streaming service you forgot about or the gym membership you haven’t used in months could be costing you hundreds annually.

​

Boost Your Emergency Fund

​

If 2025 taught us anything, it’s that unexpected expenses always find a way to appear. Aim to build or replenish your emergency fund to cover three to six months of essential expenses. Even setting aside an extra $50-100 per paycheck can make a significant difference. Try automating these transfers so the money moves before you’re tempted to spend it.

​

Maximize Your Retirement Contributions

​

With a fresh year ahead, now’s the time to increase your 401(k) or IRA contributions, even by just one or two percent. Thanks to compound interest, even small increases may have big impacts if you start early. For 2026, IRA and 401(k) contribution limits have increased, so take advantage of the additional room if your budget allows.

​

Review and Rebalance Your Investment Portfolio

​

Market fluctuations throughout the previous year may have shifted your asset allocation away from your target. Rebalancing is a strategy that can ensure your portfolio maintains the risk level appropriate for your goals and timeline. This process involves selling assets that have grown beyond their target price and reinvesting in those that have decreased, helping manage overall portfolio risk.

​

Tackle High-Interest Debt Strategically

​

Credit card debt is particularly costly, carrying interest rates that can often exceed 20%. Create a payoff plan using either the avalanche method (targeting highest interest rates first) or the snowball method (paying off smallest balances first for psychological wins).

​

Update Your Financial Goals

​

Finally, revisit your short and long-term financial objectives. Keep the list as short as possible, so you aren’t spread too thin. Whether you’re saving for a home, planning a major purchase, or working toward financial independence, write down specific, measurable goals with realistic timelines. Breaking a larger goal into monthly milestones makes them feel more achievable and keeps you motivated.

​

Work With A Professional

Starting the year with intentional financial decisions doesn’t have to be done alone. Contact me, Dan Rhoads, and we’ll discuss your options - (484) 460-3922.

Dan Rhoads’s Investment advisory and financial planning services are offered through Simplicity Wealth, LLC, an SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm, nor does it indicate that the adviser has attained a particular level of skill or ability. Insurance, Consulting and Education services offered through Dan Rhoads Health & Wealth. Dan Rhoads Health & Wealth is a separate and unaffiliated entity from Simplicity Wealth. 

​

This information is provided as general information and is not intended to be specific financial guidance. Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.