February! Budgeting should always be the centerpiece of your financial resolutions!
Did you make a New Year’s resolution about seven weeks ago? Many Americans are making the resolution to adopt healthy habits concerning their bodies, minds, and finances.
As the following Statista Survey shows, out of all US participants who said they were making one or several New Year’s resolutions, 46% wanted to save more money and 48% wanted to exercise more, while 45% planned to eat healthier in 2026. More popular resolutions for the upcoming year also circled improving one’s health, with weight loss, spending more time with family and friends, and reducing stress on the job among the favorite answers.
If you are among the vast majority who want to save more money, then it might be time to get your overall finances in order. While it’s true that the stock market has recently reached new record highs, there is always more we can do to better the financial picture for ourselves and our families. There is every reason to make 2026 your year to accomplish what you set out to do.
Create a Budget
The centerpiece of any financial resolution – including saving more money – is to create a budget for the entire year. This isn’t as daunting as it sounds. Decide with your partner and family members what the big expenses are for 2026. Will you need to buy a new car? Take a vacation? Fix the roof or replace the air conditioner?
By planning and setting aside money in advance, these expenses don’t hit your pocketbook as hard as they would if there were no plan. A family budget is a great learning opportunity for kids, as well.
Don’t allow mistakes you made in the last 12 months to affect your goals for the coming year. Allow yourself to wipe the slate clean mentally. Use previous stumbling blocks as your new goals for 2026. Perhaps you had trouble with credit card debt, stress at work, or gained a few extra pounds. Involve those challenges in your New Year’s plan. Set up a timeline for paying off debt, schedule time to de-stress and get away from the office, meet with a personal trainer, or create a fitness plan that will work best for you.
Don’t forget to write down what you want to achieve and place it somewhere you see it each day. If nothing reminds you of your goals, then it becomes much more challenging to attain them!
"February is a Great Time to Revisit Resolutions." FMeX. 2024
