New Year, New Money Habits
USASat Feb 07 2026
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People often say they want to save more money when the calendar turns over. It’s a common wish, but saying it and doing it are two different things.
Right after the holiday spending rush, before tax season and big travel plans, is a sweet spot to tidy up your finances. Start by looking at what you spent last year and decide where you want the money to go in the months ahead.
If budgeting feels foreign, try a smartphone app. These tools pull your recent transactions from bank accounts and credit cards, sort them into categories automatically, and show you a realistic picture of your habits. Apps like Copilot Money, YNAB, or Quicken Simplifi can also alert you when you’re nearing a set limit for categories such as dining or entertainment.
Next, think about your IRA. For 2026 you can contribute up to $7, 500 if you’re under 50 or $8, 600 if you’re older. Even if you can’t max it out right away, start contributing now and add more later; you still have until the tax deadline to catch up on 2025 contributions.
Review any retirement or special savings accounts you have—like a 529 plan. What worked when you were in your twenties might not suit you at forty‑five. Use the tools offered by employer plans to adjust contributions based on your current income and retirement goals.
Check your credit report from Equifax, Experian, or TransUnion. A free copy is available once a week at AnnualCreditReport. com. Look for mistakes or unfamiliar accounts, which could signal identity theft. If you’re worried about fraud, a credit freeze stops new creditors from opening accounts in your name—but it also blocks legitimate applications until you lift the freeze.
Your credit score, separate from the report, tells lenders how likely you are to repay. Free tools like WalletHub give a score, explain the factors that affect it, and even simulate how different actions might change your number. This can be especially useful for young people building credit or anyone planning to apply for a mortgage.
Finally, log into SSA. gov once a year to verify your Social Security statement. Confirm that the earnings listed match your tax returns, because this data determines how much you’ll receive when you retire. The statement also shows estimated monthly benefits at various retirement ages, helping you decide the best time to start drawing.
Doing these checks and adjustments can turn a vague resolution into real progress toward financial health.
