As the year comes to a close, it’s the perfect opportunity to perform a financial reset and prepare for a successful new year 🎉. In this guide, we’ll break down six essential steps you must take before 2026 comes knocking.
First up, carry out a ‘money wrap’, similar to the Spotify wrap that summarizes your year. By analyzing your income, expenses, and surplus or deficit for the year, you gain insights into your financial habits. This exercise not only reveals spending patterns but also helps in identifying emotional spending triggers.
Next, it’s crucial to create an automated money system. Set up standing orders for savings or investments right after payday, so you’re saving before you spend. This simple change can lead to greater financial stability in the long run.
Additionally, remove any friction in your financial management. This can mean keeping separate accounts for your emergency fund to avoid dipping into it or linking your investment account for easy transfers. Unsubscribing from promotional emails can also help mitigate impulsive spending.
Another key aspect is to create a money dashboard. This can be a simple Notion template or spreadsheet that gives you a comprehensive view of your finances at a glance.
For more resources and tools you need, check out these links:
Learn for free on Brilliant for 30 days and get 20% off an annual subscription here:
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Compare offers for savings and credit options in the US here:
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Check out the Intentional Spending Tracker, which is free:
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By Nischa