Getting Your Finances Back on Track

The holiday season often leaves wallets strained, but 2026 can start with financial recovery.

REVIEW SPENDING

First, assess your spending by reviewing bank and credit card statements to identify holiday overspending. Create a budget that prioritizes essentials, such as rent and utilities, while allocating funds to pay off high-interest debt, like credit cards, which averaged 20% interest in 2025.

TAKE ACTION

Cut discretionary expenses, such as dining out or subscriptions, temporarily to free up cash. Rebuild your emergency fund by aiming for 3–6 months' worth of expenses, setting aside small, consistent savings. Adjust tax withholdings using the IRS Tax Withholding Estimator to avoid surprises and optimize cash flow. If eligible, explore tax deductions (e.g., charitable donations) or credits to reduce your tax burden. Consider a side hustle to boost income and accelerate debt repayment.

Meet with your financial professional to refine your budget and investment strategy, ensuring that long-term goals, such as retirement savings, stay on track. Act promptly to regain control of your finances.