As 2025 comes to a close, it’s the perfect time to start thinking about organizing your finances for 2026. Doing so can help you assess your progress, identify areas where you can save money, and align your spending with your current values and goals. Read on for tips to improve your finances next year!
Assess your overall financial health and ... budget, budget, budget!
First, determine everything you typically spend in a month. Consider categorizing your expenses to identify patterns of behavior. A simple way to begin is to make broad categories, such as “food,” “mortgage (or rent),” “bills,” “fun money,” and “savings.” You can get more granular after this first pass. Go old-school with an Excel spreadsheet or take advantage of an app to crunch the numbers for you. The main thing is to get a snapshot of your spending habits and to identify where you can save money.
Create a savings plan
A good rule of thumb is the 50/30/20 rule, which is a straightforward budgeting guideline that splits after-tax income into the following categories: 50% for needs, 30% for wants, and 20% for savings and debt repayment (emergency funds, retirement, extra debt payments). The great thing about this rule is that it prioritizes your financial future. And it is flexible. If you are in a situation where you have unexpected expenses, you can adjust the category percentages, taking care to still use them as a rough guideline.
Automate your finances
Check on your retirement contributions; do you want to adjust them? Some financial advisors recommend making it a yearly habit to increase your contribution by 1-2% at the start of the year. Once you are happy with your contribution amount, you can set up automatic transfers to build your savings.
Think of other ways you can automate your money. Do you want to set up a recurring transfer from your paycheck into your savings account every month? Treat your re-allocated money as a non-negotiable bill – otherwise you might be tempted to spend it on something you don’t necessarily need.
Finally, schedule your bill payments for fixed costs like rent, utilities, car loans, student loans, and any subscriptions you may have.
Expand your financial knowledge
The more you know, the smarter your financial decisions will be! Financial literacy—debt management, budgeting, and investing—is crucial to making solid choices. Increase your knowledge by attending Nusenda workshops or webinars. You can also read through Nusenda's financial library and browse topics that range from budgeting to investing. Or check out our no-fee BALANCE Financial Fitness Program, which offers comprehensive financial education and unbiased counseling services.
Take advantage of programs that put cash back in your pocket. Earn Your Return and Community Rewards allow you to earn cash back and The Power of Change lets you round up your Nusenda Visa debit card purchases to the nearest dollar and use the change to boost your savings, pay down debt, or donate to your favorite cause!
At Nusenda Credit Union, we’re dedicated to improving our members’ financial well-being and supporting them through affordable products, friendly service, community involvement, and financial education. We'd love to find other ways to help you reach your goals. Stop by a branch or make an appointment to meet with us today. With these steps, you’ll be setting yourself up for a stress-free financial year!