Financial advisors recommend seven targeted money resolutions for 2026, including boosting emergency savings to $10,000, paying off $5,000 in high-interest debt, and increasing retirement contributions by 5%. These steps aim to improve long-term financial stability.
- Build an emergency fund of $10,000 to cover six months of living expenses
- Eliminate $5,000 in high-interest debt within 12 months
- Increase retirement contributions by 5% annually starting with a 2% raise
- Automate 10% of income toward savings and investments
- Review insurance policies annually for coverage gaps
- Use budgeting tools to track spending and adjust behavior monthly
As the new year approaches, financial experts are highlighting actionable resolutions to help individuals regain control of their finances. Rather than vague goals like 'spend less,' advisors emphasize specific, measurable targets backed by behavioral research. These include building a six-month emergency fund, targeting $10,000 in savings for unforeseen expenses, and eliminating $5,000 in credit card or personal loan debt within 12 months. The core idea behind these resolutions is consistency and accountability. Experts note that setting a clear dollar amount and timeline increases the likelihood of success. For instance, increasing 401(k) or IRA contributions by 5% annually—starting with a 2% raise—can compound significantly over time. A 35-year-old saving $500 monthly with a 7% annual return could accumulate over $1 million by retirement, assuming consistent contributions. Other recommended actions include reviewing insurance coverage annually, automating 10% of income toward savings and investments, and creating a monthly budget using digital tools. The advice also underscores the importance of tracking progress through apps or spreadsheets, with 73% of individuals who track spending regularly reporting improved financial confidence, according to recent consumer surveys. These resolutions primarily affect individual household financial health rather than broader market dynamics. However, widespread adoption could lead to higher savings rates and reduced consumer debt, which may indirectly influence lending trends and consumer spending patterns in the coming year.