New Year, Smarter Habits: Top 5 Financial Resolutions for 2026

The new year is a great time for fresh starts. While many people focus on health resolutions, it's also the perfect opportunity to give your finances a tune-up. At Common Trust FCU, we believe smarter financial habits are the key to a more secure future. Here are our top five financial resolutions for 2026 to help you start the year off strong.

1. Create a Realistic Budget

A budget isn't about restricting yourself; it's about gaining control. Take a close look at your income and expenses, then create a realistic spending plan. The 50/30/20 rule is a great starting point: 50% for needs, 30% for wants, and 20% for savings and debt.

2. Build Your Emergency Fund

Life is full of unexpected events. An emergency fund acts as a safety net, so you don't have to go into debt when the unforeseen happens. Start with a goal to save at least $500 to $1,000, then work toward saving 3 to 6 months of living expenses.

3. Tackle High-Interest Debt

High-interest debt can be a major obstacle to financial freedom. Make 2026 the year you develop a plan to pay it down. The debt avalanche (highest-interest first) and debt snowball (smallest balance first) are both effective strategies. You could also consider a debt consolidation loan from Common Trust FCU to simplify your payments.

4. Plan for the Future

It's never too early to start saving for retirement and other long-term goals. Check your retirement accounts, and if possible, increase your contributions by just one percent. Small, consistent increases can make a huge difference over time.

5. Improve Your Financial Knowledge

Knowledge is power. The more you understand your money, the more confident you'll feel in your financial decisions. Read financial blogs, attend workshops, and remember that our friendly staff at Common Trust FCU is always here to provide guidance.

Setting these five resolutions can help you build a stronger financial foundation in 2026. Remember, resolutions are about progress, not perfection. Take it one step at a time, celebrate your small victories, and know that Common Trust FCU is here to support you on your journey.

Happy New Year from the Common Trust FCU family!