January Financial Reset: Where to Start?
The new year is a great time to reset and reflect. What are your 2026 goals? Do you have a primary focus? Financial matters feel overwhelming for many folks, so it’s no wonder that they tend to fall to the bottom of many priority lists, including the new year’s resolution season.
Where do you even begin!? How could you possibly dig your way out of debt, balance your budget, and/or feel confident about retiring someday?
Here’s what you need: A clear, actionable map to get on track with your finances.
Let’s start the new year with a shake of the Etch-a-Sketch! Last year is over; now let’s reset. I want you to feel empowered to take this on (and know that I’m here to help), so today’s guide provides a workable pathway of manageable, prioritized steps to help you restart your 2026 finances.
Step One: Gather Your Documents
Let’s start at the very beginning. Step one is to gain a clear picture of your circumstances, which we recommend you do with a financial advisor. Before you can plan where you’re going in the future, we have to know not only where you’ve been in the past, but where you stand today.
By gathering together all important financial documents, we can begin to find answers to questions such as: “Where do you have your retirement and investment accounts? What debts do you have? Do you have an emergency fund? What are your primary assets? What is your insurance coverage?”
This will bring clarity to your current situation, and from there, we can move ahead.
Step Two: Review All Accounts and Policies
After you’ve gathered the necessary documents, we’ll want to review them. Let’s get a clear picture of where accounts stand. Here’s where we’ll dig deeper into those earlier questions, asking questions such as: “What are your expenses every month? What are the interest rates and loan terms on your debts? Do you have any big expenses coming up? Do you have a target retirement date?”
This is also an ideal time to dig deeper into your insurance policies. Who are your beneficiaries? How much coverage do you have currently? What amount of coverage do you need? Let’s take a deep dive look at which policies you have and which ones you might need to add or improve.
Step Three: Evaluate Emergency Funds
Did the holiday spending go overboard? Do you have insurmountable debts? And most importantly, if something unexpected happened today, are you able to meet your needs financially? In other words, do you have an emergency fund?
This is one of the best early steps we can take: Creating (or improving) your emergency funds. Before you can feel stable moving forward, we want to be sure you have a safety net securely in place.
Step Four: Setting the Budget
You knew this was coming… the next step is to create a sensible budget. You need to know what comes in and what must go out each month!
There are absolutes, such as mortgage/rent, utilities, groceries, and retirement savings. But then there are those “wants” like going out to dinner, saving for a vacation, or extra activities for the kids.
Once we establish a budget, we can discuss tools to keep you on track. There are even apps for that!
Step Five: Sticking to the Plan
Once we have mapped out a path, it’s up to you to stay on the trail. However, you are never alone! Our team is available to help you with systems and check-ins.
One smart way to be sure things stay on track is to schedule an annual financial review. We will check in on that budget, your goals, where your investments and retirement plans stand, and see if any adjustments are necessary.
You can also use digital tools to help you track and even automate your financial matters. Here are some examples for simplifying your financial management:
Bills can be paid automatically online
Debt payoffs can be tracked with an app
Retirement contributions can increase automatically each year
Savings transfers can happen on payday, before you're tempted to spend
Calendar reminders can prompt you to review your bank account every month
But Wait! Before You Begin…
Just remember, this isn’t something you have to do alone. Finances can be difficult, and when you feel like you’re doing it all by yourself, it can be even worse. My team and I are here to lend a helping hand. No matter where you start, when you reset, or how you plan to move ahead, we can map it out together.