New Year, New Money Habits

People often say they want to save more money when the calendar turns over. It’s a common wish, but saying it and doing it are two different things.

1. Pick the Right Moment

Right after the holiday spending rush, before tax season and big travel plans, is a sweet spot to tidy up your finances.

• Start by reviewing last year’s spending.
• Decide where you want the money to go in the months ahead.

2. Make Budgeting Easy

If budgeting feels foreign, try a smartphone app.
These tools:

• Pull recent transactions from bank accounts and credit cards.
• Sort them into categories automatically.
• Show you a realistic picture of your habits.

Popular choices: Copilot Money, YNAB, Quicken Simplifi.
Many apps will alert you when you’re nearing a set limit for categories such as dining or entertainment.

3. Maximize Your IRA Contributions

• 2026 limits:
• Under 50: up to $7,500.
• 50 or older: up to $8,600.

Even if you can’t max it out right away, start contributing now and add more later; you still have until the tax deadline to catch up on 2025 contributions.

4. Reassess Retirement & Special Savings

• Review accounts like a 529 plan or other employer‑sponsored plans.
• What worked in your twenties may not suit you at forty‑five.
• Use the tools offered by employer plans to adjust contributions based on your current income and retirement goals.