Making a money-related New Year’s resolution? Here’s some tips
Dec 29, 2025, 6:09 PM | Updated: Dec 30, 2025, 7:38 am
FILE - Credit cards as seen July 1, 2021, in Orlando, Fla. (AP Photo/John Raoux, File)
(AP Photo/John Raoux, File)
SALT LAKE CITY — It’s time to make your New Year’s resolutions, and many of us will make ones about money. WalletHub says more than one in four Americans are looking to make financial goals for 2026.
Chip Lupo, a writer and analyst for WalletHub, shared some insight about some of the top resolutions he recommends.
“Now, there’s some factors at play here because half of Americans say that inflation is the biggest financial concern for 2026,” Lupo said. “So, when you’re making your financial New Year’s resolutions, external factors like inflation unemployment rates kind of tend to throw a monkey wrench into that.”
Lupo said that can make planning a resolution a little more difficult. However, Americans seem to be optimistic: More than half of people say that 2026 will be better for their wallet than 2025 was, Lupo said.
“Now, that basically all depends on your perspective. If you were shopping for gas or groceries, depending on what state you’re in, you’re probably finding things that are a little bit more affordable,” Lupo said. “Now on the flip side, if you’re in the market for a new home or a new vehicle, you’re probably going to find out just, ‘this is not going to be good for our wallet in 2026.'”
So what kind of resolutions can you make to set yourself up for success? Lupo said staying simple and realistic is a good start.
“Too many people, when they make their New Year’s resolutions for whatever the purpose, they keep it vague. It’s just like, ‘oh, well, I want to save more.’ Set a target number,” he said.
Lupo said it’s important not to set your expectations out of reach, because that could discourage you from sticking to your goal.
Another important consideration is to keep your budget up with the times — don’t rehash an old budget from five years ago, because spending has changed considerably.
“A lot of people have budgets that are still based on pre-COVID spending. That’s unrealistic,” Lupo said. “So you do have to adjust your budget based on income and, of course, based on how much your expenses are, which in a lot of cases are going up in a lot of areas.”
Lupo also recommended eliminating unnecessary spending, reviewing financial accounts and working on paying off debt, starting with high-interest debt.
Contributing: Heather Peterson, KSL
