As you’re preparing your list of resolutions, taking inventory of your finances isn’t the most fun choice. But fresh off the holiday season where many US adults report money as the most common source of stress, assessing your financial picture and making the right adjustments can be the most rewarding choice for you and your family. Here is a checklist of seven key suggestions to make sure you start 2026 on the right foot.

Review Your Budget 

Using a customizable budgeting worksheet or free app, identify areas where you may be overspending and eliminate unnecessary costs or comparison shop wherever it’s possible. Budgeting isn’t about guilt, rather it is a way to ensure you’re saving a little each month (ideally 10% of your income).

Automate Savings 

Consider the “set it and forget it” approach to allocating savings so that when peak holiday spending season comes around again later this year, you’ve avoided (or at least minimized) high interest credit card balances that can put a damper on your seasonal celebrations. By directing a portion of each paycheck straight into a savings account or money market account, you build a cushion effortlessly and stay ahead of future expenses.

Strategize Debt Repayment  

Review the balances and interest rates of your credit cards, loans, and other debts. Try tackling high-interest loans first. If you can pay these off, you’ll save on interest payments in the long run. If you’re looking for a personal debt management program, you can ask a Bellco representative at one of our local branches for information about programs with our partners.

Check Your Credit Report 

Request a free copy of your credit report from AnnualCreditReport.com every year. Review the report for any inaccuracies or signs of identity theft. Dispute any errors you find, which could be a contributing factor to a lower credit score.  Increasing your credit score can help you by qualifying for lower interest rate loans in the future.

Revisit Investments 

If you have any investment accounts, assess whether your allocations still align with your short and long-term goals and risk tolerance. Market conditions often change, and your investment strategy should account for these fluctuations.   And remember, your goals may change over time, so account for these changes as well.

Maximize Retirement Contributions 

If you have a retirement account, check your contributions and see if you have any room in your budget to increase them. This especially applies if your employer offers matching contributions, as it’s essentially free money. The sooner you invest, the more time your money has to grow. As you get older, your contribution limits may increase, so double check all your maximum contribution limits every year and take advantage of these increases as they come.

Review Insurance Policies 

Ensure that your health, auto, home, and life insurance policies still meet your needs. You don’t want to let monthly charges continue if you’re not taking advantage of all the coverages you’re paying for. Life changes such as marriage, the birth of a child, or significant purchases might necessitate adjustments to your coverage or comparison shopping for more favorable rates.  

Get Connected 

If you want additional support, we’re happy to support new members here at Bellco Credit Union. Just visit us at our newly opened Colorado Springs East branch or reach out to a Bellco representative to learn more about joining Bellco. Plus, you can hear about the different financial resources we offer to all our members and get help finding the right plan for you. We want everyone to feel more confident with their finances in 2026!

BELLCO IS INSURED BY THE NCUA.  MEMBERSHIP ELIGIBILITY REQUIRED TO JOIN BELLCO.

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