10 Financial Tips for a Better 2026

1. Set Clear Financial Goals

Starting the new year with well-defined financial objectives helps guide decision-making and aligns with your financial capacity. According to J.P. Morgan Private Bank, goal-based planning enables more directed financial management.

2. Review Tax Changes

Checking for new tax regulations at year-end is crucial as it helps understand potential impacts on your financial situation. Consulting with a tax advisor can provide early insights into necessary adjustments.

3. Request 2025 Tax Projections

Obtaining a proforma tax return from your accountant can help predict tax liabilities before year-end. This projection is useful for deciding whether to accelerate or defer certain income or expenses.

4. Implement Tax-Loss Harvesting

This strategy involves selling loss-making investments to offset taxable gains from other investments. When done correctly, it can reduce tax burdens while maintaining portfolio balance.

5. Maintain Adequate Cash Reserves

Keeping sufficient liquidity is essential for daily needs, unexpected expenses, and new opportunities. Adequate cash reserves provide financial security during economic fluctuations.

6. Review Expenses and Debt

As suggested by Onedigital, reviewing the past year's spending helps identify areas of waste or increasing debt. Creating an improvement plan for 2026 can lead to better financial management.

7-10 Additional Strategies

While the article focuses on six key strategies, other important financial planning aspects include reviewing investment portfolios, considering retirement planning, and staying informed about economic trends that may affect personal finances in 2026.