New Year Financial Planning Checklist

A new year is the perfect time to reset your finances and build healthy money habits. Whether your goal is to save more, reduce debt, or simply feel more confident about your financial future, having a clear plan can truly make all the difference.

Use this New Year financial planning checklist to set realistic goals, stay organized, and make the most of your credit union membership all year long.

1. Review Last Year’s Finances

Before setting new goals, it's important to take a look at where your money went last year. Reviewing your finances helps you spot patterns, recognize progress, and identify areas for improvement.

Ask yourself:

  • Did I stick to my budget?

  • Was I able to save consistently?

  • Did unexpected expenses come up?

How we can help:
Check your account statements through mobile or online banking to review spending categories and track where your money went throughout the year.

2. Set Financial Goals for the New Year

Once you understand your spending habits, it’s time to set goals for the new year ahead. Clear, realistic goals give your financial plan direction and purpose.

Instead of broad goals like “save more,” try setting specific and measurable targets, such as saving for an emergency fund or paying down a specific debt.

How we can help:
Our financial education resources and member support tools can help you turn big goals into manageable steps you can track all year long.

3. Create or Update Your Budget

A budget is the foundation of any solid financial plan. Whether you’re creating one for the first time or adjusting an existing budget, the new year is a great opportunity to align your spending with your goals.

Be sure to account for fixed expenses, variable spending, and monthly savings.

How we can help:
Utilize our digital resources to create a budget that fits your lifestyle, and continue to track it daily through our mobile banking app.

4. Build or Strengthen Your Emergency Fund

An emergency fund can provide peace of mind when unexpected expenses arise. Even small, consistent contributions can make a big difference over time.

If building a full emergency fund feels overwhelming, start with a smaller goal and work your way up.

How we can help:
Open a savings account that fits your personal saving goals, like a rainy day savings for those little moments or a high-yield savings that allows you grow your money risk-free!

5. Make a Plan to Tackle Debt

Managing debt is an important part of financial wellness. Start by listing your balances, interest rates, and monthly payments so you have a clear picture of what you owe.

Then, choose a strategy, like focusing on the highest interest rate or the smallest balance, so you can stay motivated and organized.

How we can help:
Our loan offerings can help simplify payments or reduce interest, depending on your situation. Reach out to our team to explore the best options for you.

6. Review Your Credit

Your credit score plays a key role in your financial life, from loan approvals to interest rates. Reviewing your credit regularly helps you catch errors and understand what’s impacting your score.

The start of the year is a great time to check in and make a plan to improve or maintain healthy credit habits.

How we can help:
Review your credit score for free in our mobile apple. Our team is always happy to help you understand your credit and offer tips for strengthening it over time.

Start the New Year with Confidence

A strong financial plan doesn’t happen overnight, but small, consistent steps can lead to big results. By following this checklist, you’ll be better prepared to handle challenges, reach your goals, and build a brighter financial future.