Smart Money Moves Savers Should Make in 2026

Savers face an uncertain future. The Federal Reserve has already cut rates twice, which has lowered the yields on many savings accounts and CDs.

Furthermore, President Donald Trump is expected to appoint a new head of the Federal Reserve by the end of the year. Trump wants more aggressive rate cuts to pay down debt and save money; whoever takes the helm will likely advocate for further cuts in 2026 if they can persuade other voting members to follow suit.

As a result, the unclear situation calls for clarity for savers. Here are three smart money moves to consider now to help you reach your goals in 2026 and beyond.

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Ensure you're on the road to your retirement goals

two people consulting on retirement plans at a kitchen table

Setting up a retirement plan is only half the game. You'll also want to check in periodically to see if it's continuing to help you reach your goals.

If you're working and have a 401(k) from your employer, review it annually. Ensure you have the maximum contribution you feel comfortable with, and the performance aligns with your goals and risk profile. If they don't, you can adjust contribution levels or reallocate your investments.

For investors without a 401(k), you'll want to explore long-term investing options that offer healthy returns at an acceptable risk. If you have at least several years before your expected retirement, you're more likely to get better returns through the stock market than traditional savings accounts. (But keep tax implications in mind, as your own investments are treated differently from 401(k) plans.)

This is where a target-date fund comes in. These funds are built for saving for retirement, and they do the work for you to target the growth you want.

Finally, if you're saving for retirement, you should make sure you're keeping up with an IRA. For 2026, you can contribute up to $7,500, which helps you reach your retirement goals and is a tax-smart planning strategy. It can help to plan ahead to make that contribution, whether that means setting aside a certain amount each month or planning to use a year-end bonus for your contribution.

Build, maintain and protect your emergency savings

a picture of a gold piggy bank under an umbrella

Building an emergency fund ensures you're prepared for surprise expenses or can weather a job loss. The best option for achieving this is with a high-yield savings account.

If you're working, you can set up automatic transfers from your checking account to your high-yield savings account on payday, or set your paycheck to direct deposit a certain amount each round into a high-yield savings account. I recommend setting aside at least 10% each check, but aim to do more if possible until you have an emergency fund that covers about six months of expenses.

Meanwhile, if you already have an emergency fund at a comfortable balance, it's a good idea to review your account. Ensure the amount you've accrued still meets your needs, and you're earning a healthy rate of return. If not, it doesn't hurt to shop around, as many online banks can help you maximize your earnings.

Read more: Best High-Yield Savings Accounts

There are several things to consider with HYSAs. Chief among them is that these accounts have variable interest rates. If the Fed cuts rates again in the future, it could impact your earnings through lower APYs. But generally speaking, even with the cuts, HYSAs still provide returns higher than inflation.

Additionally, any income earned from a HYSA is taxable as ordinary income and based on your federal tax income bracket. At the end of the year, your bank sends you Form 1099-INT, which you can file with your tax return. Don't let the tax implications deter you, though, as you're only paying taxes on the interest gained.

Shield your savings for a specific goal

a picture of a man in a black suit holding his hands to shelter a piggy bank

If you're saving for a large expense coming at an expected time — like a scheduled vacation or the birth of a child — set funds aside and find a savings vehicle that grows. In these cases, I recommend CDs, as you can find a term that matches your plans.

Say you're saving to help pay for your child's wedding in 2027. You can open a one-year CD now to earmark money for it. Just make sure to set a reminder as the maturity date nears, as many banks autorenew CDs.

CDs are also beneficial in that once you open one, the rate remains fixed. So if the Fed cuts rates again, it won't impact your earnings. You can find the best CD rates that fit your savings goal with this Bankrate tool:

If you're concerned about tying up your money but like the fixed rates CDs offer, another approach could be to use a no-penalty CD. No-penalty CDs give you the best of both worlds in that you lock in your rate like you would with a regular CD, but you have access to your cash when you need it.

This option works best if you have short-term goals, such as saving for a vacation next summer, and require quicker access to your money.

Charting a course for a successful 2026

The best time to plan for next year is now. Doing so helps you set any financial priorities and goals you want to achieve. From here, you can use these strategies to help you reach your goals, even with the uncertainty 2026 might bring to savers and investors.

Sean is a veteran personal finance writer, with over 10 years of experience. He's written finance guides on insurance, savings, travel and more for CNET, Bankrate and GOBankingRates.