Beat the Money Blues With This Easy Financial Check-In

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The new year is here, but Americans have mixed feelings when it comes to the state of their finances in 2026. One of the biggest concerns is the cost of goods and services.

According to NerdWallet's 2026 Consumer Outlook Report, 51% of respondents said they think the cost of goods and services will only get worse.

However, 35% say they're feeling optimistic and confident about their finances, while 57% say they're planning to make at least one potentially risky money move, such as investing in cryptocurrency or even starting their own business.

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Regardless of where you may fall in your journey to financial stability, taking the time to prepare for the year will pay off.

My year of financial prudence

Back in 2010, I was feeling the stress of a few financial choices my wife and I had made. We went against our better judgment and took on more debt than we normally do. I had just opened my own business and my income had dropped from prior years.

The stress this was putting us under was starting to get worse. It was then that my wife and I decided 2011 was going to be the year of financial prudence and together we made our plan of action.

About Adviser Intel

The author of this article is a participant in Kiplinger's Adviser Intel program, a curated network of trusted financial professionals who share expert insights on wealth building and preservation. Contributors, including fiduciary financial planners, wealth managers, CEOs and attorneys, provide actionable advice about retirement planning, estate planning, tax strategies and more. Experts are invited to contribute and do not pay to be included, so you can trust their advice is honest and valuable.

First, my wife and I decided that we were going to review our budget each month. Reviewing our budget on a monthly basis allowed us to better understand our cash flow, spending habits and areas of improvement.

We also decided we would eat out only once a week, use coupons and take local, less expensive vacations to cut costs.

As for debt management, every penny saved would be used to pay down our credit cards and car notes.

While these changes required us to alter our lifestyle a bit, 2011 was a great year. We set our goals and stuck to them.

As parents, we got a little pushback every now and then. Whenever my kids asked us if we could order takeout or go out for dinner, I would ask them if they wanted to pay.

Suddenly, eating at home sounded more appealing. It also gave us an opportunity to spend more quality time together.

Through these changes, we also found that we didn't overspend in other areas of our lives because we didn't want to hinder our hard work.

In the end, we were able to pay off our debt and grow our savings. It was like a complete financial reset.

Over to you …

If you're serious about improving your situation, understand that changes in your lifestyle will need to be made. To start, identify your long-term goals. Imagine what you want your life to look like in the next 10, 15 or 20 years. What would need to happen in order to get there?

Before you can start making changes, it's imperative that you understand your monthly income and where it's going.

One of the most effective ways to make a big impact is by tracking every penny you've spent for at least two months. This includes everything from getting a snack out of the vending machine at work to documenting your weekly grocery bill.

Pretty soon, you'll be able to decipher whether a purchase is a want or a need.

It's important to note that tracking your spending doesn't mean you have to cut out all the extras. Instead of spending $20 a week on coffee, you could limit yourself to spending $10. Then, you could put the extra $10 in savings, or toward another goal.

Your weekly financial check-in

It's a busy time of year, and reviewing your finances adds one more task to the to-do list, but it's necessary. Even just taking one hour week to do a financial check-in can make a difference.

Before the end of January, ask yourself the following:

Am I where I want to be financially?
What's triggering my financial stress?
What's going well with my finances and what can I do to continue that momentum in 2026?
What financial goals do I want to achieve in the next year?
What's one thing I can do now to help me reach my goals?

Your answers will point you in the right direction.

Disclaimer

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Branden is the owner of Steward Financial Services, where he helps clients plan for their financial future and addresses their many needs. He is proud to be a "Utah Man," graduating from the University of Utah with a degree in Finance. He has worked in the financial services industry for over 20 years. After learning more about what it means to be a Registered Investment Advisor (RIA), Branden knew that he wanted to start his own firm to more intimately serve his clients. This also motivated him to pursue his Accredited Investment Fiduciary® designation.