Tackle high-interest debt
If credit card balances carried over from last year, prioritize paying them down. Even small extra payments reduce interest charges and free up cash for your goals. Got a holiday bonus? Apply a portion toward your balance while keeping some for savings or emergencies. Every dollar you pay now saves you money later.Review your insurance coverage
Life changes—like moving or adding a family member—can affect your insurance needs. Take time to review your auto, home, renters, and life policies. Compare quotes from at least two providers to ensure you’re getting the right coverage at the best price. Conducting an annual insurance checkup ensures you’re not overpaying for outdated coverage or missing out on discounts.Refresh your budget
Start the year by reviewing recent bank and credit card statements. Look for patterns in spending—streaming services, takeout, forgotten subscriptions—and decide where to cut back. Redirect those dollars toward what matters most, whether it’s a summer vacation, a new couch, or building your emergency fund.Check your credit report
Errors on your credit report can hurt your score and cost you better loan rates. HawaiiUSA members with Digital Banking can access their credit report and score at no cost, and benefit from free credit monitoring through My Credit Score. Another great resource is annualcreditreport.com to review your report and dispute inaccuracies. A clean report now can make a big difference if you plan to apply for a mortgage or car loan this year.Cancel unused subscriptions
Unused memberships and apps quietly drain your account. Cancel what you don’t use to free up cash for savings or debt repayment. A quick audit now can save you hundreds over the year. Eliminating recurring charges, you no longer need is one of the simplest ways to instantly boost your monthly savings.Set clear financial goals
Instead of vague resolutions like “save more,” set specific targets:- “Save $3,000 for an emergency fund by June.”
- “Pay off my credit card by March.”
- “Increase my 401(k) contribution by 2%.”
Ready to make 2026 your best financial year yet? Connect with a Financial coach for personalized guidance and support.
