Achieving your financial resolutions in 2026

The new year signals a fresh start and, for many of us, that includes wanting to get a better handle on our money. The quieter weeks of January can be the perfect time to pause, reflect and put a few simple habits in place to help set yourself up for a calmer and more manageable financial year ahead.

This blog is intended as general information and not as financial advice. Please seek personalised advice from a registered financial planner to best suit your own individual circumstances.

We spoke with Silvia Pothoven, National Manager for Corporate Benefits at Gallagher – which partners with Bank Australia to offer staff access to financial wellbeing program MoneyFit – to gather some practical and realistic ideas to help get your finances in order for 2026. 

Start with self-compassion and kindness

Before diving headfirst into bank statements and budgeting spreadsheets, Silvia recommends starting with a mindset shift. 

Reviewing and tidying up your finances can feel daunting, so it’s important to approach this exercise with self-compassion and without judgement.

“Cost of living pressures are affecting everyday Australians,” Silvia says. 

It's normal to feel overwhelmed or frustrated, especially if your financial situation has changed or you’re getting used to new expenses like increased rent or changes in interest rates.

“Times do get tough, and often the biggest hurdle is giving yourself permission to acknowledge: ‘I’m in a really tough situation, and that’s okay for now’,” Silvia says.

“Once you can accept that, you can start looking for what to change.”

Make life admin a little more social

If you find it hard to carve out time for life admin, doing it alongside others can make the process feel more manageable.

Consider gathering a few friends for a side‑by‑side session, sitting around a dining table or on the couch with laptops or phones, and simply using the time to catch up on tasks you have been putting off.

At the start, everyone can jot down what they would like to focus on during the session.

This might include things like updating personal details, organising documents, checking account notifications, reviewing subscriptions or memberships, or tackling other general admin tasks you have been meaning to get to.

Setting a timer, playing some music and taking short breaks together can help keep things relaxed and on track.

Sometimes, just having company while you work is enough to beat procrastination and make progress on tasks that often feel overwhelming when done alone.

However, while working through tasks together can be helpful, it’s worth remembering that personal finances are personal, so it’s best to only discuss details with trusted friends and always seek advice specific to your situation from a qualified financial planner.

Review your last 3 months, not the next 12

While it can be tempting to dive straight into planning mode, Silvia believes the first step to tidying up your finances is really understanding where your money goes.

For that, she suggests looking backwards, not forwards.

“Look back on the three months that are the most expensive for you, which is usually the summer months,” she says.

“Then look at all of your accounts – savings, credit cards, offsets.

Categorise all of your spending in ways that make sense to you, things like fixed costs, groceries, entertainment and eating out.”

By doing this, most people uncover spending habits they weren’t fully aware of.

“People realise they’ve spent far more than they thought on certain categories,” she says.

“It gives you insight, and once you see it, you can address it.”

Understand your debts

Debt can feel stressful, especially when it impacts both peace of mind and cash flow.

Rather than jumping straight into decisions or solutions, Silvia encourages starting by simply understanding what you have and how it fits into your overall financial picture.

This can involve taking stock of different types of debt you may have, such as money owed on cards, loans or other arrangements, and recognising how repayment amounts and interest can affect your finances over time.

For many people, seeing everything laid out clearly can make the situation feel less overwhelming and help build confidence in having informed conversations about next steps.

Silvia notes that reducing debt can change the way money flows through a household budget over time, but what that looks like, and how it’s approached, varies widely depending on individual circumstances.

Because of this, decisions around managing or restructuring debt are best explored with a qualified financial professional who can take your full situation into account.

If debt is feeling overwhelming, it’s important to know that free, independent support is available. Services like the National Debt Helpline (1800 007 007) offer confidential information and support to help people understand their options.

And if financial stress is affecting your mental health, you’re not alone. You can contact Lifeline on 13 11 14, 24 hours a day, for crisis support and someone to talk to.

Review your 'set and forget' expenses

If you’re feeling the cost-of-living pinch, Silvia says one of the most effective ways to take back control of your finances is to regularly review the expenses we tend to forget about. 

This includes:

• Streaming services
• Utilities and internet
• Car, health and life insurance
• Subscriptions and memberships (like gyms, newspaper subscriptions and cultural memberships e.g. museums and the zoo.)

Silvia suggests reviewing everything annually.

“Markets change, companies compete for your business. Look at what’s available to you and use that to your advantage.”

Streamline your charitable giving

Many people want to contribute to causes they care about, even when money is tight.

To balance generosity and affordability, Silvia suggests treating this expense like any other: make a budget and stick to it.  

“There are so many charities now that are worthy of every dollar that sometimes you just want to donate to everything,” Silvia says.

“But if you don’t have much disposable income to give, it can get hard. It needs to be affordable for you.”

Silvia’s tip? Choose one or two charities that are meaningful to you for regular giving, then set a budget for ad hoc donations (like workplace fundraisers or supporting charity events).

She adds that smaller, regular gifts like monthly donations often work best for both the donor and charities.

“It’s easier on your hip pocket to spread it out, and it gives the charity a reliable stream of income.”

Brush up on any employer benefits

If you’re considering your salary, Silvia knows it can be tempting to go straight to applying for higher paying jobs – but this may not always be the answer.

“Sometimes leaving a job for another five or ten grand isn’t always greener on the other side,” she says. “Look at what support your employer already offers.” 

Some workplaces offer financial wellbeing programs (including Bank Australia, through Gallagher’s MoneyFit initiative) or other reward schemes like shopping discounts, savings on health-related memberships or education tools that can help relieve pressure without needing to switch jobs.

Plus speaking with your employer about internal career development opportunities, or a pathway to them, can end in a win-win for you and your workplace: they retain valuable team skills and knowledge and you make positive steps in your career.  

Set small, achievable savings goals

Whether you’re saving for a holiday, building an emergency fund or salary sacrificing into your super, Silvia suggests breaking your goal down into smaller chunks.

“Put a little bit in and get used to it, then increase and build from there,” Silvia says.

If your goal is building an emergency fund, Silvia recommends aiming for three months income (the typical waiting period on many income-protection insurance policies).

Most importantly, acknowledge your effort for doing this work, mapping out your financial goals and achieving outcomes as you go. “Celebrate when you hit milestones,” Silvia says.

“It helps you feel like you’re actually getting somewhere.”

This blog is intended as general information and not as financial advice. Please seek personalised advice from a registered financial planner to best suit your own individual circumstances.