New Year’s resolutions often address the parts of our lives we’re desperate to improve — our diet, our health, our endless scrolling.

So should we skip over our finances if there’s nothing all that wrong?

No way. Whether you’re struggling or thriving, a single conscious change always beats a bunch of good but vague intentions. And a smart money move now can pay dividends for years.

All you need is a specific goal to work toward. Here are five ideas to get the juices flowing.

✅ Pick one thing to save for

People tend to save "in general." But that's kind of like working out "to get healthier." This year, focus on a specific goal, setting a dollar amount and timeline to keep you motivated.

If you don’t already have an emergency savings, pick that. This money will be your safety net if life throws you a curveball (job loss, major repair, health crisis). Commit to saving enough to cover three to six months’ worth of essential living expenses (rent, utilities, food, etc.) by a certain deadline.

If you’ve got an emergency savings covering six months’ worth of expenses, target another goal. Need another $10,000 for a down payment on a house by this time next year? That's $833 a month. Want to take a $4,000 vacation this fall? That's $444 a month, starting now.

To make it happen:

1. Use a free spending tracker to tally your basic monthly expenses. (SoFi has Relay.)

2. Multiply that number by 3 and then divide by 12. Can you realistically save that much each month this year? If not, divide by a bigger number (like 18 or 24) to extend your timeline into 2027.

OR

1. Use SoFi’s Sinking Fund Calculator to reverse-engineer a monthly number for another savings goal.

2. Add each month’s contribution to a high-yield savings account to earn a little extra. Keep the money separated. A SoFi Vault is good for this.

Additional resources:

•   How Sinking Funds Can Lift Revenge Savers

•   How To Build an Emergency Fund in 6 Steps

•   Is $5,000 Enough for An Emergency Fund?

✅ Attack one recurring bill

The average American estimates they waste more than $200 a year on subscriptions they don't use, according to a CNET survey. (No judgment — we live in the recurring charge era.) And then there are the bills you keep meaning to call about — or shop around for: car insurance, internet, phone plans. Sometimes one phone call can save you hundreds a year.

To make it happen:

1. Find the recurring charges on your last three bank statements. (Or just scroll to the ‘recurring activity’ on your SoFi Relay spending dashboard.)

2. Cancel any subs or memberships you don’t use.

3. Zero in on a utility, phone plan, or insurance premium that has gone up this past year, and carve out a half hour to call the provider. Maybe you’re paying for unlimited data but using only a fraction. Or you might be eligible for a new promotion or bundling discount. (Be polite, but if you’re not getting anywhere, it never hurts to ask for a manager because you’re “thinking of cancelling.”)

4. If you’ve trying to lower the cost of insurance, an independent agent or online platform can make it easier to shop around. (You can compare quotes for home, auto and life insurance on the SoFi app.)

Additional Resources:

•   Do You Know What You’re Spending on Subscriptions?

•   Are Internet and Cable Busting Your Budget? Take Control

•   As Home Insurance Rates Rise, When and How to Shop Around

•   We Spend Hundreds on Food We Throw Out. How to Cut Waste

•   A Surprisingly Easy Way to Take the Bite Out of Big Bills

✅ Pay down one “bad” debt

A mortgage with a 6.5% interest rate is very different from a credit card charging you a 24.99% APR. One builds equity in an appreciating asset. The other gets you nowhere fast.

That’s why paying off a high-interest credit card balance is one of the best ways to improve your financial situation. When interest compounds daily, it literally costs you more with each passing day. And if you’re paying only the monthly minimum, the hole just gets deeper.

To make it happen:

1. List your debts by interest rate.

2. Pick the one with the highest rate.

3. Commit to paying it down with all your 2026 “found” money — including tax refunds, credit card cash-back rewards, and that $200 birthday check from your aunt.

Additional Resources:

•   Are You Stuck on a Credit Card Treadmill?

•   Is Credit Card Debt Sabotaging Your Retirement?

•   Beginners Guide to Good and Bad Debt

•   Debt Avalanche Method: A Smart Strategy for Paying Off Debt

•   Debt Consolidation Calculator

✅ Max out one tax-advantaged account

Tax-advantaged accounts — 401(k)s, IRAs, Health Savings Accounts (HSA) — offer more than a tax break. They harness the power of compound growth.

If you max out a traditional IRA, contributing the entire $7,500 you’re allowed for 2026, it has the opportunity to grow tax-free for decades — and, depending on your tax bracket, could save you $1,000+ in taxes this year.

To make it happen:

1. If you don’t already have a tax-advantaged account, open one. (A 401(k) is the best place to start if your employer offers matching contributions.)

2. If you already have one, check your contribution rate. If you're at 6% of salary, can you bump it to 8% or 10%? For 401(k)s, use Finra’s Save the Max calculator to see how much you’d need to carve out from each paycheck to reach this year’s $24,500 limit.

3. If you're already maxing out one account, target another.

Additional Resources:

•   Generation Roth: Why Young Savers Love These IRAs

•   Don’t Have Access to a 401(k)? How to BYO Retirement Savings

•   Leaving a Job? Think Twice Before Cashing Out Your 401(k)

•   The Stealth Retirement Account You Should Know About

•   Benefits of Using a Health Savings Account (HSA)

✅ Save half of a raise

A raise can feel like a windfall — and quickly get absorbed by lifestyle inflation.

The counter-move? Add half of it to a retirement savings or other type of investment account. That way you’re not depriving yourself of the fruits of your labor, but future-you gets a raise, too.

To make it happen:

1. As soon as you get your raise, increase the automatic contribution to your investment account. Do it before the money even hits your paycheck so you’ll never “miss” what you’re saving. (If you get a 4% raise, bump your contribution from 6% to 8%.)

2. Then celebrate with dinner out, a new gadget, or a weekend away.

Additional Resources:

•   5 Ways to Milk Your Year-End Bonus

•   Do You Have Too Much Cash in Your Bank Account?

•   What Is Automated Investing?

•   The Risk of Not Investing Enough: Gauging Your Cash Holdings

•   You Don’t Have to Be Jim Cramer to Start Investing

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