Prepare Your Finances for 2026

Plan for additional savings opportunities. You may have predictable opportunities to save more money, such as when you receive an annual bonus, tax refund, or birthday gifts. Start planning now for how you can maximize those windfalls to save more for the future.

Pay down or refinance existing debt. Whether it’s a mortgage, auto loan, or credit card, if you have current debt at a high interest rate, 2026 may be a good time to consolidate it at a lower rate. For example, consider transferring a high-interest credit card balance to a new card with a zero-interest promotional rate or keep an eye on mortgage rates and determine how much you might save over time by refinancing to a lower rate.

Open a CD for locked-in rate. If you want to make sure you keep the same interest rate for your savings regardless of what happens in the wider economy, consider moving some of your savings into a Certificate of Deposit (CD). In exchange for locking in your savings for an agreed-upon term, such as nine months or one year, a CD will provide a fixed interest rate throughout the term.

Build your emergency fund. A well-funded emergency account allows you to be prepared for market shifts or unexpected financial needs. Most experts recommend aiming to save enough to cover three to six months’ worth of expenses. A high-yield savings account can help you build your emergency fund even faster while keeping your cash accessible.

Revisit your monthly budget. Inflation may not continue to rise as quickly as it did a few years ago, but that doesn’t mean prices will decrease. It may be a good time to review your spending and look for ways to adjust your budget. For example, you may need to increase the amount allotted for certain items and look for other items where you can cut back. Consider these five ways Forbright Bank customers say they save money on groceries.

Plan vacations in advance. Rather than waiting for potential price increases later in the year, consider booking this year’s vacations several months in advance. If prices drop before your trip, you may be able to rebook at the new price.

Review insurance policies. Make sure you have appropriate insurance for your home and belongings. Flood insurance is not included in standard homeowner’s insurance policies and is available through the National Flood Insurance Program³. Consider researching your area rainfall forecasts and potential impact to your property to determine whether you may need additional coverage.

Secure your financial accounts. After a disaster, scammers often attempt to take advantage of survivors, according to FEMA⁴. Make sure your accounts are protected with multi-factor authentication and biometric authentication if possible. Learn more about how Forbright Bank protects customers’ personal and financial information in order to keep you safe.

Create an emergency stash. Ahead of any major weather events, gather important documents such as personal identification and insurance policies, as well as some cash in case it’s needed. This will allow you to be prepared in the event of a weather disaster in case you are without access to banks, ATMs, or internet access.