ACT NOW TO BOOST YOUR NEST EGG

Experts tell LARA OWEN what we should be doing to secure a more prosperous future

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IT may seem too early to be thinking about next year, but when it comes to finances, the decisions you make today could set the tone for the rest of your life.

Whether you're trying to rebuild savings, get investing or just make sense of what the next year might bring, action now goes a long way.

So, here are six things you can start doing for a financially better 2026.

1. Be clear on your priorities

There's no point trying to manage your money if you haven't defined what you're managing it for.

“Write down your own financial priorities - whether it is being debt free, helping your children, or having enough money to retire - and allocate a specific amount of your disposable income to these; explains Iain McLeod, head of private clients at wealth management firm St James's Place.

Iain says it's worth getting expert help if you’re unsure what your next step should be, adding: “The worst move is to do nothing,” he says, “the second worst is to follow a flow chart - everyone's circumstances are unique”.

2. Save, invest or spend?

With inflation still above the Bank of England’s target and interest rates holding at 4.25%, it’s easy to feel stuck between stockpiling cash and making big purchases before prices rise. But timing the market or second-guessing interest rates isn’t the point.

“Focus on what you can control,” says Iain. “Once you have balanced how much you would like to spend and what to save, you are in a stronger position to commit to longer-term investments. This provides the foundation of a long-term plan, which can be resilient against shorter-term market shocks.”