A solid financial plan for 2026 is to review, update and simplify

If you want 2026 to be the year in which your finances genuinely improve, you should do the following:

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1. Make an honest assessment

Good financial planning starts with honesty and a willingness to confront the uncomfortable. Start by drawing up a list of all your assets, debts, income streams and the regular payments you are committed to pay. You cannot improve what you do not measure.

I find that doing this often helps you understand how your finances fit together.

2. Reexamine your life priorities

The question to ask at the beginning of a new year is not how much you should invest, but where you are going. Life priorities shift over time, but financial plans often don't.

If your investments, insurance and cash flows are still structured for a life you no longer live, friction and anxiety result. A good plan should feel aligned, not restrictive.

3. Review your budget and cash flow

The purpose of a budget is to make sure your money is working intentionally. Start with cash flow: what comes in, what goes out and what remains.

Look for inefficiencies like subscriptions you no longer use, and insurance premiums that haven't been reviewed in years. Even small monthly adjustments can create meaningful surplus over time, which can be redirected towards savings, investments or peace of mind.

4. Review your risk