Because ‘I’ll deal with it later’ isn’t a strategy: 10 money moves for the New Year

A new year means two things: (1) We promise to improve our lives, and (2) we pretend we’ll actually stick to those promises this time. Don’t worry, you’re not alone. So, pour a hot coffee, find a comfy seat and enjoy these lighthearted but genuinely helpful financial planning resolutions for the year ahead.

1. Revisit your financial plan

You know that folder marked “Important Documents”? The one sitting under three PTA notices, a stack of kids’ drawings and a fundraising letter you swear you’ll respond to? That one. It’s time to open it.

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Life doesn’t stay still. Kids grow, jobs change, markets zig when you expect them to zag. Reviewing your financial plan annually keeps everything aligned and gives you peace of mind. Even a quick check in helps ensure your goals, risk level and cash flow still make sense for your actual life today.

If you don’t have a financial plan, well then it might be time you reach out to a professional who can help you develop one.

2. Build an emergency fund

Every family needs a cushion for the unexpected — like when the water heater quits, the car starts making “that noise” again, or your kid announces he needs 12 poster boards for a project due tomorrow.

The classic goal is three to six months of expenses. If that feels about as achievable as running a marathon, start small. Even $25 or $50 a month matters. In Judaism, we value gradual improvement — it’s why we light one candle on the first night of Chanukah and work our way up. Financial progress works the same way.

3. Track your spending

Most people don’t blow money in huge, dramatic ways. Instead, spending leaks out in tiny drips forgotten subscriptions, impulse buys, the extra items that sneak into your Costco cart when you’re not looking, etc.

A quick spending review can reveal where your money is actually going versus where you think it’s going. No guilt required. Look at your recent credit card statement and see if you can identify some routine charges that are no longer serving you. The point isn’t perfection — it’s awareness.

4. Increase retirement contributions

The limits usually rise each year, which makes January the perfect time to bump up your 401(k) or IRA contributions — even by 1%. It’s painless, barely noticeable in the moment and surprisingly significant in the long run.

While you’re at it, revisit your investment allocation. If your portfolio still reflects whatever you chose during onboarding 12 years ago because someone promised free lunch, it might be time for an update.

5. Get ahead on taxes

There’s no spiritual benefit to waiting until April 14 to frantically look for documents in a shoebox. Real tax planning happens early.

Review your withholding, charitable giving strategy, expected deductions and whether moves like tax loss harvesting or Roth conversions make sense this year. Your future self — sitting calmly in April instead of muttering “why didn’t I do this earlier?” — will appreciate it.

6. Review insurance coverage (chicken soup for your finances)

Insurance isn’t glamorous, but it’s essential. Think of it as financial chicken soup: comforting, practical, not exciting, but absolutely what you want when life gets unpredictable.

Life, disability, home, auto, liability — give them all a once over. And check your beneficiaries, especially if your family has grown (or if you’d prefer certain relatives not to benefit).

7. Make a plan for debt

Whether you’re using the “snowball” method, the “highest interest first” method, or the more traditional “look at the bill and sigh dramatically” method, having a plan matters. Even one extra payment a year helps.

8. Update your estate plan

Estate planning isn’t about being morbid — it’s about being organized. Wills, powers of attorney, health care directives: These documents make life easier for the people you care about.

Think of it like labeling everything before a big family meal. Everyone knows what’s what, and things run smoothly without arguments.

9. Keep learning about money

Commit to a bit of ongoing financial education. Nothing intense — just articles, podcasts, workshops, or conversations with a trusted adviser who offers coffee. Understanding your finances builds confidence, and confidence makes everything easier.

10. Align your money with your values

In the end, money isn’t just math — it’s meaning. Does your spending reflect your priorities? Your family’s needs? Your identity and values?

If yes, yasher koach. If not, this new year is the perfect opportunity to realign.

I hope you found these resolutions at least somewhat helpful and entertaining. If there are any that resonate with you and you don’t know where to begin, then feel free to reach out. I’ll provide the coffee. Best wishes in the new year! PJC

Ari Goldberg is a financial advisor with Baird and specializes in financial planning for individuals, families and small businesses. He can be reached at 412-633-1739 or ALGoldberg@rwbaird.com