If you're thinking ahead to your money goals for 2026, now is the perfect time to start fresh with your financial planning in Texas. Here are five simple steps to not only choose the right goals for the new year, but to make them attainable as well.

#1: Understand your income vs. expenses

Getting a clear picture of your monthly income and expenses is a great starting point for setting your financial goals. You'll have all the information you need to create a sound budget based on your take-home pay and your spending.

Track fixed expenses like housing and insurance, as well as flexible categories like food and travel. Those discretionary areas are the places to cut back if you realize your spending costs more than your income. 

#2: Prioritize your goals

Brainstorm all of your potential money goals for 2026 and then prioritize them in order of importance. Here are some ideas to get you started:

Depending on your lifestyle and current financial situation, some of these goals will likely be more important than others.

#3: Assign a deadline

Once you have your goals mapped out, give yourself a deadline for when you want to achieve them. Then work backwards to calculate how much you need to save each month. It may take some trial and error to figure out a reasonable amount you can stash away.

For long-term goals like retirement or tuition, give yourself an annual goal to meet by the end of the year. You can also break those down into quarterly milestones in order to stay motivated. Add your deadlines to your calendar so you can track your progress.

#4: Find more ways to save

If your savings goals exceed your leftover income, you may need to find ways to lower your spending. Consider choosing one or more of these savings tips to make extra room in your budget:

  • Cancel unused subscriptions
  • Shop around for more affordable insurance policies
  • Plan your meals to lower your grocery bill
  • Cut back on how often you eat out
  • Consider a cash back credit card

Also look at your personal budget for more ways to save, then transfer the difference into your savings account.

#5: Choose the right accounts

Make sure each of your savings goals is attached to an account that supports it. An emergency fund, for instance, works well in a Regular Savings account so you have quick and easy access when you need it.

For goals with a specific timeline, consider a certificate of deposit (CD). This option lets you lock in an attractive savings rate for anywhere between three months and five years. Retirement savings, on the other hand, do well in tax-advantaged accounts such as a 401(k) or IRA.

Kick off a goal-oriented 2026

Follow these small steps to be on track not only for setting your new year goals but also achieving them. ACU of Texas is here to help you throughout the entire journey.