7 Smart Money Moves to Make Before the End of 2026 – A Financial Checklist

Now entering the second half of 2026, it’s a great time to take a pause to see where you’re at financially and what you can aim to accomplish before the calendar turns to 2027. What’s more, there have been a few legal changes that may impact your finances.

Here’s what you need to know.

Brett Holzhauer is a senior financial writer and editor with over a decade of experience covering personal finance, investing, and the U.S. economy. His work has been featured in Forbes and CNBC, where he focuses on helping readers make sense of real-world financial challenges.

1. Federal Student Loan Adjustments

On July 1, guidelines around federal student loans changed. The SAVE repayment program, instituted during the Biden administration, has now been eliminated. It has been replaced by RAP (Repayment Assistance Plan). If you were enrolled in the program, you have 90 days after July 1 to choose a different repayment plan. If you don’t choose a new plan, you will automatically be moved to the Tiered Standard repayment plan.

Additionally, if you enroll in auto pay for your student loan payments by September 30th, you’re eligible to receive a 1% interest rate decrease through June 30th, 2028.

You can find more information about these changes here.

2. Pay Down High-Interest Debt

Interest rates are estimated to stay higher for longer. This means the cost of borrowing money through credit cards, personal loans, and mortgages will remain elevated.

The best thing you can do is put all of your financial resources towards paying down high-interest debt (anything above 10%). Here are a few ideas to get started:

• Call your credit card company: If you’re struggling to make credit card payments, contact your credit card issuer. Additionally, try asking for a lower interest rate. There is no guarantee they will say yes, but there’s no harm in asking.
• Look into a balance transfer credit card: If you’re struggling to get ahead on your credit card debt, moving your balance to a 0% intro APR credit card may help.
• Consider debt consolidation: If you have multiple high-interest debts, it can help you consolidate them into a more manageable monthly payment.

3. Boost Your Retirement Savings

If you’ve been contributing to retirement throughout this year, this is a gentle challenge to slightly increase your contributions. Even a 1% addition to your retirement nest egg can make a significant difference without meaningfully taking from your monthly budget.

Here are a few places to start contributing, along with the 2026 contribution limits.

4. Earn Extra Money From Your Cash

If you have an established emergency fund or are starting to, you are far ahead of many. However, it’s equally important that you have those funds sitting in the right account to continue working in your favor.

Here are a few things you can do to get your money working for you:

• Use a high-yield savings account: A traditional savings account pays very little in interest. By moving to a high-yield savings account, you can have interest working on your side.
  Writer’s recommendation: I use the E*Trade Premium Savings Account, which is currently offering a $400 cash bonus.
• Switch banks: If you haven’t switched banks in a few years, you may consider it. Many banks offer welcome bonuses for bringing your business over.

5. Open a Trump Account (If Eligible)

530a plans, known as Trump Accounts, were launched on July 4th. The purpose of these accounts is to give children an opportunity to be invested in the future of the U.S.

What’s more, children born between January 1, 2025, and December 31, 2028, are eligible for a $1,000 seed investment from the U.S. government. In addition, children born between 2016 and 2024 who live in ZIP codes where the median income is $150,000 or less may be eligible for a $250 grant from CEO Michael Dell.

This can be a fantastic way to set a child up once they turn 18 and have access to the account.

6. Check Your Financial Health

A mid-year financial checkup can help you catch small problems before they become expensive ones. Take a few minutes to review these key areas:

• Check your credit score. Be sure to regularly check your credit score and report for any potential mistakes or errors as well.
• Evaluate your emergency fund. Financial experts generally recommend saving three to six months of essential expenses, but don’t let that goal discourage you. Building your savings one paycheck at a time is still meaningful progress.
• Automate your savings. Even saving $25 to $50 per month can help create a financial cushion while making the habit easier to maintain.
• Review your monthly budget. Look for subscriptions you no longer use, recurring bills that have increased, or spending categories that have crept up over the past six months. Our monthly budget calculator can help you navigate your expenses.
• Do some retirement projections. Retirement may seem like a long-distant future, but small actions today can make a significant difference when that time arrives. Vanguard has an excellent calculator to gauge where you are in your savings journey.

7. Get Ahead Before Year-End

The second half of the year is a great time to get your finances in order before the holiday rush begins. Taking a few small steps now can help you avoid unpleasant surprises when tax season arrives, maximize workplace benefits before they expire, and reduce the need to rely on credit cards for year-end expenses.

• Estimate your tax bill now. If your income has changed, you’ve picked up freelance work, changed jobs, or received investment income, estimate whether you’re on track to receive a refund or owe money. The IRS offers a free Tax Withholding Estimator that can help you determine whether you should adjust your paycheck withholding before the end of the year. Additionally, be sure to lower your taxable income before the turn of the calendar.
• Review workplace benefits before they expire. Many employer-sponsored benefits reset on January 1. Check whether you have unused FSA dollars, remaining wellness reimbursements, or other perks that disappear if you don’t use them.
• Start saving for holiday spending today. Rather than putting gifts and travel on a credit card in November or December, begin setting aside a little money each paycheck now. Even saving $25 to $50 per week can build a holiday fund that helps you avoid carrying expensive credit card debt into the new year.