As the year winds down, it’s the perfect time to pause, review, and set yourself up for a strong financial start in 2026. A few simple actions now can help you stay organized, avoid surprises, and make the most of your money in the year ahead. Here are some key year-end tasks to put on your financial to-do list:
- Review Your Account Activity – Take a few minutes to scan your recent statements for any unusual transactions, forgotten subscriptions, or duplicate charges. Catching discrepancies early keeps your finances secure and ensures your budget reflects your true spending.
- Update Your Beneficiaries – Life changes—marriage, divorce, new children, or the loss of a loved one—can all impact who you want listed as a beneficiary. Review the beneficiaries on your accounts, loans, and insurance policies to make sure everything is up to date.
- Check In On Your Budget – Look over your budget (or create a simple one if you haven’t started yet!) to see how your spending aligned with your goals this year. Adjust for changes in income, expenses, or priorities as you prepare for the year ahead.
- Maximize Retirement Contributions – If possible, consider increasing contributions to your retirement accounts before year-end. Even small increases can make a meaningful difference over time. Plus, some contributions may offer tax advantages.
- Evaluate Your Emergency Fund – A solid emergency fund brings peace of mind. Review your savings and determine whether you need to add more to reach your comfort level—typically three to six months of living expenses.
- Review Loan Payments and Rates – Check your loan balances, payment due dates, and interest rates. This may be a good time to set up automatic payments or see if refinancing could help lower your monthly payments or overall costs.
- Gather Tax Documents – Tax season arrives quickly after the new year. Start collecting receipts, statements, and forms you’ll need to file your taxes. Getting a head start now can help you avoid the last-minute rush.
- Set Financial Goals for the New Year – Whether you’re saving for a home, planning a family vacation, or focusing on debt reduction, writing down your financial goals creates clarity—and increases your likelihood of success.
Taking care of these year-end tasks now means fewer surprises and more confidence heading into 2026. And remember, KPCU is here to help every step of the way. If you have questions about your accounts or want guidance on planning for the year ahead, reach out or stop by one of our branches today.
