New Year’s Financial Evaluation
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All of us have both the obligation and the privilege of deciding how to manage our resources. Taking an intentional look at what our finances are and how we think about them gives us the opportunity to grow, to become more healthy and stable in ourselves, and also to care for the world around us.
“People who enjoy good financial health don’t usually just stumble into it – they put some effort into planning ahead and sticking to the plan.” This quote and all the information below comes directly from an article by Everence called “Five Steps Toward A Better Financial Future.” You’ll find the five steps below incredibly helpful as you evaluate your own finances here at the beginning of 2026.
Five financial steps to improve your changes of a healthy financial future
Step 1: Create or review your budget.
Tracking where your money comes from and where it goes is important. If you already do this, good for you! If not, now is the time to start. Once you have a sense of your usual income and expenses, take a closer look.
Paying attention to where your money is going can help you make adjustments to save money for an emergency account or other purpose.
Could you save a few more dollars from each pay period so you have a cushion in case an unexpected major expense comes up?
Do you see certain areas of spending you could cut back on?
Step 2: Consider additional investing as you’re able.
If you have a retirement account such as a 401(k) or IRA, think about increasing the amount you contribute to it. If your employer matches a certain level of contribution, make sure you take advantage of that benefit as much as you can.
You can pledge to increase your level of contribution anytime you get a bump in pay, for example. If you own your own business, check to see whether a tax-exempt retirement account such as a Roth IRA is a good fit for you.
You’re investing in your own future financial health. It’s not too early or too late to get started.
Step 3: Work at a long-term financial plan.
Start working now to achieve your goals. What are they?
Paying off debt?
Buying a house?
Expanding your generosity toward your church or favorite nonprofit?
Saving for your child’s education?
Getting ready for retirement?
Taking a dream vacation trip?
Making a difference in the world in a specific way?
When you realize what’s best for you in the long term, you can work now to achieve those goals.
Step 4: Be generous.
You are allowed to make financial decisions that reflect your faith and values. Financial planning can help you maximize your generosity as you support organizations important to you. Charitable giving tools can be tailored to suit your financial situation, expectation, and goals.
Step 5: Meet with a financial professional.
Even if you feel confident that you’re handling your finances well, getting an independent evaluation is a good idea. Someone with training and experience in financial matters can look at your income, expenses, insurance, retirement plans and other factors and help you map out a course for your future.
A financial planner or financial consultant can help you come up with strategies for reaching your goals and approaching the future with more confidence.
Further Resources from Everence:
Everence
Everence is a Federal Credit Union that offers financial services rooted in something more than making a profit. They believe it's possible to incorporate your faith and values with your decisions about money.