Sticker shock at the store? You're not alone. Inflation continues to impact millions—with 45% of Americans reporting that rising everyday prices are their top financial concern. It's easy to understand why. Grocery prices surged in 2025, rising 3.3% nationwide.1 Fortunately, there may be some relief on the horizon as the USDA projects a slower increase in food-at-home costs for 2026.
Still, that financial pressure may be driving a shift in behavior. Rather than waiting for price increases to ease, many Americans are taking action—setting goals and making plans to better manage their money. Financial resolutions are emerging as one of the most impactful ways to regain control in 2026. And while 31% describe their relationship with money as “stressful,” a strong majority—71%—say they have a plan to reach their goals, according to Fidelity's 2026 New Year's Financial Resolutions Study.2
That optimism is backed by action: The study found that 64% of Americans say they’re considering a financial resolution this year, up from the 56% who made one in 2025. The theme for 2026? Planning with purpose.
To help make 2026 a financial success, consider these steps.
1. Inventory your finances: Review your income, expenses, debt balances, and the interest rates you're paying
The first step to achieving any kind of financial goal is getting organized and finding out where you stand now and where you want to be. So set aside 30 minutes to an hour to take inventory of your financial life. This can help you prioritize your goals and understand how much money you may be able to put toward them.
Here's what to look for:
- What is your monthly take-home pay?
- How much do you pay for essential expenses, like food, health insurance, and housing?
- How much do you typically spend on nonessential expenses, like entertainment and shopping?
- And if you have debt, what are your balances, interest rates, and minimum payments? Payments on debt should be considered part of your essential expenses.
Being able to see all of these facts and figures in one place will allow you to map out your approach, whether the goal is to reduce your expenses or pay off debt—both of which have the benefit of freeing up more of your income to save and invest.
Track your financial information in one place for free with our Spending and Budgeting tool.
2. Review your budget to make room for future priorities
A budget isn't etched in stone. It's meant to be fluid and change as your lifestyle and needs evolve. Setting some guardrails can help you stay in control and aware of where your money is going. For instance, saving for retirement may not feel like a high priority among bills and rising expenses, but it’s a need that won’t go away and requires a small but consistent amount of attention throughout your earning years.
If you’re feeling overwhelmed, you’re not alone—55% of Americans say managing personal finances feels overwhelming, including 64% of Gen Z and 68% of millennials, Fidelity's study found. Starting with a clear inventory can help turn stress into structure.
On Fidelity.com you can easily create a budget to categorize expenses and help reach your savings goals: Help me budgetLog In Required
3. Protect yourself from the unexpected by maintaining at least minimum insurance coverage
It is not easy to build up your financial foundation, so it makes sense to protect what you've worked hard for. One of the best ways to do this: Maintain at least minimum insurance coverage.
Many employers provide health, life, and disability insurance coverage for employees. The cost is generally lower than buying coverage for yourself, so taking advantage of the benefits offered by your employer can be an easy way to cover all your bases.
Insurance is like the umbrella you don't think you'll need. It may turn out to be the only thing that protects you from the storm. Having insurance for unlikely but potentially expensive events can help make sure your daily life can continue smoothly while continuing to move forward toward your goals.
Estimate how much life insurance coverage you may need to replace your income and find out how much it may cost: Term life insurance quote
4. Save for future health care expenses with an HSA or FSA
A health savings account, or HSA, is available to you if you're enrolled in a high-deductible health plan. If you have health insurance through an employer, it may offer an HSA. Plus some employers may offer to make contributions to your HSA (which count toward the annual HSA limit). If you have a high-deductible health plan from the Affordable Care Act Health Insurance Marketplace or state exchanges, consider opening a Fidelity HSA.
You can think of an HSA like a hybrid savings account. The money you contribute is earmarked for medical expenses and has no expiration date. Many people tend to keep the amount of their deductible or out-of-pocket maximum in cash and invest beyond that for more growth potential, but there are no limits as to how much or little of it can you invest.
The best part is that HSAs offer a triple tax benefit: You don't pay taxes on money you contribute, any part of the balance that's invested has tax-free growth potential, and money you take out is tax-free when you spend it on qualified medical expenses.3
Read Viewpoints on Fidelity.com: 3 healthy habits for health savings accounts or consider opening a Fidelity HSA
If you don't have an HSA-eligible health plan but do have access to a flexible spending account (FSA) through your employer, it can be worth considering. Like an HSA, the FSA lets you set aside money before it's been taxed to pay for health care costs. Any withdrawals are also tax-free, provided you use them to cover qualified medical expenses.3
An FSA can help increase the money you have available to pay for medical bills. But it's important to know that funds saved in an FSA generally must be used in the same year as the contribution. This means that when the new benefit year begins, you may forfeit whatever funds remain in the account from the prior year. Some employers may allow you to carry forward a small amount of your unused balance or can offer a grace period (normally up to 2.5 months). Check with yours to see if you can carry over a portion of your FSA at year-end.
Read Smart MoneySM on Fidelity.com: HSA vs. FSA: Which is right for you?
5. Start setting aside cash to cover emergencies like car repairs, medical bills, or job loss
After a trying and unpredictable few years, building up emergency savings is a goal for many Americans, including 25% of those surveyed.
Fidelity suggests saving enough to cover essential expenses for 3 to 6 months. That can be a significant amount of money, and it can take time to save that much. Setting smaller goals on the way to the larger goal may help it feel more achievable; for instance, aiming to start strong with a target of $1,000.
Consider investing your cash in a money market fund or high-interest savings account, which typically offer higher rates than most savings accounts: Help your cash work harder
6. Try to get the full 401(k) match (if you have one) from your employer—it's like free money
As you're getting everything in order for the near term, long-term goals might get put temporarily on the back burner. Since retirement is such a big goal and time is so important to reaching it, saving what you can spare now makes good sense—particularly if your employer offers a 401(k) match. The match is like free money, so try to save at least enough to capture the entire amount.
Let's say your employer matches 100% of your contributions, up to $3,000 a year. That means you need to contribute $3,000 to boost your 401(k) by $6,000.
As with any investment account, be sure to review your asset allocation—that is, how your money is divided among stocks, bonds, and cash. Make sure it aligns with your appetite for risk and your financial goals, and is appropriately diversified.
Read Viewpoints on Fidelity.com: 6 ways busy people can help build their wealth and 3 tips to choosing investments
7. Keep more of your money for yourself by paying down high-interest credit card debt
High-interest credit card debt can be a drain on your finances. Rather than saving and investing for your future goals, money goes to pay off past purchases.
Get a clear sense of your debt and tips for paying it off: Debt dashboardLog In Required
Paying more than your monthly minimum payments can speed up your debt repayment and reduce your interest charges. If you have multiple balances to pay down, consider concentrating all your efforts on the card charging the highest interest rate for the most efficient paydown strategy (but continue making minimum payments on all cards) to eliminate that balance as soon as possible.
Another strategy, called the snowball method, suggests starting with the smallest balance first and then rolling those payments into the next-smallest balance once the first is out of the way.
Read Viewpoints on Fidelity.com: The debt snowball method vs. the debt avalanche method
The sooner you stamp out high-interest debt, the sooner you can reroute the income toward the future. For Fidelity's take on navigating saving while paying off debt, read Viewpoints on Fidelity.com: How to balance debt, saving, and investing
8. Prepare for serious emergencies with a fully funded emergency savings
Once you have a strong foundation, try to build a more robust emergency savings that could provide a strong defense against an ongoing emergency like a job loss. Fidelity suggests getting started by saving $1,000, then aiming to save 3 to 6 months' worth of essential expenses for your emergency savings in a no-risk account.
Exactly how much you need depends on your personal financial situation. One thing to consider: The fewer earners there are in your household, the more money you could consider saving. Read Viewpoints on Fidelity.com: How much to save for emergencies
9. Pay down debt with an interest rate above 6%
At this point, you may have already paid off any high-interest credit card debt. But you may have other debts with relatively lower interest rates, like a car loan for instance.
Fidelity suggests that if the interest rate on your debt is 6% or greater, you should generally pay down debt before investing additional dollars (beyond your employer match) toward retirement. With inflation still top of mind for many, paying down high-interest debt can be one of the most effective ways to regain control and free up cash for future goals. Read Viewpoints: Should you pay down debt or invest?
Take the first steps
Start the new year off right with these money-smart steps to get control of your finances. If you need help, call a Fidelity representative.