As the new year approaches, setting financial resolutions is on many people’s minds. In a recent discussion on Here & Now, host Indira Lakshmanan spoke with Jill Schlesinger, a business analyst for CBS News and the host of “Jill On Money,” about effective strategies for achieving financial goals in 2026. The conversation also explored anticipated changes stemming from the implementation of President Trump’s One Big Beautiful Bill.
The first step in making a successful financial resolution is to establish clear and achievable goals. Schlesinger emphasized the importance of specificity in setting resolutions. For example, instead of stating a vague goal like “save money,” individuals should aim for a specific target, such as “save $5,000 by the end of the year.” This clarity not only motivates individuals but also helps track progress throughout the year.
Setting timelines is another critical aspect. The discussion outlined the advantages of breaking down larger goals into smaller, manageable milestones. This approach enables individuals to celebrate small victories, which can maintain motivation over time. For instance, if a person aims to save $15,000 by the end of 2026, they could set quarterly targets of $3,750.
Understanding Financial Changes in 2026
Looking ahead, Schlesinger noted potential financial changes that could impact personal finances in 2026, particularly due to the passage of President Trump’s One Big Beautiful Bill. This legislation is expected to introduce new tax provisions and regulations that could affect individual savings and investments. Understanding these changes will be crucial for anyone looking to navigate their financial landscape effectively.
Moreover, Schlesinger encouraged individuals to stay informed about economic trends that could influence their resolutions. Keeping abreast of developments related to inflation, interest rates, and market fluctuations can provide valuable context for financial planning.
The conversation also touched on the emotional aspect of financial resolutions. Lakshmanan and Schlesinger discussed how individuals often struggle with the psychological hurdles of managing money. Acknowledging these challenges is essential for overcoming them. Engaging with financial advisors or joining support groups can offer additional resources and accountability, which may improve one’s ability to adhere to financial plans.
Strategies for Success
In addition to setting clear goals and timelines, Schlesinger shared practical strategies for sticking to financial resolutions. Creating a budget is fundamental; it allows individuals to allocate their resources effectively and monitor their spending. Utilizing financial apps or tools can simplify this process, making it easier to track expenses and savings.
Another recommendation was to automate savings. By setting up automatic transfers to savings accounts, individuals can ensure they are consistently working towards their goals without the temptation to spend that money elsewhere. This strategy can be particularly effective for those who find it challenging to set aside money manually.
As 2026 approaches, individuals are encouraged to reflect on their financial habits and consider what changes they can make to achieve their goals. The insights shared by Indira Lakshmanan and Jill Schlesinger serve as a valuable guide for those looking to take control of their finances in the new year.
In conclusion, making a financial resolution is a proactive step towards achieving long-term stability. By setting specific goals, understanding upcoming changes, and employing effective strategies, individuals can enhance their financial wellbeing and make 2026 a year of success.
