Financial New Year's Resolutions You Shouldn't Wait to Tackle

As the year winds down, many people begin thinking about resolutions—ways to improve their health, relationships, and finances. But for those serious about aligning their wealth with their goals, waiting until January is a missed opportunity. 

At Plancorp, we believe financial clarity starts with intentional action. Whether you’re managing concentrated equity, optimizing retirement contributions, or simply looking to eliminate inefficiencies in your cash flow, now is the time to act. 

Here are 10 strategic financial moves to consider before the calendar turns—starting out with more basic strategies and getting more complex the further you read. 

Eliminate Credit Card Debt Strategically

Carrying high-interest debt—even temporarily—can erode long-term wealth. As of late 2025, the average credit card interest rate hovers around 20%, according to Bankrate. For high-net-worth individuals, this isn’t just about budgeting. It’s about opportunity cost. 

Even affluent households can fall prey to lifestyle creep or liquidity mismatches. If you’re carrying balances month to month, consider this a signal to revisit your cash flow strategy. Eliminating credit card debt frees up capital that can be deployed toward more impactful goals. 

Maintain Positive Cash Flow with Purpose

Cash flow is the foundation of every financial plan. But surplus cash isn’t just a buffer—it’s a strategic lever. 

If you consistently have excess funds after covering expenses, it’s time to ask: Are those dollars working toward your highest priorities?  

Our Cash Flow Worksheet helps you categorize income and expenses, but our advisors go further, helping you align surplus cash with calibrated outcomes like retirement acceleration, philanthropic giving, or legacy planning. 

Earn Better Interest on Your Savings

Emergency funds are essential—but they shouldn’t be idle. For most households, three to six months of expenses is a healthy target. Find the number that is right for your situation.     

For example, a family with a dual-income household with jobs in different industries may feel comfortable setting aside three months of expenses as emergency savings.  

But if you are a single-income household, it’s often smart to be a bit more conservative and shoot for at least six months of expenses in case unexpected job loss or another type of emergency arises.    

Once you land on the number, make sure it’s working for you. Regular savings accounts pay you a ridiculously low interest rate. Instead, we recommend opening a high-yield savings account, currently paying above 4% interest rate on your savings.     

Although you won’t get rich from the returns of your high-yield savings, the hope is that you can at least earn enough to fend off inflation while keeping your cash secure.   

Invest Excess Cash with Intention

Cash beyond your emergency reserve should be evaluated for investment. If you don’t anticipate large purchases in the next 3–5 years, consider deploying excess funds into a diversified, tax-efficient portfolio. 

For high-net-worth individuals, this may include municipal bonds, donor-advised funds, or private market opportunities. The key is matching your investment strategy to your time horizon, risk tolerance, and values. 

Maximize Retirement Contributions

Retirement accounts remain one of the most tax-advantaged ways to grow wealth. For 2026, the IRS limits are: 

• 401(k): $24,500 (or $32,500 for those age 50+) 
• Traditional/Roth IRA: $7,500 (or $8,600 for age 50+) 

High-income earners should also explore advanced strategies like the Mega Backdoor Roth or cash balance plans, which can significantly increase retirement savings while reducing taxable income. 

Review Your RSU Vesting Schedule

If you receive restricted stock units (RSUs), now is the time to review your vesting schedule and develop a strategy. 

Unmanaged RSUs can lead to overconcentration in company stock, increased risk exposure, and complex tax implications. Our equity compensation specialists help clients diversify, manage blackout windows, and optimize capital gains timing. 

Maximize Your ESPP with a Proactive Strategy

Employee Stock Purchase Plans (ESPPs) can be powerful wealth-building tools—especially if your plan offers a 15% discount and look-back provision. 

But without a strategy, ESPPs can create cash flow strain and tax complexity. We often recommend selling shares immediately after purchase to lock in gains and reinvest in a diversified portfolio. For long-term participants, we help navigate qualifying dispositions and minimize tax liability. 

Use our free ESPP calculator to explore your options. 

Find a Professional to Tackle Your Taxes

Don’t wait until January to find a CPA or tax advisor. The best professionals are already booking into 2026. 

Tax planning is not a seasonal task—it’s a strategic lever for wealth preservation. Our integrated planning process ensures your tax strategy is aligned with your investment, estate, and philanthropic goals. 

Review Your Credit Report and Protect Your Identity

You’re entitled to a free credit report annually from TransUnion, Equifax, and Experian. For HNWIs, we recommend reviewing reports quarterly and considering credit monitoring services or identity theft insurance. 

If you’ve been notified of a data breach, consider activating a credit freeze to prevent unauthorized accounts from being opened in your name. 

Give Your Financial Plan a 2-Minute Gut Check

The first step in building a goal-focused financial plan is getting the lay of the land and understanding how you’re doing so far when it comes to your overall financial health.    

If you think your financial plan may be missing something, our 2-minute financial analysis is a great place to start. You’ll receive instant results in four key areas of your financial situation, along with personalized recommendations and curated resources to make a major impact on your plan moving forward.