Amid all the hustle and bustle of the holiday season, it’s also important to think about your finances in the new year. After all, you don’t want to be saddled with regret come Jan. 1.
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One way to do that is to focus on these expert-approved, year-end banking moves that could help you save in 2026.
Mary Hines Droesch, Head of consumer, small business and wealth management banking and lending products at Bank of America said during the holidays, it can be easy to postpone financial worries until the new year, but to set yourself up for a financially sound 2026, it’s important to adhere to your budget and avoid impulsive spending.
When holiday shopping, she recommended layering retail store loyalty programs and credit card rewards together to maximize discounts and earn rewards to use in the new year. However, she said to only purchase what you can afford to pay off by your credit card statement’s due date to avoid interest charges. She also suggested checking if your bank has a loyalty program to further boost rewards, like the Bank of America Preferred Rewards Program does.
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Droesch said before the year ends, make it a priority to pay off any high-interest credit card debt or personal loans. She explained that by paying down these types of debts, you’ll significantly decrease interest payments, which will free up more cash to grow savings balances in the new year.
“With less debt to manage, you’ll improve your financial well-being and set yourself up for a stronger, more secure start to 2026,” she added.
Droesch said that having a rainy-day savings safety net can offer peace of mind heading into a new year. However, she pointed out that if you had to use part of your emergency funds this year, you should develop a plan to replenish it to help optimize your savings in 2026.
“Consider allocating a larger share of your income to savings, take advantage of automatic savings tools or reduce discretionary spending to direct more funds towards that cushion,” she suggested.
Subscriptions and other unnecessary recurring expenses can be a huge drain on your finances. Before the year is up, Droesch recommended revisiting your current subscriptions and any recurring expenses from 2025 and asking yourself if there are any you can cancel for the new year.
