I’ve always approached New Year’s resolutions with a certain degree of skepticism. It seems there’s already an overwhelming list of responsibilities I neglect, so why add another layer of pressure?

Recently, I stumbled upon an intriguing concept: setting an intention rather than a resolution. The difference is subtle yet significant. A resolution often feels like a binding contract—one that, if broken, signifies failure. In contrast, an intention is more forgiving. It acknowledges human fallibility and encourages perseverance even after setbacks.

For many, financial goals rank high on the list of resolutions or intentions. After two decades immersed in the world of financial journalism, one might assume I have no need for such goals. Yet, as I look toward 2026, I find myself intent on gaining a firmer handle on my finances.

The irony is not lost on me: despite my increased knowledge, I was more adept at managing my money when I had less of it. Back then, I had the luxury of time, a commodity that’s now in short supply amid the demands of work and family.

As a result, my financial tasks have piled up into a daunting mountain of to-dos. This includes everything from reducing my broadband payments to Sky, reassessing our household budget, and untangling the convoluted web of investments in my stocks and shares ISA.

The pile currently ranges from needing to stop paying Sky so much for my broadband, to properly look at our household budget, and sorting out the jumbled mess of investments in my stocks and shares Isa.

My 2026 intention is to get on top of this.

Get your finances on a sound footing by ticking off some of the essentials

The enemies of intention are procrastination and overcommitment – and as a man who intents to do a lot but doesn’t achieve it, I know all about that.

So, if you want to sort your finances in 2026, my first tip would be to crack on with an achievable list of the essentials. Once that’s done, you can move on to the bits to grow your wealth.

For now, here are my seven essential steps to get your finances on a sound footing.

Get a grip on your household budget

Most people could put a pretty accurate number on what comes in each month, but many would struggle to explain where it all goes.

Budgeting is hardly an enticing prospect, but it is the essential first step to feeling more in control of your finances and ultimately richer.

Once you know what you are spending all your money on, you can work out where you can cut back, target areas for saving money, and figure out how much you have left to save, invest, or enjoy yourself.

You can read our guide to budgeting for some tips and use our household budget calculator. 

One thing I’ve found useful over the past year is paying a set sum each month into a separate bank account for my day-to-day spending. This has helped me keep much better track of things.

Check your bills

With the budgeting done, you’ll know what your essential bills cost you each month and can see if you can save on them.

Broadband and TV, energy, insurance and mobile phones are prime candidates – you may also have things that you pay for regularly that could be cheaper or cancelled. The links below can help.

> How to save on energy bills – and the best fixed deals

> How to save on broadband – and the best deals

Sort any debts

If you have debt on a high interest rate, usually credit cards, loans, car finance, or other consumer debts, then it’s important to get it paid off as soon as you can.

Check the debts that you have and the interest rates you are paying. Next see if you can consolidate it onto a lower rate, with a 0% balance transfer credit card or personal loan, and then make sure you are paying as much as you can to get it cleared ASAP.

Getting your debt onto a lower interest rate means that less of your payments go on interest and more go on clearing the balance. 

Balance transfer credit cards can allow you to benefit from lengthy periods of paying no interest, but you will face a transfer fee to move your debt. You must also keep up with monthly payments and make sure you don’t fall foul of any other conditions that mean you would lose the zero per cent rate.

Setting yourself the task of clearing debt over an achievable timeframe and then automating it as much as possible, with money coming straight out of your account after payday, for example, can help. 

Clearing debt is a long game and requires perseverance – it could take more than a year – but it is worth making it a priority.

Get a rainy day fund

An emergency savings pot for when things go wrong is a financial necessity.

The general recommendation is that you need a rainy day fund worth three to six months of essential spending.

For many that will feel like a daunting figure, but remember it’s not three to six months of pre-tax income, instead it’s enough to cover the things you must spend money on, like your mortgage, bills, food etc.

If you haven’t got an emergency pot, start saving one. Research shows even having just some money set aside makes a big difference if financial trouble strikes.

This should be money kept readily available, but you also need to avoid the temptation to tap it for things like topping up monthly spending, treats, or holidays. 

I’d recommend keeping it in a good flexible cash Isa with no withdrawal restrictions. Read our Five of the best cash Isas to check the top rates. 

Save into a pension

Saving for retirement should be considered an essential monthly expense. If you are employed, make sure you are in your workplace pension scheme and pay in as much as you can to get the maximum benefit of employer contributions. Read our guide to making the most of your work pension.

If you are self-employed, you will need to take on the responsibility yourself. Read our guide to the best self-invested personal pensions for help.

Getting a will can be much simpler than you might think and is vital to protect loved ones

Get a will

Writing a will can be incredibly simple and cheap and yet still many people don’t have one. If you have children, a long-term partner, or any financial dependents, then you definitely need a will.

The best protection comes from getting a will with a solicitor, but you can also use a will writer, or if your needs are simple a good low-cost online service, such as Farewill or Which?’s one, or some charities offer help too in return for a bequest.

If you don’t have a will, then intestacy rules decide where your money and assets will go, and that may not be where you want.

I made the mistake of not having a will for many years, including some when I already had children. (See my point above about procrastination.)

This is an old article – so some figures are outdated – on what I learnt when I finally wrote my will, which may help with some of things you need to think about.

Get Lasting Power of Attorney

Lasting Power of Attorney is something that is generally only thought of as an essential for older people, but I would argue everyone needs this – especially parents.

It allows you to appoint a trusted person to take control of your affairs if you are unable to do so, through an illness, accident or other event that incapacitates you.

There are two types of LPA: One for property and finances and one for health. The former allows someone to access your bank accounts, savings, and other financial matters if you cannot do so. The latter allows someone to make medical decisions for you.

A financial LPA could prove vital for your family if something happened and they needed to access money not held in joint names, or act on a mortgage or home. It is simple and cheap to set up and can be done at gov.uk/power-of-attorney. Read our guide to Lasting Power of Attorney to learn more.