Tips to manage financial New Year’s resolutions

With a new year about to begin, some people are making financial resolutions. Some experts say 2026 is the year to make a 'spending plan.'

With a new year about to begin, some people are making financial resolutions for 2026.

Experts say this is the year to make a “spending plan,” which really means a budget.

Michael Zagari, an investment portfolio manager at Wellington-Altus, admits that New Year’s resolutions may come and go, but one thing is constant when it comes to personal finances: “People want to do the right thing with their money. They don’t want to be foolish.”

Nicolas Gagnon, the Quebec director for the Canadian Taxpayers Federation, says he expects 2026 to be a tight year for the family budget.

“We’re seeing the increase of many commodities, of food, of rent, electricity actually increasing at a faster rate than the inflation in many cases,” he says.

Zagari says it’s important to plan and organize your spending carefully by planning for the short, medium and long term.

“Set a plan in place — whether they’re saving a lump sum amount of money at the beginning of the year, end of the year, or if they’re putting in money on a monthly basis — just be consistent and follow through on your plan," he advises.

The amount of income that goes toward paying taxes is always “top of mind” for Gagnon, who says families deserve a break now more than ever.

“The year 2025 was not exactly a year of relief for taxpayers,” he says, adding that though the federal government launched several initiatives, Quebec did not follow.

“We believe that the ball is now in the court of [Premier] Legault to actually give the relief that Quebec families need so much and not to wait for an electoral announcement or for the incoming budget in March,” says Gagnon. “Legault should actually act right now to give the relief that they so deeply need.”

Zagari adds that there’s a new variable to consider when it comes to keeping track of your cash – artificial intelligence.

“I think investors or people in general should just pay attention to artificial intelligence, whether it’s from an investment opportunity or whether they can just better protect their security and their privacy. I think that would that would make sense for people to deal with in 2026,” he says.

Zagari and Gagnon agree: watch your spending and save where you can to set yourself up for success in the new year.