Every January, we close the books on another year, and look ahead to changes we want to make in the new year. One resolution many people make is to polish up their finances.
Below are some smart financial resolutions NEA Member Benefits shares that you can take on in 2026.
“I will build up my emergency fund.”
Experts recommend you set aside at least three to eight months’ worth of living expenses. The easiest, most pain-free way to do this is to set up an automatic transfer from your paycheck into a savings account. Begin with a small amount per pay period, then increase it as you can. You never know what the future may hold, and a reserve fund will help you get by if you lose your job, experience a major illness or incur other unexpected expenses.
“I will check my credit report.”
You can get a free report from AnnualCreditReport.com. Take a few minutes to review your credit report: Make sure your accounts are listed correctly and that there aren’t any errors that need to be fixed. Errors could indicate that you’re a victim of ID theft, so you’ll need to start working to correct those ASAP. Before applying for big loans, check your credit score. If it’s low, spend a few months taking positive steps to improve it. You could save yourself thousands in interest.
“I will resist the urge to borrow from my future self.”
No matter how large the expense you’re facing, resist the temptation to pull money out of your retirement account. While contributions to your retirement went in tax-free, you’ll need to repay the loan with interest if you borrow against it. Additionally, switching employers before paying off the loan can result in penalties. Most importantly, withdrawing funds from your retirement account reduces the amount compounding over time, which can leave you with less money at retirement.
If you need cash quickly, consider more favorable options like a home equity loan or a personal loan. With the NEA Personal Loan, you can access the funds you need with competitive interest rates and flexible repayment terms. There are no origination fees, no application fees, no processing fees and no pre-payment penalties. This option allows you to borrow without putting your retirement at risk.
For even more flexibility, the NEA Advantage Loan offers higher borrowing limits and additional terms to fit your financial situation. Both loan options provide a safer alternative to dipping into your retirement account and are designed to meet the unique needs of NEA members, helping you manage expenses while keeping your financial future secure.
“I will calculate refinancing costs to get a better mortgage rate.”
Interest rates are still relatively low but have risen some in recent months. It may make sense to act now to refinance your home, saving you money every month. First, determine whether the costs are worth it. Refinancing to a new 30-year loan with a lower interest rate could result in an increase in your monthly cash—but you’ll be making mortgage payments for a few more years. Also, calculate how long it’ll take you to break even on your refinancing costs.
“I will fully insure my home, car and life.”
As life changes, so do your insurance needs. Spend some time reviewing your coverage. Does your homeowners policy still cover all of your personal possessions? Have your life insurance needs changed in the past year? Are your beneficiaries up to date? Review your coverage annually: You may save money by reducing some unnecessary coverage, or you may find areas where an increase is needed.
“I will make regular contributions to my retirement accounts.”
Consistently contribute to your 403(b), regardless of what the economy is doing. Those are pre-tax dollars that accumulate on a tax-deferred basis. Make sure you diversify your investments and rebalance at least once a year. For assistance in choosing investments, contact the adviser assigned to your account, or speak to a licensed financial adviser. You also can contact the NEA Retirement Program to discuss supplementing your retirement fund.
