A new year is a natural time for reflection, including your finances. Small, thoughtful reviews at the start of the year can make a meaningful difference over time. Instead of overhauling everything at once, use this New Year Financial Checklist to ensure the key parts of your financial plan stay aligned with your life and goals.

Revisit Your Financial Goals

As life changes, your goals may too. The start of the year is a good time to pause and ask yourself:

• Are my short-term goals (travel, major purchases, education funding) still the same?
• Have my long-term goals shifted due to career, family, or lifestyle changes?
• Am I on track, or do timelines need adjusting?

Clarifying your goals helps ensure your investments, savings, and cash flow work toward what matters most to you and your current priorities.

Emergency Fund Check Up

Are your cash reserves adequate for an emergency? A good rule of thumb is to have 3 to 6 months’ expenses in an account that is easy to access, such as a savings or money market account. If you are below this target, start funding monthly to reach it by the end of 2026. Also, check the interest earned on your account in 2025. If it is not competitive, boost your savings in 2026 by switching to a high-yield savings account currently earning 3% or more.

Automated Savings Plans

Automated savings plans are a great way to pay yourself first and make saving painless. Check at the start of the year to see if these amounts need adjustment. If you received a raise in 2026, consider increasing savings by the same amount to avoid lifestyle creep. IRS limits for qualified accounts like 401(k) plans, 403(b) plans, IRAs, and HSAs have increased for 2026. Adjust your paycheck amount to stay in line with the new maximums.

Check Credit Report

We recommend checking your credit report annually to ensure there are no issues that need to be reported to the credit bureaus. You can run one free report each year for Experian, Equifax, and TransUnion at www.annualcreditreport.com.

Review Beneficiaries

Often, these are set up when an account is first opened and then never reviewed. Like an estate plan, beneficiary designations should be checked after major life events. Marriage, death, divorce, a family birth, or an updated estate plan are all reasons to review. Even without major changes, it is good practice to check your beneficiary designations periodically. Sometimes, the current beneficiary is shown in your online account access, making it easy to verify. If you opened new accounts in the past year or have not checked in a while, this is a good opportunity to make sure everything is in good shape.

Review Insurance Coverage

If you do not already review auto, homeowners, and umbrella insurance at renewal time, the start of the year is a good time to see if changes are needed. Building costs have increased dramatically since 2020, so check that you have enough coverage to rebuild your home if needed. Expanded or extended replacement cost coverage options can pay beyond your current limits. In a natural disaster, demand and prices rise, so it is good to be prepared with the right coverage.

Bringing It All Together

You do not need to tackle everything at once. Even reviewing one or two areas can provide clarity and confidence as you move into the year. If you want to dive deeper into your finances, this checklist breaks things down further.

If you would like to walk through this checklist together or discuss updates to your plan, reach out to your advisor. A thoughtful review today can make the rest of the year feel more intentional and less stressful.

Mary McCraw, CFP®

Vice-President

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The Arkansas Financial Group, Inc. is a Fee-Only Financial Planning Firm located in Little Rock, AR serving clients in Arkansas and throughout the country.

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