Plan for 2026 like you’re a Boy Scout.

As seen in The Oakland Press

December 28th, 2025

Plan for 2026 like you’re a

Boy Scout.

by Ken Morris

As we cross the finish line on 2025 and enter a new year, ask yourself these questions. Are you financially prepared for 2026 or are you just drifting into it? Do you plan to implement any new financial plans or goals? I think it would be negligent if you simply rolled into next year without any preparation.

Don’t be shocked when many expenses increase. Utility bills and healthcare, for example. Healthcare premiums will rise significantly, and not just for those covered under the Affordable Care Act (ACA). Trips to the grocery store will likely remain expensive. And while it looks like you may save a few dollars when you fill the gas tank, car maintenance could eat up much of those savings.

The Federal Reserve recently cut interest rates, so any new mortgages will likely cost less. But on the flip side, your maturing CD will likely pay you less interest.

In other words, we live in a world of price fluctuations. That’s nothing new, of course, but are you prepared to make adjustments? I suspect most will just roll into 2026. By that, I mean they’ll shrug their shoulders and make no significant planning adjustments. Not for their lifestyles; not for their spending habits. And those failures have a way of leading to debt issues.

So today, I’d like to offer some thoughts that might be helpful as we enter 2026. First, it’s not just ACA premiums that have skyrocketed. I don’t have a solution for the high cost of healthcare, but I can suggest that you consider higher deductibles. Also, see if you’re eligible for either a Health Savings Account (HSA) or Flexible Spending Account (FSA). With either, you can pay for some of your out-of-pocket healthcare costs with pretax dollars. So, your health expenses would be more tax efficient. It may take some effort to see if you’re eligible, but it could provide significant savings if you are.

I also mentioned lifestyle changes. For a while, it seemed like second jobs and side hustles were in vogue. But recent studies indicate that the number of people with side hustles has dramatically decreased. So, with so many things costing more, you might want to consider a part time job.

Banks will notify you when you have CDs about to mature. If you don’t advise otherwise within 10 days of maturity, many will automatically renew. Be proactive. Instruct the bank not to renew. Take the time to shop other banks. Better yet, talk with your financial advisor. I’m confident a good advisor can steer you into a more favorable position.

I believe 2026 will bring a lot of talk about AI and affordability, and with it, a fair amount of choppiness in the financial markets. It also appears interest rates will be trending lower. That should help the business community, but not the interest on your bank deposits.

I also think ever-changing demographics will impact the financial markets. The graying of America is a well-known story. Now, experts believe the 18-year-old demographic will be in the spotlight for 2026, making it a key target for advertisers. It will be interesting to see how firms market to both seniors and young adults.

So, will you just roll into 2026? Or will you Be Prepared?