It's the most wonderful time of the year! As winter approaches and the holidays are officially underway, millions of Americans are ready to shop and purchase the perfect gifts for their loved ones.
It's no secret this time of year brings immense joy for everyone around. People come together, work slows down, and families are gearing up for moments of reunion. The snowy atmosphere adds peace to the air, and naturally we're pausing to take it all in.
With this built in slow time that this season brings, that also means it is the perfect chance to re-establish goals for the new year. Whether it is fitness targets, lifestyle changes, or professional aspirations, many people are starting to resurface what the upcoming year could look like.
Especially in the financial space, the holidays offer the best time for families to reset their financial health. Amid the holiday shopping, travel, and end of year priorities, people are reaching points when money is particularly tight. That's why now more than ever, families should be taking advantage of the slower schedule to look closely at where they stand financially.
“We're officially in the home stretch of the year and new year's resolutions are starting to take shape in the back of most people's minds. The holidays give us time to slow down and this is one of those rare windows where you have some extra space to set your financial goals for the upcoming year. Now is the time to evaluate what's working financially and what needs to shift while you have the time to reflect on the past year and look toward the future. The financial clarity you build today will carry far more weight than any rushed resolution at the beginning of the year,” explains Michael Scarpati, CEO of RetireUS.
Data proves Americans this year are also anticipating to reach holiday debt at all-time highs, which is why the urgency feels more real. One recent report claims it is a very difficult time for many, where 65% of Americans say it is nearly impossible to know how much to “safely” spend this holiday season. Additionally, on average, nearly 1 in 3 people expect to go into debt due to the holiday spendings.
Much worse, consumers are feeling the pressure even more intensely because many of them are still experiencing the financial weight from last year. In a new survey by Consolidated Credit, 36% of Americans report still paying off debt from the 2024 season.
The steps to financial clarity
With the stark numbers in mind, the end of the year should be a financial checkpoint for everyone. When everything slows down, it becomes easier to look at patterns honestly and acknowledge what is working versus what is holding families back.
For many, the steps to financial recovery starts by looking at the money transparently and holistically. It is about first reviewing where the end of the year budget stands, and what needs to change in order to move ahead in the new year. Noticing where the money actually went throughout the year is one of the best ways to gain clarity.
The next important step is to map out financial goals for the upcoming year. This looks like creating a strategic plan of what the financial intentions are and their given timelines. That could mean anything from paying off debt, contributing more to retirement, or even gaining professional guidance. When the goals are clear, financial confidence becomes even more evident.
This season also comes with the great opportunity to assess current habits. The holidays reveal so much of where the money goes emotionally, so by taking control of the patterns now, people can walk into January with an awareness that prevents them from repeating the same cycle year after year.
Let the holidays begin
As many folks step deeper into this holiday reset, let this time spark the financial strength we've all been waiting for. The end of the year is certainly a time to be celebrated, but it is also the most meaningful moment to make the money count.
After all, the new year is coming whether anyone is ready or not. But with proper intention today, almost anyone can approach 2026 with a much clearer and healthier financial mindset.