2026 Year-End Financial Checklist: 10 Money Moves to Make Before the New Year

The end of the year brings plenty of reasons to celebrate with friends and family. But before you wrap up 2026, take a little time to review your finances, too. A few year-end financial planning steps now can help you make the most of your money, prepare for tax season and start 2027 on stronger financial footing.

Centric Credit Union has partnered with Summit Financial to create this 2026 year-end financial checklist with practical money moves to consider before the new year.

1. Review Your Retirement Contributions

Take a look at how much you’ve contributed to your 401(k) or other retirement plan this year. If your budget allows, consider increasing your contributions and taking advantage of any employer match.

For 2026, the annual 401(k) contribution limit is $24,150 for individuals. Additional catch-up contributions may be available to eligible participants age 50 and older.

You don’t have to max out your retirement account to make progress. Increasing your contribution by even a small amount can be a worthwhile year-end financial move.

2. Check Your Required Minimum Distribution (RMD)

If you have a retirement account subject to required minimum distributions, make sure you’ve taken the appropriate distribution for the year and understand your deadline.

If you’re unsure whether an RMD applies to you or how much you need to withdraw, consider talking with a qualified tax or financial professional.

3. Use Your Flexible Spending Account (FSA) Funds

Have money left in your flexible spending account? Check your balance and review your employer’s plan rules before the end of the year.

Some FSA plans allow a limited carryover or grace period, but these options depend on the specific plan. Don’t let an approaching deadline catch you by surprise.

4. Make a Plan for Paying Down Debt

The end of the year is a good time to review your credit card balances, interest rates and monthly payments.

If you have extra money available, consider putting it toward high-interest debt while continuing to make payments on your other obligations. Even if paying off your debt completely isn’t realistic right now, choosing a specific debt-paydown goal for 2027 can help you make progress.

5. Review Your Investments

If you have investments outside of your retirement accounts, review your portfolio and make sure your asset allocation still aligns with your goals, timeline and comfort with risk.

Depending on your circumstances, tax-loss harvesting may also be something to discuss with a qualified tax professional or financial advisor before the end of the year.

6. Check Your Emergency Savings

Unexpected expenses don’t take a holiday. Review your emergency fund and consider whether your savings would give you enough breathing room if an unexpected car repair, medical bill or other expense came along.

A common goal is to have three to six months of essential expenses saved, but don’t let that number discourage you. If you’re starting from zero, building even a small emergency fund is progress.

7. Get Organized for Tax Season

Don’t wait until April to start gathering your financial records. Before the new year, organize documents related to income, charitable contributions, deductible expenses and other potential tax information.

You can also review whether you typically itemize deductions or take the standard deduction and make a plan for the upcoming tax season.

8. Review Your Charitable Giving

If charitable giving is part of your year-end plans, keep records and receipts for your contributions and make sure you understand the current tax rules that apply to your donations.

If you’re considering a larger charitable contribution or have questions about its potential tax treatment, a qualified tax professional can help.

9. Review Your Healthcare Expenses

If you’ve already met your health insurance deductible, check whether you have planned, medically necessary healthcare expenses that make sense to complete before your plan year resets.

Don’t schedule care you don’t need simply for a potential financial or tax benefit. But if you’ve already been planning a procedure, appointment or other eligible care, the end of the year may be a good time to review your options.

10. Set One Financial Goal for 2027

You don’t need to completely overhaul your finances on January 1st.

Choose one financial goal you can realistically work toward in 2027. Maybe you want to build an emergency fund, pay down a credit card, increase your retirement contributions, save for a major purchase or simply get better organized.

Small financial steps can add up over time. Choose one goal, make a plan and give yourself a place to start.

Start 2027 With a Financial Plan

The end of the year is about more than checking items off a list. It’s an opportunity to look at where your money has been, decide where you want it to go and make a plan for the year ahead.

To learn more about the investment services provided by Summit Financial, visit Summit Financial.