Smart Money Moves to Make Before the Year Ends

‍As the holidays approach and the year winds down, October is the perfect time to take stock of your finances. Between the bustle of gift shopping and year-end deadlines, a few smart money moves now can make a big difference later. From maximizing tax advantages to planning ahead for 2026, these strategies will help you finish strong and start the new year with confidence.

1. Finalize Your Holiday Budget

Lock in your spending plan now to stay stress-free later. Make a list of recipients, set gift limits, and take advantage of early holiday deals. Using cash-back rewards or points can help stretch your budget—just make sure to pay off balances before interest kicks in.

2. Max Out Tax-Advantaged Accounts

If possible, boost your 401(k) or IRA contributions before the year closes. You’ll lower your taxable income while strengthening your retirement savings. And don’t forget your HSA or FSA—use any funds that won’t roll over to next year.

3. Check Your Withholding and Estimated Taxes

If you earned extra income from freelance or side projects this year, it’s worth checking your tax withholding now. Adjusting before your final pay periods can help avoid unexpected tax bills come April.

4. Prepare for Property Taxes and Insurance Renewals

Fall is prime time for property tax bills and insurance renewals. Review your policies to ensure you’re properly covered and shop around for better rates if needed. Setting aside funds for these payments now will save stress later.

5. Audit Subscriptions and Spending

Before the new year renewals hit, scan your bank statements for recurring charges you don’t need. Cancel unused subscriptions and redirect those funds toward savings or debt payoff.

6. Review Your Financial Goals and Plan for 2026

Take a moment to reflect on what went well this year—and what didn’t. Check your progress on savings, investments, and debt goals. Look into other ways to put your money to work for you, like Texas Tech Credit Union’s Spend+ Cashback account or a CD. Then, schedule a “financial reset” weekend in early January to set your 2026 plan in motion.

7. Wrap Up Charitable Giving and Tax Planning

Donating before December 31 can make a positive impact and potentially reduce your tax bill. Consider gifting appreciated assets or taking advantage of annual gift exclusions if you’re supporting family members.

A few proactive steps now can turn financial chaos into clarity. By budgeting early, reviewing your goals, and optimizing taxes, you’ll head into 2026 feeling organized, confident, and ready to make the most of your money.

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