As an affordability crisis meets stagnant wage growth, many Americans are entering 2026 with significant concerns, making it vital to take proactive steps to stabilize their personal finances.
Furthermore, a major tax overhaul is being implemented under the Republican-led “big, beautiful” law, or OBBBA, which offers potential advantages for those who navigate the new regulations effectively. Financial experts note that other shifts, such as potential interest rate reductions from the Federal Reserve, could also influence your bank account in the coming year.
Approximately 84% of Americans have established new financial resolutions for 2026, such as opening high-yield savings accounts or building emergency funds, according to a recent Vanguard study. This represents the highest percentage since the firm began tracking consumer <a The last few weeks of the year are a great time to review your finances, especially around saving, and it's important to know how you might be impacted by the new tax law," Sabino Vargas, a certified financial planner and senior financial advisor for Vanguard, told CBS News.
Here are some tips to get your financial house in order as you prepare for the new year.
Prepare for new tax changes
The OBBBA, the spending and tax bill signed into law by President Trump on July 4, establishes new tax deduction rules for many Americans, including seniors and workers who earn tips or overtime.
