Overwhelmed woman stands in a messy kitchen
It’s no secret that the beginning of a new year is a popular time to make resolutions that will hopefully help improve your life and wellbeing, or even shake things up a little.
Last New Year, Narrative Research conducted a survey that found nearly half of Canadians had made resolutions for 2025, with six in 10 respondents saying their resolution was related to their finances (1). Other common areas of resolution were health, relationships and hobbies.
Even if your New Year’s resolutions aren’t specifically related to your personal finances, you can still find ways to set common New Year’s goals that are money-conscious and avoid spending on things you really don’t need to.
What’s more refreshing than a clean home? To start the year off right, spend time cleaning and clearing your space. Not only is this good for your home — allowing air to circulate and more efficiently heat and cool your home — it can translate to a clean mental slate, which helps you establish clear intentions and goals for 2026.
Aside from the essential scrubbing and de-cluttering, clearing out your closets of old clothes, shoes and other miscellaneous items can help you take stock of what you already own.
This is a good thing to keep in mind if you’re the kind of person who gets the itch to spruce up your wardrobe at the start of the year. By doing a deep clean, you are fully aware of what you already have/ don’t need to spend money on, and might even find some pre-loved items to donate to a good cause or re-purpose to suit who you are now.
Read more: Here are 5 expenses that Canadians (almost) always overpay for — and very quickly regret. How many are hurting you?
If your budget no longer suits your financial situation and goals, you’ll be able to tell sooner rather than later if you spend the time reviewing and assessing your spending (vs earnings).
The key is to be realistic and to determine if there are areas that could or should be adjusted.
For instance, maybe you need to cancel that streaming service that doesn’t even have your favourite show anymore and costs you $30 per month, or set aside more cash per month in a savings account to work towards the car you’ve been wanting to buy now that you got that pay bump.
You can use a budgeting app to set up your budget and track your finances so you remain organized throughout the year.
If you’re hoping to find a new hobby, meet like-minded people or expand your mind in 2026, it is possible to do it for free.
As the new year approaches make a list of things you’re interested in pursuing and research any free options available to you where you live.
One of the most reliable free services are public libraries, which offer far more than just books. Not only is signing up for a library card a great idea if you’re trying to read more this year, but they also offer workshops and activities that can help you learn a new skill or even meet new people.
Community centres, independent bookstores and volunteer organizations are other great places to seek out. Make a list of what types of activities and services are free in your community, and use them as a chance to try something new without forking over a chunk of your paycheque.
Having a financial goal ready for the new year can be a huge motivator, whether it’s a more long term goal like buying a house or retiring early, or a short term goal like taking a European vacation with your partner. Take some time to determine how much you need to save to reach that goal and then choose the savings account best suited to it. If you’re thinking more short term, a TFSA could be a good option. Whereas if you’re primary goal is to save for retirement, an RRSP could be better suited.
Volunteering, especially for a cause you are passionate about, can be extremely rewarding. Look into volunteer opportunities in your community that suit your personal schedule and passions and apply.
Volunteering is a great way to meet new people, give back to your community and even gather some perspective, especially when it comes to your own day to day life and finances.
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Narrative Research (1)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.