A New Year... A Fresh Start

As we begin a new year, we often look back and wonder, “Could I have done better?”  We review and evaluate the past year in hopes of adjusting our actions to improve outcomes across many aspects of our lives. This could be faith and family relationships, our physical and mental health, our efforts at work, volunteer hours, or our financial health.

Resolutions inspire us to do better, to reconcile mistakes in the past and focus our journey toward building a better life. We have all done it, looked at our financial health at the end of a year, and said, “Wow, I will be paying for that decision for a while.”  Where you are today in your financial lives may feel like you are at the base of a mountain, with a long journey to climb and reach the peak. It takes time, it takes baby steps, and it takes endurance, perseverance and accountability to reach our personal goals, goals for our physical health, livelihood or financial health.

Ascentra Credit Union wants to be your accountability partner for your financial health! One of the first baby steps you can take is to analyze your spending. Review where your hard-earned money is going for 30 days. This will help you create a monthly spending plan (or budget). Keep it simple, don’t overthink the categories of spending. Some utilize a method of need, want or savings.

• Needs include food, shelter, transportation, clothing, childcare, health care, etc.
• Wants may include hobby-related items, entertainment, fancy coffee, eating out, etc.
• Saving for a rainy day is important because you never know when that unexpected expense will happen.

In a zero-based spending plan, 50 percent of your income should be directed toward needs, 30 percent toward wants, and 20 percent toward savings. Then categorize everything, down to the penny!

If this seems overwhelming, visit one of Ascentra’s Financial Coaches at our branches! They can guide you through creating a spending plan that fits your needs. If you like technology, maybe you would like to use our Ascentra App to categorize and create your plan. Maybe pen, paper and a notebook work best or the envelope system is your go-to method. Whichever it is, get started!

The only way to reach the top of the mountain, is to create a plan and follow the plan. None of us can propel ourselves to the top of the mountain, we must make the climb. During 2026, let Ascentra help you achieve your financial goals so when you look back, you witness improvement in your financial health.

May your 2026 be filled with positive outcomes, and as always, we thank you for your continued membership!