Reflect and reset: 5 important financial questions to ask yourself at the start of 2026

You may set resolutions at the start of 2026 to develop new habits and make positive lifestyle changes. The beginning of the new year could also be a good opportunity to review and reset your financial plan.

Reflecting on the past year and making changes could mean you’re better prepared for the future.

Here are five important questions to ask yourself at the start of 2026.

1. Have my financial goals changed?

When creating your financial plan, we’ll start by asking about your goals in life. All the recommendations we make are designed to help you achieve these aims.

However, your goals may change over time. For example, your plans for retirement might be different as you get older and your priorities shift. After significant life events such as having children or grandchildren, you might have new goals like helping them fund their education or buy a home.

That’s why it’s useful to ask yourself whether your financial goals have changed at the start of the year. If they have, we can discuss whether you need to adjust your financial behaviours to reflect your new aims.

2. What challenges could I face in the year ahead?

2025 was an eventful year for many of us, and some of the financial difficulties you likely faced will continue in 2026. You may want to reflect on the past year and ask yourself what challenges lie ahead, so you can be prepared.

This might include:

Tax changes announced in the Budget
Stubborn inflation
Uncertainty about interest rates
Market volatility.

All these hurdles could affect your ability to build wealth for the future. But with our support, you can adapt, so you’re able to overcome any difficulties.

3. Does my budget need updating?

Budgeting is at the core of financial planning. You need to track and control your spending, so you can balance short-term financial obligations with saving for the future.

However, if you set your budget a long time ago and haven’t updated it since, it might not be suitable for your current situation.

Inflation means that your outgoings are likely increasing year on year. If you haven’t adjusted your budget to account for this, you might be spending more than expected, meaning you have less disposable income to contribute to savings.

Reviewing your budget ensures that you account for all spending and have a clear picture of your finances. You may also be able to identify areas where you could reduce certain expenses.

4. Is my retirement plan on track?

Saving for retirement is a key part of your financial plan. If you’re contributing to your pension and other savings each month, you’re on the right track.

But as living costs rise, the amount you need to fund your retirement is also increasing. If you’re not saving enough each month, you risk falling short of your dream lifestyle. That’s why it’s important to review your retirement plan.

We can use cashflow planning software to consider your current contributions and model what level of savings you’re likely to have at your chosen retirement age. This will give you an idea of whether you’re saving enough, and you can increase your contributions if necessary.

You should also check how your pension savings are invested. With our support, you can review your investment strategy to make sure you’re generating adequate growth in the lead-up to retirement.

5. Am I prepared for the end of the tax year?

The start of the calendar year is a good time to think about the new financial year. The current tax year ends on 5 April, at which point several important allowances and exemptions reset.

These include your:

ISA allowance
Pension Annual Allowance
Capital Gains Tax (CGT) Annual Exempt Amount
Inheritance Tax (IHT) annual gifting allowance.

Many of these allowances can’t be carried over to the following year, so if you fail to use them, you could miss important tax planning opportunities.

We can prevent this by helping you prepare for the end of the tax year and explaining all the available allowances and exemptions.

Get in touch

We are here to help you review your finances at the start of the new year.

Please contact us at hello@ardentuk.com or call or WhatsApp us on 01904 655 330. As an award-winning financial advice company with advisers included in the 2025 VouchedFor Top Rated guide, we can assure you that we’re a bona fide company providing excellent advice and high-quality service.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.

The Financial Conduct Authority does not regulate cashflow planning or tax planning.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available.

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.

The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.

Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.