December is a whirlwind — Christmas programs, holiday parties, travel plans, and trying to squeeze one more Target run in before the kids notice you slipped out. But it’s also one of the best months to pause and get your money in order before January comes rushing in.
Here are seven simple, practical money goals that will help you close out this year with confidence and start the next one feeling prepared — not panicked.
1. Do a Year-End Financial Closeout
Before you start making New Year’s resolutions, spend 30 minutes reviewing the numbers from this past year. Check your spending categories, note where you overspent, and highlight what worked. This simple review helps you walk into January already knowing what needs to change. If you want to keep it simple, you can use a program like Monarch or keep track of your spending in a Budget Binder divided by the months of the year.
2. Set a Holiday Spending Guardrail
Instead of tracking every holiday dollar, set one simple limit: a total number for all gifts and events. This keeps you from overspending emotionally (hello, last-minute stocking stuffers) and helps you enjoy the season without guilt. For our family, we use a Christmas Sinking Fund, which is a separate checking account. We save a little bit all year long into this account, and when we’re ready to start holiday shopping, we know what our budget is and have the money ready to spend!
3. Build a “Start Strong in January” Cushion
December often feels expensive, which makes January even harder. Send a small weekly transfer to a separate savings account labeled “January Cushion” — even $10–$25 makes a difference.
4. Refresh Your Sinking Funds for 2026
Start planning now for annual expenses that always catch you off guard. Set up or refill sinking funds for car maintenance, medical bills, gifts, kids’ activities, home maintenance, and next year’s holidays. And if you haven’t already, consider moving your Emergency Fund or your largest Sinking Fund into a high-yield savings account to earn even more as you save!
5. Lower Three Monthly Bills Before the New Year
Make three quick calls or log into three accounts to see if you can negotiate lower rates, switch plans, or cancel something you no longer use. It’s an easy way to free up cash before January.
6. Do a Subscription Audit
Unsubscribe from services you no longer use and look for annual renewals set to hit in January. Cancel now — not after the charge goes through.
7. Run a Pantry + Freezer Challenge Week
Choose one week this month to cook from what you already have. It’s a simple way to save money during one of the most expensive months of the year. At the end of your challenge, any food that you know you’re not going to eat/use before it expires, donate it to your local food bank.
Want help getting your budget in order?
If you haven’t checked it out yet, Getting Good with Money gives you the step-by-step plan to organize your finances, simplify budgeting, and finally feel in control. It’s the perfect read before January hits!
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