7 Ways to Get Ahead Financially in 2026

For some Canadians, the polar plunge is a New Year’s ritual. They gather on a shoreline, strip down to their bathing suits, then leap into the icy water en masse, shrieking in delight and shock. It’s a cold, courageous and unusual thing to do – but that’s the point. You’re shaking off the old and showing up to a new year wide awake and ready to do things differently.

Why not bring that same splash to your money?
Now’s your chance to dive into 2026 with a few purposeful moves, the kind you can stick with and build on. You might find opportunities to invigorate your finances and put every dollar to work more intentionally. Here are seven things to think about.

1. Start your days with intention
Small changes to your daily routine can sharpen how you think, including helping you make smarter money decisions. Instead of scrolling through your phone first thing in the morning, consider starting by clearing your head instead. Go for a walk, do some stretches or check off a few personal to-dos so they’re not nagging you all day. A less cluttered mind means fewer distractions when it’s time to focus on your finances. From there, you could set an intention or take an action that moves you closer to a financial goal. That could mean reviewing your portfolio, reading up on a potential new stock holding or learning something new about the markets. Even 15 minutes of focused attention can help you fine-tune your financial strategy.

2. Talk about money more often
Money is the number-one thing couples fight about¹ and a leading cause of divorce. Many Canadians worry about their kids’ financial futures or have questions about their aging parents’ retirement savings. Money is on our minds, yet many of us avoid the topic,² and that’s not helping anyone. Regular money conversations can make a difference to your financial and emotional well-being.³ You don’t need a formal sit-down. Even small, regular check-ins can improve financial confidence, reduce conflict and keep everyone aligned. The key is to listen without judgment and make money conversations a natural part of family life. Setting shared goals, whether it’s saving for a trip, a car or a home, can help you get on the same page. The more you talk about money, the easier it gets.

3. Get to know two new stocks
Is making new friends among your resolutions this year? You might want to think about meeting new stocks too. Expanding your portfolio doesn’t mean rushing into whatever everyone’s talking about. When a friend shares a hot tip in the group chat, it can be tempting to jump in, but only you can determine whether a stock fits your risk appetite, time horizon and investment plan. Consider challenging yourself to research two companies you’re curious about. You may want to look into a business’ fundamentals – whether it has solid financials, consistent earnings and a track record of navigating tough markets. It’s often a good idea to take the time to read quarterly reports and understand how the company generates revenue, and consider whether it aligns with your long-term goals.

4. Invest to make life richer
In his book The Art of Spending Money, Morgan Housel reminds us that wealth isn’t about luxury. Rather, it’s a tool that provides more freedom and flexibility around how (and with whom) we spend our time. But too often we spend to impress others or chase a quick hit of satisfaction, instead of investing in what actually makes life richer. Housel suggests thinking about spending in terms of minimizing future regret. When you look back decades from now, what will you wish you’d done? As he puts it, “Be proud of what you’ve built. The family you’ve built, the friends you’ve found, the memories you have, the wisdom you’ve accumulated…the people, not the stuff, are what’s actually meaningful.”

5. Prioritize paying down debt
High-interest consumer debt is one of the biggest barriers to building wealth. Using one or more repayment strategies can help you eliminate it faster. Some people tackle the debt with the highest interest rate first, an approach called the avalanche method. Others opt to pay off the smallest debts first, for quick wins that can help build momentum; this is known as the snowball method. If you’re juggling multiple debts, you could consider a debt consolidation loan and roll everything into one payment at a lower interest rate. Carrying credit-card debt? One option is switching to a lower-interest balance-transfer card, which can help you catch up on payments – just be sure to check when the promotional rate ends and what the new regular rate will be. Whatever approach you choose, stick with it. Every payment gets your balance closer to zero.

6. Make tax planning a year-round habit
Paying taxes (all types) is the single biggest expense for most Canadian families, more than housing, food and clothing combined. Yet many of us only think about tax strategy at the last minute, missing opportunities to save. A new year is the perfect time to change that. For example, you could check which tax credits and deductions you may be eligible for on the CRA website. If your spouse earns less than you do (or vice versa), using a spousal RRSP could lower your family’s overall tax bill. Where you hold your investments has tax implications too. Registered accounts allow investments to grow tax-deferred or tax-free, depending on the type of account, but there are contribution limits. Non-registered accounts are taxable but offer greater flexibility and have no contribution limits. You can learn more about how investment income is taxed here.

7. Keep more of what you earn
Investing fees can quietly erode your returns over time. You can’t avoid them entirely, but even a small reduction could make a significant difference in your portfolio’s value over time. Consider all the fees that may apply to your investments, including any trading costs, account-maintenance fees, management expense ratios (MERs), etc., and how to optimize. For example, commission-free ETF trading can help you build a diversified portfolio without racking up transaction costs. If you’re not sure what fees you’re paying, check statements from your investing platform or advisor, as well as trade confirmations.