Keeping your financial resolutions on track for 2026 | News

MEMPHIS, Tenn. – Tracking your spending is key to keeping your budget on track.

As you start that process, here are some first steps that can help you turn your resolution into reality.

Your credit report is crucial. It’s how lenders decide your risk level, what they’ll loan you and your interest rate.

“Your credit score, your credit history is everything,” said consumer watchdog Teresa Murray with the public interest research group. “I mean, it drives so much of what else is going on in your life, the apartment that you can rent, the job that you can get, the car that you can borrow money for, the house that you want to buy.”

You are entitled to check your credit report for free every week. Use the website annualcreditreport.com – that address and no others which may charge you fees.

Look for errors – charges or accounts that shouldn’t be there and may drag down your credit score.

Murray also advised everyone to “Freeze” their credit. That way crooks have a harder time stealing your identity.

“But it’s believed that only maybe about 10% of consumers have their credit reports frozen,” Murray said. “And that can protect you from so much.”

Another protection – turn on multi-factor authentication for your financial accounts. You’ll get a notification when someone tries to log into your bank account or credit cards.

Murray also advised you to sign up for text or email alerts on your credit cards and especially on your debit card and bank account.

“If your account is being used improperly, you can jump on it,” Murray said. “You know, if somebody jacks your debit card and is spraying it all over town or using it online, you know you only have a limited amount of money in there and it could end up being all the money that you need to pay this month’s rent or buy groceries or whatever.”

One more piece of advice – double check that your doctors, dentist and preferred hospital are still in your insurance network.

Those networks can change every year. Staying in-network can help avoid big out-of-pocket healthcare expenses.