It might be the last thing you want to think of at the end of a year full of financial stress, but your financial to-do list can make 2026 much better.
As 2025 draws to a close and the focus shifts from deadlines to doing what really makes us happy, the last thing most people want to think about is their financial circumstances, although this is exactly when an end-of-year to-do list can make all the difference to your stress levels come January.
Melody Cloete, FAIS representative and training specialist at Bidvest Life, says the transition between years is a natural pause point, an opportunity to look back at what worked, what did not and what can be improved.
“Start with your budget. Pull up your 2025 bank statements or budget and ask the hard questions: Where did I overspend? Which habits helped me save and which did not? Did I spend on things I do not need? This kind of reflection helps you spot leaks long before the dam wall breaks.”
Once you assessed the year behind you, build your plan for the one ahead, she says.
“Create a January budget that includes fixed costs, essentials and a small buffer for nasty surprises.
“With back-to-school costs and fees, annual debit orders and service increases all hitting at once, it is known for being an expensive month.”
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Topping up your savings
If you can make even a small top-up contribution to your emergency fund, do it before the year ends. Having three to six months’ worth of after-tax salary readily available is ideal, but the real victory is simply getting started. If you have any tax-free savings, ensure you maximise your contributions before the annual limit resets.
Then review your long-term savings and retirement fund contributions to see whether you can increase them.
Taking stock of your debt
Debt review does not have to be overwhelming, Cloete says.
“Look at what you owe, the interest rates attached to your loans and the progress you made with your repayments. Going forward, prioritise paying off the high-interest accounts first, or use the ‘snowball method’, where you pay off the smallest debt as quickly as you can and then add that monthly amount to the next-smallest repayment.
“If your debt is overwhelming, consider consolidation, but only if the new loan is genuinely cheaper.”
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Spend your bonus with intention
If you are fortunate enough to receive a bonus, think about how it can compound your savings over the long term, or lighten your monthly load in 2026. Paying down debt, investing in home improvements that reduce costs, topping up savings, or pre-paying school fees can amplify its impact.
Then, because balance is key, reward this responsible behaviour with something small: something meaningful and memorable for you and your family that contributes to your emotional wellbeing.
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Getting your policies and insurance cover in order
Year-end is also the perfect time to check your protection. Life and disability cover, income protection, medical aid and short-term insurance are not ‘set and forget’ products. Start by updating your policy details, beneficiaries and powers of attorney. Check what is covered and what is not. Refresh your will. File your statements and tax documents. Store everything safely, where someone you trust can find it if they need to.
Cloete says many people underestimate how quickly life changes.
“Most long-term insurance policies renew automatically each year, which means policyholders do not always pause to check whether their cover still suits their responsibilities and circumstances. A simple annual review can prevent the risk of being underinsured or paying for cover you no longer need.”
She says income protection, in particular, should be a priority. Temporary illness and disability happen more often than people realise and when they do, income protection can be the financial lifeline that keeps your household stable.
The Bidvest Life 2024 Claims Report shows that its policyholders were 15 times more likely to claim on income protection than on death benefits, with younger South Africans (under 40) driving 47% of income protection claims but just 4% of death claims.
