The holidays are a wonderful time to celebrate with friends and family, but they can also leave your wallet feeling a little light. As a mortgage broker in Alberta, I often see clients wondering how to bounce back financially after the holiday season. Whether you’re a new homebuyer, a homeowner, or planning to buy in the year ahead, taking a few smart financial steps now can set you up for success in 2026.
Review Your Holiday Spending
Start by looking at what you spent over the holidays. Take a close look at credit card bills, bank statements, and any other expenses. Knowing exactly where your money went can help you identify areas to cut back in the coming months. If you used credit for gifts or travel, make a plan to pay it down quickly to avoid high interest charges.
Update Your Budget
Now is the perfect time to adjust your monthly budget. Consider all your regular expenses, like mortgage payments, utilities, and groceries, and compare them to your income. If your holiday spending left you short, look for small changes that can free up money for savings. Even simple adjustments, like cooking at home more often or delaying non-essential purchases, can make a difference.
Revisit Your Savings Goals
If you’re planning to buy a home or make improvements to your current one, your savings goals may need some attention. The start of a new year is a good time to check how much you’ve saved for a down payment, emergency fund, or renovations. Setting clear, realistic goals now makes it easier to stay on track throughout the year.
Plan for Mortgage or Refinancing Opportunities
Interest rates and housing market conditions can change quickly. If you’re thinking about buying a home in Alberta or refinancing your current mortgage, reviewing your options after the holidays can give you an advantage. Meeting with a mortgage broker can help you understand your borrowing power, explore current rates, and plan for your next steps.
Avoid Impulse Purchases
Boxing Day sales and post-holiday deals are tempting, but buying on impulse can set back your financial goals. Focus on essentials and planned purchases only. Keeping your long-term financial health in mind will pay off, especially if you’re saving for a home or trying to reduce debt.
Review Your Credit
Your credit score is a key factor in mortgage approval and interest rates. Take a moment to check your credit report for errors and pay down any high balances. A healthy credit score can save you money on future borrowing and put you in a stronger position if you plan to buy a home in 2026.
Final Thoughts
The post-holiday period is a perfect time to reset your finances and focus on your long-term goals. By reviewing your spending, updating your budget, and planning for mortgage opportunities, you can start the year in a strong financial position. If you’re thinking about buying a home in Alberta or want to explore your mortgage options, I’m here to help guide you every step of the way.
