Table of Contents
- 1. Start with a Simple Financial Reset
- 2. Give Every Pound a Job
- 3. Build a Safety Buffer
- 4. Look at Your Debt with Kindness, Not Shame
- 5. Review Subscriptions and "Invisible Spending"
- 6. Do a Mini-Audit of Essentials
- 7. Make Saving Automatic
- 8. Separate Money for Short-Term and Long-Term Goals
- 9. The Biggest Money Mistakes People Make
- 10. Ways to Boost Your Money in 2026
- 11. A Gentle but Powerful Reminder
Now that the festive season has passed and January is finally here, if you're aiming to enhance your finances in 2026, you've landed in the right spot.
Thanks to finance expert Sam Hoyle, 39, you'll be able to achieve your financial goals this year.
If you have a credit card bill hanging over you and seek advice to improve your finances for 2026, we’ve got you covered.Credit: Sam Hoyle
Here, finance expert Sam Hoyle shares common financial mistakes and practical hacks you can implement.Credit: Sam Hoyle
Not only will you gain the opportunity to become financially savvy without needing every penny in your wallet, but with the guidance of this Chartered Accountant from Cockfield, you’ll also be able to establish a safety net to shield you from unexpected expenses.
Sam, who generates £141,500 annually and earns an impressive £12,100 monthly on average, stated: “January often feels like a fresh start, making it an excellent time to take a thoughtful look at your finances.”
“After the holiday expenses, many people fear they have 'done something wrong,' but this doesn’t mean you have to cut back drastically or feel guilty.”
“It’s simply about understanding where your money is going and making manageable changes.”
“You don’t need to completely overhaul everything or strive for perfection. Even a few simple steps taken now can make the rest of the year feel more stable, controlled, and significantly less stressful.”
Here, the Financial Strategist, who has nearly 20 years of experience assisting women in managing their finances, has shared her 11-step guide for 2026 to help you escape debt and achieve financial freedom.
1. Start with a Simple Financial Reset
First and foremost, according to Sam, it’s crucial to “start with the basics.”
Instead of using “complicated spreadsheets or trying to understand your money,” there are three essential steps to boost your income this year.
You'll need to “list every bill and subscription you pay each month,” “highlight anything you don't use or need,” and “create a straightforward monthly ‘money plan.’”
As Sam pointed out, cancelling unnecessary expenses “often frees up £50 to £150 a month immediately,” and having a plan will help you “see what’s coming in, what must go out, and what is left over.”
Sam stated: “This alone helps you feel more in control and prevents money from becoming a source of stress.”
2. Give Every Pound a Job
Once you’ve accomplished this, you need to ensure your money is working for you.
Sam explained: “The number one mistake I encounter is allowing money to sit in one account with no purpose.”
Creating a plan and adhering to what is affordable is the best way to get started.
Sam Hoyle
Instead, Sam emphasized the importance of having a Bills Account for regular expenses, a Spending Account for daily purchases, and a Savings or Safety Buffer Account.
The smart saver noted: “Separating your money ensures you always know what is truly available to spend, and it prevents the 'too much month and not enough money' dilemma.”
3. Build a Safety Buffer
Having separate banking pots is essential, and according to Sam, even small amounts count when it comes to creating a safety buffer.
She acknowledged: “Many women feel guilty about not saving 'enough,' so they end up saving nothing.”
“Start small. Even saving £5 or £10 a week accumulates over time. Your safety buffer protects you from unexpected expenses and prevents reliance on debt.”
“Aim to save one month's worth of bills, then gradually work up to three months.”
4. Look at Your Debt with Kindness, Not Shame
If you’re struggling with debt, it’s crucial to ensure your mindset is in the right place.
Sam emphasized: “Debt is extremely common, and ignoring it only exacerbates the situation.”
“Begin by listing balances, interest rates, and minimum payments, tackling the smallest balance first for motivation, or focusing on the highest-interest balance first to
Eze Chidiebere Paul
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