Five financial goals to achieve in 2026

The start of a new year often motivates Canadians to make positive changes, including improving their finances. But without clear and achievable goals, those changes can be difficult to turn into reality.

Improving your finances isn’t about making drastic changes. In fact, small steps can often create the biggest impact. That means employing strategies like automating your savings, diversifying your portfolio and protecting your accounts. Here are five financial priorities that can help set you up for a strong year ahead.

1. Take stock of your financial situation

Sometimes you need to look back before you can move forward to figure out what worked well and where adjustments may be needed. Were you able to stay within your budget and put money aside for your savings? Are you closer to your financial goals now than you were a year ago? Use these insights to help you set clear objectives for 2026.

It also helps to have tangible numbers to measure your progress. Whether you’re planning to buy a home, take a vacation or save for a rainy day, our savings calculator can help you understand how much you need to save to achieve your goal within your desired timeframe. If you’re working toward saving for retirement, you can use our retirement calculator to see if you’re on track. When it comes to something as important as your future, the more information you have, the better.

2. Automate your savings

A great savings strategy is one you don’t have to think about. Automating contributions to your investment accounts can help simplify your savings process and reduce the likelihood of missed deposits. Pre-authorized contributions (PACs) allow for regular, automatic transfers from your bank account to your investments, helping you make consistent progress toward your goals.

Where that money goes depends on your goals. There are several registered investment accounts you can leverage to grow your savings and receive tax benefits, including Registered Retirement Savings Plans (RRSPs) if you’re saving for retirement, First Home Savings Accounts (FHSAs) if you’re saving for your first home and Tax-Free Savings Accounts (TFSAs) if you’re looking for more flexibility with your savings goals.

You can also hold ETFs within registered accounts like RRSPs, TFSAs or FHSAs, which can help you maximize tax advantages while staying invested for the future. When you’re saving for long-term goals, consider ETFs that combine growth potential with stability.

Broad-market equity ETFs provide diversified exposure to equity securities. For added resilience, low-volatility factor ETFs typically focus on stable earnings and fundamentals and aim to provide lower price volatility than the broader market.

3. Diversify your portfolio

Diversification is widely regarded as a smart investment strategy because it typically involves spreading investments across different asset classes, sectors and regions, helping reduce risk while still aiming to generate returns. Building a diversified portfolio typically requires ongoing monitoring and periodic rebalancing, tasks that demand both time and expertise if managed independently.

If you prefer simplicity, Fidelity All-in-One ETFs offer a diversified portfolio inside one ETF. They’re automatically rebalanced, so your investments stay diversified without having to adjust them yourself.

4. Stay informed and invested

While keeping up with market trends can be informative, maintaining consistent contributions and keeping your portfolio diversified often matters more for long-term success. In fact, those who stay invested during market downturns may benefit more when the markets recover.

Having said that, if you do follow market trends, it’s important to consider your sources and whether they have the experience and professional skills to provide knowledgeable guidance. If you’re looking for information you can trust, both the FidelityConnects and The Upside webcasts provide expert perspectives on the latest market developments.

5. Enhance your digital financial security

There are some easy steps you can put in place right now to protect yourself from potential cyberattacks and financial fraud. Every financial account you own should have two-factor authentication enabled, which stops unauthorized logins even if your password gets compromised. The setup is quick and simple, and the protection far outweighs the minor inconvenience of entering codes when accessing accounts from new devices.

Your passwords might need some TLC as well. Each account requires its own strong, unique credentials that get updated regularly. Password managers can help by securely storing all your login information in one spot.

Of course, there’s more to keeping your money safe than updating your passwords. With AI, cybercriminals can now replicate the voices and faces of people you know, in addition to using phone calls (known as phishing) and text messages (smishing). This approach typically involves manufacturing a time-sensitive crisis in an attempt to get your account information. Knowing that these risks exist can help you look out for them.

It’s important to remember that your bank will never contact you out of the blue to ask for passwords or other personal information. If something feels off, call your bank or financial institution using the number on the back of your access card (if applicable) or from their official website. 

The bottom line

Taking these practical steps in 2026 can help you make progress toward your long-term goals and boost your financial confidence this year. For some extra guidance, a financial advisor can help you create a tailored plan to reach your goals this year and beyond.