The new year is upon us and if you’re looking to make progress with your money in 2026, why wait until January 1 to start strategizing?
Bankrate’s Annual Emergency Savings report found that 8 in 10 Americans did not increase their emergency savings in 2025. In fact, 19% of respondents actually have less emergency savings now than they did at the start of the year.
If you’ve dipped into your savings this year — or just missed the mark on a big savings goal — here are some tips and tools to help you build up a stash of cash in 2026.
Get rid of expenses you don’t need anymore
Saving more money generally starts with auditing where how much you’re earning versus how much you’re spending and cutting out expenses for things that you don’t need or don’t use anymore. Many times, the culprit is unused or forgotten subscriptions and memberships.
Expense tracking platforms like Monarch Money and Empower help you categorize your expenses and automatically track transactions so you know exactly where your money is going. Monarch offers a 7-day free trial but the Empower app is completely free unless you decide to use the investing services.
Monarch
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Cost
$8.33/month (billed $99.99 annually); $14.99/month (billed monthly) – get 50% off your first year with code CNBC50
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Free trial
7-day free trial is available before subscribing
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Standout features
Net worth tracker, investment portfolio tracking, goal creation and progress tracking, budgeting and expense tracking
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Categorizes your expenses
Yes, but users can modify
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Links to accounts
Yes, bank and credit cards, as well as IRAs, 401(k)s, mortgages and loans
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Availability
Offered in both the App Store (for iOS) and on Google Play (for Android); web version also offered
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Security features
Utilizes industry-leading security practices, according to Monarch’s website
Pros
- Easy-to-navigate money-tracking dashboard, including a net-worth tracker
- Easily syncs to your bank, credit cards and other financial accounts
- Users can add collaborators for free
- Seven-day free trial
Cons
- Subscription is pricier than competitors
- Recommendations in the “advice” tab are generic
Empower
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Cost
App is free, but users have option to add investment management services for 0.89% of their money (for accounts under $1 million)
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Standout features
A budgeting app and investment tool that tracks both your spending and your wealth
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Categorizes your expenses
Yes, but users can modify
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Links to accounts
Yes, bank and credit cards, as well as IRAs, 401(k)s, mortgages and loans
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Availability
Offered in both the App Store (for iOS) and on Google Play (for Android)
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Security features
Data encryption, fraud protection and strong user authentication
Pros
- Free to use
- Includes money-tracking dashboard, plus a net-worth tracker
- Syncs to your bank and credit cards as well as other financial accounts
- The Currency blog offers financial planning tips
- Security features include data encryption, fraud protection and strong user authentication
Cons
- Budgeting features aren’t as comprehensive as other apps
- Investment management services come with cost
Once everything is laid out in front of you, you can decide where you can cut and save, then redirect that money into a savings account.
The cuts you make may not always mean hundreds of dollars in savings but every bit goes a long way.
Use a micro-savings or micro-investing platform
Not being able to save hundreds of dollars per month doesn’t mean you should completely give up on your goals to build your net worth. Micro-savings platforms like Oportun help you contribute small amounts of money to save or invest.
You connect your bank account to the app and create a savings goal, and Oportun automatically withdraws small amounts of money and saves it for you daily. The platform saves small bits of cash for you based on when you have bills due but you can set other savings guidelines so you can avoid overdrafts or running out of cash for your bills.
According to Oportun’s website, users save an average of $1,800 per year.
Oportun Set & Save
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Minimum balance
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Monthly fee
30-day free trial; $5/month
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Maximum transactions
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Excessive transactions fee
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Overdraft fees
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Offer checking account?
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Offer ATM card?
Add a new stream of income
According to Bankrate’s report, 44% of households reported decreased emergency savings as a result of decreased earnings. In other words, the less you earn, the less you may be able to save. Lower earnings can be the result of job loss, cuts to your hours, divorce and many other life circumstances.
And sometimes even when you make budget cuts, you only have so much room to save. And if you still won’t be on track to hit your savings goals after you’ve cut everything you possibly could, then you might need to consider creating a new source of income to reach those milestones.
Start with asking for a raise or promotion at your current job and if that isn’t possible, look for a part-time job, freelance work or a contract gig. Of course, it isn’t always easy to land a new gig even on a part-time basis. But there are still other options for earning more money. Try advertising your own independent freelance services. Creating your own side hustles lets you set your own hours and price, and you get to choose who you want to work with.
Many people use a site like Upwork to advertise their services and set pricing. If online services isn’t your cup of tea, try side hustles like pet sitting — the Rover app lets you find opportunities to pet sit in your neighborhood.
Make deposits in a high-yield savings account
High-yield savings accounts pay you more interest than traditional savings accounts do, which means that your balance grows more meaningfully every month even if you don’t make new contributions. You may not earn hundreds of dollars in interest yet (unless you deposit thousands into your account) but it’s still better than nothing at all.
Marcus by Goldman Sachs High Yield Online Savings
Goldman Sachs Bank USA is a Member FDIC.
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Annual Percentage Yield (APY)
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Minimum balance
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Monthly fee
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Maximum transactions
At this time, there is no limit to the number of withdrawals or transfers you can make from your online savings account
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Excessive transactions fee
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Overdraft fee
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Offer checking account?
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Offer ATM card?
Pros
- Strong APY
- No minimum balance or deposit
- No monthly fees
- No limit on withdrawals or transfers
- Easy-to-use mobile banking app
- Offers no-fee personal loans
Cons
- Higher APYs offered elsewhere
- No option to add a checking account
- No ATM access
American Express® High Yield Savings Account
On the American Express site
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Annual Percentage Yield (APY)
3.40% APY as of 11/26/2025
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Minimum balance
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Monthly fee
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Maximum transactions
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Excessive transactions fee
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Overdraft fee
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Offer checking account?
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Offer ATM card?
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American Express National Bank is a Member FDIC.
Pros
- Strong APY
- Min deposit / Min balance = $0
- $0 monthly fees
- 24/7 customer support
- Helpful “Tips & Tools” section on website
Cons
- Higher APYs offered elsewhere
- No option to add a checking account
- No ATM access
- You can’t deposit a check via the mobile app
The Annual Percentage Yield (APY) as advertised is accurate as of 11/26/2025. Interest rate and APY are subject to change at any time without notice before and after a High Yield Savings Account is opened. Interest Rate and APY of a Certificate of Deposit account is fixed once the account is funded
There is no minimum balance required to open your Account, to avoid being charged a fee, or to obtain the Annual Percentage Yield (APY) disclosed to you
For purposes of transferring funds to or from an external bank, business days are Monday through Friday, excluding federal holidays. Transfers can be initiated 24/7 via the website or phone, but any transfers initiated after 7:00 PM Eastern Time or on non-business days will begin processing on the next business day. Funds deposited into your account may be subject to holds. See the Funds Availability section of your Consumer Deposit Account Agreement and Savings Schedules for more information.
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