As we roll into 2026, many are contemplating changes in their finances to avoid falling further behind as things like escalating food costs and housing prices cut into their bottom line, but it’s tough to make changes without a plan, says a licensed insolvency trustee.

Nancy Sneddon of BDO Debt Solutions says we like to think that we can keep it all in our head, but that approach doesn’t usually work very well. She says there are many ways to keep track of what’s coming in and going out, even if it’s a spreadsheet or the old-fashioned pen and paper. Some use envelopes to collect and file receipts to keep track of where the money is going.

And sometimes when a person is on a clear path, everything changes in an instant.

“Maybe you got a promotion or lost your job. Maybe you or a family member was off with an illness,” says Sneddon. “Expenses can change, too, especially with food prices predicted to escalate in 2026, but if you’re not tracking expenses, it’s difficult to adjust your budgeting accordingly.”

Your Money with Nancy Sneddon airs Saturday afternoon on VOCM.