4 Tips For Increasing Your Wealth In 2026
Parween Mander started side hustling while still working her 9-to-5 job, saved $100,000 by age 26, got laid off from her job in 2021 and eventually saved $300,000 by age 30. Now she’s a money coach specializing in helping women and first-generation Americans build their own wealth.
While thinking of our financial resolutions as we look into the new year, CNBC Select spoke with Mander on her four tips for growing our money. Plus, some of our very own team members share how they are getting financially ahead.
What we’ll cover
- Have a clear picture of your cash flow
- Cut costs
- Increase your income
- Get more bang for your buck when you save
- Plus, how our editors plan to increase their wealth in 2026
Have a clear picture of your cash flow
If you have no idea where you financially stand, this will make it harder to find ways to save and invest. Your first task is to do an audit of the last three months’ worth of credit and debit card statements, Mander recommends.
Compare how you’re spending with what you’re bringing in each month and note the month where your cash inflow and outflow had the biggest difference; what did your spending look like that month that you had more money left over?
Cut costs
To start growing your wealth, it helps to have a goal for your savings — and a plan for cutting costs to free up cash to get there.
Mander suggests clearing out subscriptions and memberships that you’ve forgotten about and don’t use. Then, try to negotiate some bills with your utility providers. All of this can help you free up cash flow.
There are also some more meaningful savings to consider, like housing. “Can we shift housing costs by looking for a place with lower rent, getting a roommate or even potentially moving back home?” Mander asks.
Increase your income
When you can’t cut anything else from your budget and still need to save more, it might be time to increase your income.
“Whether that’s negotiating at work, taking a part-time job or doing a side gig,” Mander says. “That’s something I tell my clients to do if they want to change the reality of those numbers.”
Get more bang for your buck when you save
When you deposit money into a traditional savings account, you typically earn interest that’s so low that your cash is literally losing its value to inflation over time. But using a high-yield savings account can combat that and help you grow your cash that’s just sitting there.
Mander recommends a no-fee high-yield savings account.
And, of course, don’t discount the power of investing your money. If you already have a workplace 401(k) account, you’re already automatically doing this. But you can also invest outside of a company-sponsored retirement plan by contributing to a Roth IRA, traditional IRA or even a taxable brokerage account.
Plus, how our editors plan to increase their wealth in 2026
Below are some ways that CNBC Select staff plan to get financially ahead in the new year.
Regularly check net worth
As the saying goes, what doesn’t get measured doesn’t grow — and that applies doubly so for your money. One reporter on our team uses an expense tracker app to also track her net worth.
“It’s just rewarding every time I see it go up a little more and more,” she says. Many apps like Monarch and Empower have this capability built in.
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
Plan ahead
An editor on our team also suggests trying to get ahead of some big upcoming expenses like travel. You can budget better for these kinds of things if you try not to buy flights at the last minute (but, of course, we know that sometimes life happens and you have no choice but to buy that next-day flight back home). Plus, last-minute flights are often more expensive than ones you book in advance.
She plans to use this planner to get a bird’s-eye view of her money in 2026 so she and her family can plan ahead as much as possible.
Work with a professional
One of our reporters has a pretty unique situation that he’s turning to financial advisors to help with. It’s another reminder that sometimes the best thing you can do for your money is to get help early. You’ll minimize mistakes and take steps that actually move the needle on your goals.
Automate contributions
The “set it and forget it” approach lets you build wealth while barely lifting a finger. You can schedule recurring deposits into savings accounts or investment accounts, but you’ll have to do some math to figure out how much you can reasonably automate without overdrafting.
Another reporter did this with her high-yield savings account this year. She automatically contributed $10 to $20 per week to save for home-related and pet-related expenses.
“When you have a little bit withdrawn periodically, it takes saving off your to-do list and it really does add up,” she says. “I have a somewhat ambitious goal of trying to max my Roth IRA again next year. Each year, I take the annual contribution amount (in 2026, it’s $7,500) and divide it by 52. That’s $144 a week. Then I go automate that.”
Side hustle
One team member swears by side hustles. Between teaching yoga classes part-time and pet sitting, she’s made an extra $6,000 to $8,000 this year.
However, she also warns that side hustles like pet sitting require steady clientele to really make meaningful money. Picking up additional yoga classes to teach also helps but, overall, she says that you have to sometimes work hard to make sure your side hustles are consistent.
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Meet our experts
At CNBC Select, we work with experts who have specialized knowledge and authority based on relevant training and/or experience. For this story, we interviewed Parween Mander, an Accredited Financial Counselor and money coach based in Canada.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
