50% of Americans Are Seeing 2026 Money Goals Derailed by Cost of Living: How To Trim Your Budget Today

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Although the rate of inflation has cooled since its peak in the summer of 2022, prices for basic goods and services have continued to rise. These cost-of-living increases are pinching the wallets of everyday Americans, with many fearing their money goals for 2026 will be derailed.

In fact, the most recent Harris Poll data published by the Journal of Accountancy shows that fully half of Americans with financial goals this year fall into this category. The rising costs of housing, groceries and utilities, among other things, are cited as preventing them from achieving what they planned. Here’s a closer look at the data, along with budgeting tips to help keep you on track if you feel like you’re falling behind.

Financial Ambitions Are Being Thwarted

While half of those surveyed see cost-of-living increases as a roadblock to their goals, there are other impediments as well. Unexpected expenses, such as medical bills, are cited by 41% of those surveyed, while 26% are concerned with job or income uncertainty. 

Unfortunately, the data doesn’t bode well in 2026, as many Americans struggled in 2025 as well. According to the survey, among those who set financial goals for 2025, an incredible 81% said they did not stick to them. As with the 2026 survey, rising living costs were cited as the most frequent reason.

Such a high percentage of Americans coming up short of their financial goals is a clear indication that many are feeling economic strain in the face of doggedly persistent inflation.

Setting Goals, Defining Them and Planning Are Key

Pamela Ladd, CPA/PFS, the senior manager of personal financial planning at the American Institute of CPAs, says the key to success is more than just setting goals. It’s about defining them clearly and planning around real-world obstacles. 

“Americans are determined to take control of their finances in 2026, but the reality of rising costs means planning and flexibility are more important than ever,” Ladd said in a news release from the AICPA & CIMA. “Defining your goals, choosing sustainable steps and getting help from online resources or a CPA professional can help consumers stick to their goals.”

As inflation remains stubbornly high, households are likely to continue to face price increases that strain budgets. Inaction in the face of these continued price increases will only make the matter worse. With that in mind, here are some incremental changes that can help you keep your budget in balance in 2026. 

Track Every Dollar

A good budget gives a job to every dollar. While it may seem obsessive to follow all of your money down to the penny, once you do, you might be surprised to see how much your “small, insignificant” purchases really add up over the course of a month.

Guardian Life explained that while you can use a spreadsheet or budgeting app to help you out, pen and paper works just fine as well. 

Drill Down on Recurring Costs

Want to keep more money in your pocket? See what’s automatically flowing out of your account every month. While you should certainly automate transfers to your savings and investment accounts, consider pausing or eliminating payments for things like streaming apps, subscription services and gym memberships, especially if you are not using them. 

While your first target should be discretionary spending, you may be able to reduce the monthly cost of some of your mandatory bills as well. For example, you could shop around to see if you can get a lower rate on your insurance or if you can refinance your auto loan at a lower rate.

Build a Mini-Emergency Fund First

You’ve likely heard the advice that you should save at least three to six months’ worth of expenses in an emergency fund. That’s a great long-term goal, but it’s daunting enough for some to think it’s pointless to even try.

To get yourself in the habit of building an emergency fund, start out small, with perhaps $500 or $1,000 in your account. The Consumer Financial Protection Bureau pointed out that even a small emergency fund can go a long way in terms of preventing financial surprises that derail your budget. Once you’ve got this “mini” fund in place, you can work on building something more substantial. 

Optimize Debt Repayment 

As explained by Fidelity, there are two primary strategies when it comes to paying down high-interest debt.

With the debt avalanche method, you’ll pay off your debts with the highest interest rates first. This reduces the total interest you pay over time and could potentially save you the most money over time.

The debt snowball method is more of a psychological strategy that involves paying off your smallest debt first. The idea behind the debt snowball method is that you build momentum by seeing accounts reach a zero balance faster.

The best choice is the one that keeps you on the path toward paying down your debt.

Reassess and Adjust Weekly

Creating a budget isn’t a “one-and-done” endeavor. To keep on top of your finances, it’s important to monitor your budget as often as weekly, according to Guardian Life.

Your expenses and even your income may change from month to month, so adapting to the ebb and flow of your cash flow is critical to keep your overall budget intact.

Even in benign inflationary environments, prices tend to rise over time. Creating a detailed budget and monitoring where your money is going is a great way to help keep your costs in check and your financial goals on track.

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