As another year closes, many will be thinking about how to improve their financial well-being in the year ahead, from saving more and reducing debt, to improving their credit scores.

Equifax UK data reveals a clear seasonal uptick of consumer spending during November and December. This rise is evident across categories including jewellery, fashion, health, beauty and groceries, with spending in toy shops and electrical stores seeing an increase of over 50% and 30% respectively, when compared to the rest of the year.

This is followed by a sharp new year reset. Average supermarket spend drops to £202 in January, down from December highs and below the typical £221 monthly average, while new credit card openings rise by 23% as consumers proactively try to smooth out their seasonal spending.

A new year offers a great chance for a financial refresh, with consumers often taking this moment to reset their spending and credit habits. We want to help consumers ensure they are making progress to live their financial best – whether that’s saving for a special occasion, getting mortgage ready, or reducing their levels of debt.

Regularly checking your credit score is a valuable practice that helps you keep on top of your financial health, spot potential fraud, and understand what lenders see when you submit an application. Meanwhile small steps like reviewing your direct debits and sticking to a budget can all go a long way to making those 2026 resolutions a reality.

To help consumers kickstart their financial year with confidence, Equifax UK offers the following top tips:

Create a realistic budget: This is about control, not restriction, helping you allocate funds effectively, identify areas for potential savings, and stay on track. Start by gathering all financial information – payslips, statements, bills – to understand your income and expenditure. The Equifax ‘How to Budget Your Finances’ guide emphasises tracking both regular and one-off spending.
Get into the habit of monitoring your credit score and report: This provides a vital snapshot of your financial health, how lenders might view you, as well as helping to spot potential fraud. You can access your credit score for free with Equifax Basic.
Understand what impacts your creditworthiness: For example, showing you can use a credit card responsibly might help improve your credit score – but be sure to at least make the minimum monthly repayment to avoid fees, penalties and damage to your score. It’s also wise to keep a low credit balance, as using a large portion or all of the available credit might signal to lenders you are financially stretched.
Automate savings and payments: Help stick to savings goals by setting up automatic transfers to savings accounts, as well as Direct Debits for recurring bills, such as your credit card, to make sure you never miss a payment.

For more tips on budgeting and financial health, visit the Equifax Knowledge Centre to learn more about managing household expenses and staying financially resilient in the new year.