By ADRIANA MORGA, Associated Press

NEW YORK (AP) — The start of a new year usually brings new motivation to achieve goals like eating healthier or finally cleaning your basement. Many resolutions also focus on financial goals, such as paying off credit card debt, saving for a new house, or simply getting more educated about money.

“New Year’s is a really good time to review and realign your financial goals overall,” said Erica Grundza, certified financial planner at Betterment, an investing and savings app.

When building your goals for 2026, Grundza recommends focusing less on the past and more on an optimistic, yet realistic, vision for the future. She recommends that you focus on reestablishing the “why” behind your approach to money and how you want to make it work for your life. This can be as simple as saving $10 each week in a savings account, or a bigger goal like saving to buy a house in the coming years. It’s all about your own journey.

The Associated Press spoke with people who are making financial resolutions for 2026. Here’s a look at what they’re planning and how you can draw inspiration for your own resolutions:

Making achievable plans

Resolutions can easily turn into unattainable goals that feel more like a dream, said MarieYolaine Toms, a coach and founder of Focused Fire, a financial coaching company. To avoid setting unrealistic expectations, Toms follows a “no resolutions” mindset and instead focuses on making an actionable plan.

“What I say every year is that I am not making resolutions, I’m making plans that can be tracked forward, traced back, and tweaked until completion,” Toms said.

Recently, Toms encouraged her clients to check their credit report with the three credit bureaus and, based on their credit reports, make an attainable plan to start a savings account. For example, adding $25 to their savings account every week.

Whether you’re trying to pay off debt or save for a vacation abroad, the first step toward making a plan can be creating a budget. When making a budget, it’s best to find a technique that works for you, whether it’s the classic 50/30/20 plan or another budgeting style.

If you’re building a budget for the first time, you can find some expert recommendations here.

Paying off debt

After losing her job as a magazine editor in September, Rachel Pelovitz, 33, had to take a closer look at her finances. Having acquired a significant amount of debt over the last few years due to her husband’s year-and-a-half-long unemployment, Pelovitz explored several options to pay it off. Ultimately, Pelovitz and her husband chose to sell their house and work with a debt consolidation organization.

“Rather than rely on getting more debt, we are currently selling our house,” Pelovitz said.

Pelovitz’s main goal for 2026 is to pay off half of her credit card debt. And, with some of the money from selling the house, start investing moderately.

If you’ve also experienced a layoff, you can read expert recommendations to help you take care of your finances and your mental health here.

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Building a savings account

For Jenni Lee, 27, this is going to be the year when she gets strict about building her savings account. While Lee considers herself generally good with money, over the last six months she has overspent and wants to rein it in. The long-term goal for her savings journey is for Lee to buy a house.

“I’m now in my late 20s, I’m starting to really think about where I pinch now so it won’t hurt later when I finally decide to purchase and own a place,” said Lee, a tech worker and lifestyle TikTok creator based in Chicago.

As she saves for her future home and possibly a trip to South Korea, Lee wants to cut unnecessary spending on clothing items and eating out.

Social media microtrends are a common influence on people’s shopping decisions, and this can lead to overspending. If you’re looking to avoid spending money on microtrends, you can find experts’ recommendations here.

Building an emergency fund

If you are in a position to do so, having multiple financial goals you’re working towards at the same time can be a great way to speed up your progress. For Worcester resident Melanie Duarte, 23, her New Year’s money goals include paying off her student loans and credit card debt while building an emergency fund.

“I made sure to include it in my budget, even if it’s something as small as like $50. I just want to make sure I still put something in (my emergency fund) so that it eventually multiplies,” said Duarte, who owns a marketing agency.

Duarte’s family didn’t speak openly about finances when she was growing up. But, since she opened her own business, Duarte has been slowly working on rewriting her relationship with money.

If you’re looking to start an emergency fund or create better habits while you save, you can read some experts’ recommendations here.

Finding balance

Finding a balance between saving for your long-term goals while also making sure you enjoy your money is important, but it can also be challenging. After the death of her grandfather just a few years after retirement, Tiana Stewart, 26, felt that he didn’t get to enjoy the fruits of his labor. So, this past year, Stewart decided to enjoy her life and travel.

“I do understand saving for retirement is important, but I also want to enjoy my life and the money that I work for at this time, especially being in my 20s,” said Stewart, who lives in Maryland.

But now, as she reflects on her financial future, Stewart wants to focus on paying off debt, saving, and investing. Having a healthy balance between enjoying life and saving for the future is what she wants to work toward.

For some, participating in budgeting challenges such as the no-buy year can be a great way to set boundaries on your spending and set aside money towards your financial goals. Many people start such challenges at the beginning of the year and commit to keep going until the end, but others start with a no-buy month.

The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.

By DARLENE SUPERVILLE, Associated Press

WASHINGTON (AP) — President Donald Trump is not the first president to want more room at the White House for entertaining, says the longest-serving top aide in the executive residence, offering some backup for the reason Trump has cited for his ballroom construction project.

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Gary Walters spent more than two decades as White House chief usher to presidents Ronald Reagan, George H.W. Bush, Bill Clinton and George W. Bush — a role that is akin to being the general manager of the residence.

“All the presidents that I had an opportunity to serve always talked about some possibility of an enlarged area” for entertaining, Walters said in an interview with The Associated Press about his recently published memoir.

Trump has been talking about building a White House ballroom for years, even before he entered the political arena. In July, the White House announced a 90,000-square-foot space would be built on the east side of the complex to accommodate 650 seated guests at a then-estimated cost of $200 million. Trump has said it will be paid for with private donations, including from him.

The Republican president later upped the proposed ballroom’s capacity to 999 people and, by October, had demolished the two-story East Wing of the White House to build it there. In December, he updated the price tag to $400 million — double the original estimate.

Images of the East Wing being demolished shocked historians, preservationists and others, but Walters said there is a long history of projects on the campus, ranging from conservatories, greenhouses and stables being torn down to build the West Wing in 1902, to the expansion of the residence with a third floor, to the addition of the East Wing itself during World War II to provide workspace for the first lady, her staff and other White House offices.

“So there’s always been construction going on around the White House,” Walters said.

Other presidents bemoaned the lack of space for entertaining

When Walters was on the job, the capacity of the largest public rooms in the White House was among the first topics he discussed with the incoming president, first lady and their social secretary, he said. The presidents he served all talked about the limited number of people the White House could handle.

When set up for a state dinner, the State Dining Room can hold about 130 people: 13 round tables each with seating for 10, Walters said. The East Room can accommodate about 300 chairs — fewer if space is needed for television cameras.

Trump complains often that both rooms are too small. He also has complained about the use of large tents on the south grounds, the main workaround for big events such as ritzy state dinners for foreign leaders. Walters said the tents had issues.

“When it rained, the water flows downhill and the grass became soggy, no matter what we tried to do,” Walters said. “We dug culverts around the outside of the tent to try and get the water.” Tents damaged the grass, requiring more work to reseed it, he said.

Walters admitted it was a bit jarring to see the East Wing torn down, and said he had fond personal memories of the space. “I met my wife at the White House and she worked in the East Wing, so that was a joy for me,” said Walters, 79.

His wife, Barbara, was a receptionist in the visitors office during the administrations of Richard Nixon and Gerald Ford. The couple recently celebrated 48 years of marriage.

Broken bones alter usher’s career trajectory

Walters owes his place in history as the longest-serving White House chief usher to the misfortune of a broken ankle.

He was 23 in early 1970, honorably discharged from the Army and looking for a job that would allow him to finish college at night. The Executive Protective Service, a precursor to the U.S. Secret Service, was hiring and accepted him.

But shortly before the graduation ceremony, Walters broke an ankle playing football. He could not patrol out of uniform, wearing a cast and hobbling around on crutches, so he was given a temporary assignment in the White House Police Control and Appointments Center. He stayed for five years.

“This injury also changed the course of my career,” Walters wrote in his memoir, “White House Memories: 1970-2007: Recollections of the Longest-Serving Chief Usher.” He gained an ”in-depth knowledge of the ways and security systems of the White House that would ultimately greatly benefit me in my future role in the Usher’s Office.”

A few months after being promoted to sergeant in 1975, he learned of an opening in the Usher’s Office. He applied and joined as an assistant in early 1976.

A decade later, he was elevated to chief usher by Reagan, who gave Walters the top job in the residence overseeing maintenance, construction and renovation projects, and food service, along with administrative, financial and personnel functions. He managed a staff of about 90 butlers, housekeepers, cooks, florists, electricians, engineers, plumbers and others.

Walters retired in 2007 after 37 years at the White House, including a record 21 years as chief usher. He served under seven presidents, from Nixon to George W. Bush.

In that time, Walters saw a broad swath of presidential history: the only president who ever resigned, an appointed vice president become the only unelected president, a president be impeached and stay in office, a father and son become president and the Supreme Court decide the most closely contested presidential election in U.S. history.

He’s often asked what he liked most about his work and “without hesitation I say it is getting to know and interact directly with the president, first lady, and other members of their family. It was an honor to get to know them with my own eyes and ears,” Walters wrote.

By WYATTE GRANTHAM-PHILIPS, Associated Press Business Writer

President Donald Trump made a lot of tariff threats and trade promises this year. Many materialized into a barrage of new import taxes that overturned decades of U.S. economic policy — but others have yet to be fulfilled as 2025 comes to a close.

Some of Trump’s unrealized threats reflect a broader approach from a president with a track record of using sky-high levies to pressure other countries into new trade deals, one-up retaliatory measures or even punish political critics. At the same time, they arrived as growing list of tariffs did go into effect — from Trump’s punishing new taxes on imported metals, to tit-for-tat levies with top U.S. trading partners like China — plunging consumers and businesses worldwide into uncertainty.

Here’s what Trump said when announcing some of his biggest (but still unrealized) tariff threats and promises this year, and where things stand today.

External Revenue Service

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In his words:

1. Trump in a Jan. 14 social media post: “For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS) … We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share. January 20, 2025, will be the birth date of the External Revenue Service.”

2. Trump in his Jan. 20 inaugural address: “We are establishing the External Revenue Service to collect all tariffs, duties, and revenues. It will be massive amounts of money pouring into our Treasury, coming from foreign sources.”

What happened: The External Revenue Service has yet to be established as of the end of December. While administration officials continued to reiterate plans for launching the External Revenue Service during Trump’s first months back in office, the entity does not yet exist.

200% tariff on European wine, Champagne and spirits

In his words:

3. Trump in a March 13 social media post: “The European Union, one of the most hostile and abusive taxing and tariffing authorities in the World, which was formed for the sole purpose of taking advantage of the United States, has just put a nasty 50% Tariff on Whisky. If this Tariff is not removed immediately, the U.S. will shortly place a 200% Tariff on all WINES, CHAMPAGNES, & ALCOHOLIC PRODUCTS COMING OUT OF FRANCE AND OTHER E.U. REPRESENTED COUNTRIES.”

What happened: The EU’s planned levy on American whiskey — which it unveiled as part of broader retaliation in response to Trump’s new steel and aluminum tariffs — was postponed, with the latest delay reportedly running until at least February.

Trump’s 200% tariff threat on European alcohol never materialized. But spirits were not included in the EU-U.S. trade deal struck over the summer, which set a 15% rate on most European imports.

100% tariff on foreign-made films

In his words:

4. Trump in a May 4 social media post: “The Movie Industry in America is DYING a very fast death … I am authorizing the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands.”

5. Trump in a Sept. 29 social media post: “Our movie making business has been stolen from the United States of America, by other Countries, just like stealing ‘candy from a baby’ … I will be imposing a 100% Tariff on any and all movies that are made outside of the United States.”

What happened: Despite Trump’s repeated threats, the U.S. has yet to impose a 100% tariff on foreign films. After his initial May promise to initiate the process, the White House said no final decision had been made. Also still unclear is how the U.S. would tax a movie made overseas.

Tariffs on pharmaceutical drugs

In his words:

6. Trump in a Cabinet meeting on July 8: “We’ll be announcing something very soon on pharmaceuticals. We’re going to give people about a year, a year and a half, to come in. And after that, they’re going to be tariffed … They’re going to be tariffed at a very, very high rate, like 200 percent.”

7. Trump in a Sept. 25 social media post: “Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America.”

What happened: The president did not sign an executive order imposing a 100% tariff on pharma products on Oct. 1 and, as of today, no levy has been put into place. But Trump previously suggested that steep levies on pharmaceutical drugs could arrive further down the road, telling CNBC in August that he would start by charging a “small tariff” and potentially raise the rate as high as 250%. Meanwhile, trade agreements with specific countries set their own rates or exemptions — with the U.K., for example, securing a 0% tariff on all British medicine exported to the U.S. for three years. The administration also announced deals with specific companies with promises of lower drug prices.

100% tariff on computer chips

In his words:

8. Trump on August 6: “We’ll be putting a tariff of approximately 100% on chips and semiconductors … But if you’re building in the United States of America, there’s no charge.”

What happened: A sweeping 100% on computer chips has yet to go into effect. When announcing his plans to impose the levy back in August, Trump was not specific about the timing. And other details have remained scarce.

$2,000 tariff dividend

In his words:

9. Trump in a Nov. 9 social media post: “People that are against Tariffs are FOOLS! … A dividend of at least $2000 a person (not including high income people!) will be paid to everyone.”

What happened: Details about how, when and if a tariff dividend will reach Americans are still scarce. Budget experts have said that the math doesn’t add up. And Treasury Secretary Scott Bessent suggested that it might not mean checks from the government. Instead, Bessent told ABC in November, the rebate might take the form of tax cuts. White House National Economic Council Director Kevin Hassett also told CBS News that it’s up to Congress.

By MATT OTT, Associated Press Business Writer

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week with layoffs remaining low despite a weakening labor market.

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U.S. applications for jobless claims for the week ending Dec. 27 fell by 16,000 to 199,000 from the previous week’s 215,000, the Labor Department reported Wednesday. Analysts surveyed by the data firm FactSet forecast 208,000 new applications.

Unemployment benefit filings are often distorted during holiday-shortened weeks. The shorter week can cause some who have lost jobs to delay filing claims.

The weekly report was released a day early due to the New Year’s Day holiday.

Applications for unemployment aid are viewed as a proxy for layoffs and are close to a real-time indicator of the health of the job market.

Earlier this month, the government reported that the U.S. gained a decent 64,000 jobs in November but lost 105,000 in October as federal workers departed after cutbacks by the Trump administration. That helped to push the unemployment rate up to 4.6% last month, the highest since 2021.

The October job losses were caused by a 162,000 drop in federal workers, many of whom resigned at the end of fiscal year 2025 on Sept. 30 under pressure from billionaire Elon Musk’s purge of U.S. government payrolls.

Labor Department revisions also knocked 33,000 jobs off August and September payrolls.

Recent government data has revealed a labor market in which hiring has clearly lost momentum, hobbled by uncertainty over President Donald Trump’s tariffs and the lingering effects of the high interest rates the Fed engineered in 2022 and 2023 to rein in an outburst of pandemic-induced inflation. Since March, job creation has fallen to an average 35,000 a month, compared to 71,000 in the year ended in March.

Earlier this month, the Federal Reserve trimmed its benchmark lending rate by a quarter-point, its third straight cut.

Fed Chair Jerome Powell said the committee reduced borrowing costs out of concern that the job market is even weaker than it appears. Powell said that recent job figures could be revised lower by as much as 60,000, which would mean employers have actually been shedding an average of about 25,000 jobs a month since the spring.

Companies that have recently announced job cuts include UPS, General Motors, Amazon and Verizon.

The Labor Department’s report Wednesday also showed that the four-week average of claims, which evens out some of the week-to-week volatility, rose by 1,750 to 218,7500.

The total number of Americans filing for jobless benefits for the previous week ending Dec. 20 fell by 47,000 to 1.87 million, the government said.