In the new year, Latvia's residents are shying away from big spending, giving preference instead to building up savings and securing their finances, according to a survey on people's financial goals for 2026 carried out by the bank Citadele. The survey shows that in the new year Latvia's residents will be thinking far more often about stability and opportunities for additional income than about travel or lifestyle purchases, pointing to a cautious attitude towards personal finances.

This year Latvia's residents are opting for caution in their financial resolutions – the most commonly planned steps are increasing existing savings or starting to save afresh, as well as looking for additional income. The survey shows that 22% of respondents want to increase the savings they already have, 17% intend to start saving, while 18% will look for ways to raise their income or find an additional source of income. Meanwhile, interest in travel and other leisure spending remains low – only 7% of those surveyed regard it as a priority, confirming that people are currently choosing financial caution.

“The start of the year is like a blank page for all of us – a chance to put in order not only our daily routine, but also our attitude towards money. That is very positive, because financial security means less stress and more freedom day to day. The survey data also clearly show that Latvia's residents are currently focusing on practical goals; first place goes to building a financial cushion and achieving financial stability,” says Ginta Zemgale, Head of Baltic Customer Experience at the bank Citadele.

At the same time, the survey data reveal that some people have begun the new year without any clearly defined financial goals. One in six, or 16% of those surveyed, admit that they have no specific financial goal for 2026, and this tendency is most pronounced in the pre-retirement and retirement age groups – it is reported by 31% of people aged 60 to 74.

According to G. Zemgale, it is precisely clarity of purpose that is the most important precondition for keeping new year's resolutions from fading away in the very first months. “It is important to understand not only what we want to change, but also why. Is the goal a sense of security, buying a home, education or a holiday? When the reason is clear, it is much easier to stick to a resolution,” she explains. As an example, G. Zemgale notes that “I want to save money” is not in itself a goal, whereas a specific plan – say, 600 euros for a holiday by July, which means 100 euros a month – is clear and achievable. At the same time, it is important to remember that healthy financial habits mean first building a financial cushion and only then planning larger purchases.

The expert points out that sustainable financial habits do not form quickly and require patience. In her view, saving should be purposeful and based on realistic steps, while increasing one's income should be approached sensibly, weighing up one's skills, interests and opportunities rather than simply looking for extra work. It is likewise important to start with small sums and gradual changes to everyday spending, because it is precisely this approach that helps establish lasting financial habits.

“There is no need to try to change everything at once. Financial progress is not a sprint, it is a marathon. If at some point you fail to stick to the plan, that is no reason to stop – the main thing is to carry on,” stresses G. Zemgale, adding that regularly topping up one's financial knowledge and reviewing one's own progress also help maintain motivation and discipline over the long term. Clear, realistic goals, along with small, manageable steps, can help achieve bigger results, while the main precondition for change is simple – start today.

The bank Citadele carried out the survey in cooperation with the research agency Norstat in November 2025, polling more than 1000 Latvian residents aged 18 to 74 online.