Rich Habits Podcast – Episode 151: Our 2026 "Money Calendar"

Hosts: Austin Hankwitz & Robert Croak
Date: January 5, 2026

Episode Overview

In their first episode of 2026, Austin and Robert provide a practical, month-by-month financial roadmap ensuring listeners stay on track with essential money tasks all year. By breaking down the year into manageable monthly themes, they aim to prevent overwhelm, helping listeners avoid the common trap of setting ambitious January goals only to abandon them by March.

The episode focuses on actionable habits and benchmarks ranging from budgeting and credit health to taxes, investment reviews, income optimization, and year-end planning. The hosts share personal anecdotes, practical tips, and motivational advice to make 2026 a transformational year for listeners’ financial lives.

Key Discussion Points and Insights

Why a Month-by-Month Money Calendar?

• Avoiding Overwhelm:
  "January hits, you make a bunch of ambitious financial goals and by March you've completely forgotten about them… It's because you're trying to do everything at once. All in January, you get overwhelmed and then do next to nothing for the other 11 months of the year."
  — Robert Kroke (01:25)

• Small Steps for Big Results:
  "Laying things out in bite-sized pieces so people can really figure it out, take control of their money and take those small action steps… This episode is going to really walk you through exactly what to focus on every month of 2026."
  — Austin Hankwitz (02:28)

The 2026 Month-by-Month Financial Roadmap

January – Know Your Numbers

• Calculate your current net worth: assets minus liabilities.
• Download the Rich Habits Honest Budget tool if unsure where to start.
• Consider joining a "No Spend January" (essentials only spending).
• [03:05] "Most people have no idea what their net worth is… Calculating your net worth is simple though. It's everything you own minus everything you owe." — Robert

February – Credit & Debt

• Pull your free annual credit reports from all three bureaus.

• Look for errors and dispute them immediately.

• Create and commit to a high-interest debt repayment plan (Avalanche or Snowball method).

• Use any tax refund to jump-start debt payoff.

• [05:54] "If you're carrying high-interest debt, choose a plan to pay it off and then commit to that plan… Doesn't matter what you do. What matters is you're paying off your high interest debt and you're not collecting more and more of it." — Austin

• Anecdote on Credit Alerts:
  Robert shares a personal story about a dealership mishap affecting his credit, highlighting the importance of monitoring credit reports and setting up alerts. (06:00)

March – Insurance Audit

• Call current providers and price-shop every insurance policy.
• Address term life or disability insurance if someone relies on your income.
• Max out your HSA if you have a high deductible health plan.
• [07:29] "Auto insurance alone can drop by hundreds a year just by shopping around… Don't forget your HSA." — Robert

April – Taxes & Retirement

• File taxes and, if you had a large refund, adjust withholdings.
• Review and increase retirement contributions if possible.
• Set aside Q1 estimated taxes if self-employed.
• [08:30] "Are you on track to max out that Roth IRA or that 401k? The 2026 401k limit is around 23,500." — Austin

May – Mid-Year Check-In

• Revisit your January budget and financial goals.

• Assess progress on savings goals and emergency fund.

• Watch for lifestyle creep.

• [09:14] "If you wanted to save $10,000 this year, you should be at about $2,500 right now. And if you're at $1,500, you need to set a plan to course correct." — Robert

• Reference:
  Tips on lifestyle creep covered in Episode 142 (09:14).

June – Investment Portfolio Review

• Benchmark portfolio performance against primary indices.
• Rebalance to prevent over-concentration.
• Assess fund fees and consider shifting to lower-cost options.
• Beginners: Open a Roth IRA and start auto-investing in diversified ETFs.
• [10:52] "Let's make sure we're not paying high fees when it comes to investing." — Austin

July – Spending Audit

• Pull the past three months’ statements, categorize all spending, and find areas to adjust.
• Create a realistic and intentional spending plan.
• Budget for summer vacations (add 20% for “the stuff you didn’t think of”).
• [11:48] "The point is having accurate data so you can be intentional with how you spend your money." — Robert

August – Income Optimization

• Research your current market value and prepare for future raise negotiations.
• Consider side income (gig work, consulting, freelance, leveraging existing skills).
• Avoid overspending on supplies for new side hustles.
• [12:41] "What feels maybe like a chore now can turn into a prosperous retirement if you play your cards right. But you have to be strategic." — Austin
• Compounding Example:
  Robert suggests using ChatGPT to calculate future value of $2-500/month invested at 8% (13:42).

September – Education & Skill Development

• For parents: Review and contribute to 529 plans.
• For yourself: Pursue certifications or courses that will boost your professional value and income.
• Check for tuition reimbursement/professional funds from your employer.
• [15:30] "If a $2,000 certification leads to a $10,000 raise, that's a 5x return in one year." — Robert

October – Year-End Tax Planning

• Strategize on last-minute retirement/HSA contributions.
• Consider donor-advised funds for charitable giving (donate appreciated assets for a double tax benefit).
• Explore tax-loss harvesting.
• Schedule meetings with your CPA now for year-end planning.
• [16:45] "You have two months left now to reduce your 2026 tax bill... Do it in October, you really need to be talking about this and having these conversations." — Austin

November – Holiday Budgeting

• Set spending limits and assign amounts per recipient.
• Avoid impulse Black Friday/Cyber Monday shopping.
• Use shopping cart hacks: leave big purchases in online carts to wait for discount codes.
• [17:16] "Most people wing the holidays and go into January stressed and broke. Don't be that person." — Robert

December – Finish Strong & Plan for Next Year

• Review your year, calculate net worth again and compare to January’s.
• Complete any remaining retirement or FSA contributions.
• Set financial priorities for 2027.
• [18:31] "Did you hit your goals? Where did you succeed, and where did you fall short? Calculate your net worth again... What did you learn from this year, and how can you apply it to achieving those new goals?" — Austin

Notable Quotes & Memorable Moments

• Overcoming All-or-Nothing Thinking:
  "So many people make big plans for January... and then when they don't do it, they just give up on the year and go right back to the old habits. That stops today with this episode."
  — Robert Kroke (21:01)

• Motivation to Listeners:
  "I am inspired, Robert. I'm ready to run through a brick wall for these people. I could not be more excited for them."
  — Austin Hankwitz (20:22)

• Planning vs. Vacation:
  "Most people spend more time planning their vacations than planning their financial future. That's insane to me… So commit to at least three of these benchmarks. Print the calendar, put it on your fridge…"
  — Robert Kroke (19:35)

Audience Q&A Highlights

Q1: Robinhood vs. Public for Investing? (23:12)

• Summary: Christian, age 26, started investing at $5/day and is now maxing his Roth IRA. He asks about transferring from Robinhood to Public.
• Advice:
  • Platform doesn’t matter as much as consistent investing.
  • Transfers are easy, not taxable, and Public is solid—but invest wherever you’re comfortable.
  • [24:24] "We don't care what platform you use to invest. What we care about is that you invest." — Austin

Q2: Managing $450,000 in Medical School Debt (Sarah, age 27) (25:30)

• Situation: Medical student about to finish with high six-figure debt, plans on higher income soon, debating investing vs. debt payoff.
• Advice:
  • In early career, focus on minimum student loan payments while building investment "base" (aim for $100–$250k invested before aggressively paying debt).
  • Avoid lifestyle inflation; keep living frugally to prepare for future payoff.
  • [29:09] "Don't let lifestyle creep get in the way… take three, four, five years after your base is built and really go hard on getting these debts paid down, you are going to be set for life before you're even 35 years old." — Robert

Q3: Nearing 50 and Preparing for Retirement (Manuel, age 50) (32:11)

• Situation: Manuel and wife have $210k income, $90k rental income, ~$1M real estate, $300k in retirement, kids in school, aim to retire in 10 years.
• Advice:
  • Need more invested in market-based accounts (brokerages, IRAs, 401ks).
  • Maintain current rentals, but focus on diversifying beyond real estate.
  • Aim for at least $1M more in retirement accounts for security.
  • "With $1M+ in real estate and $1.5M in investments, you’ll have $3M+ net worth and diversified passive income for retirement." — Austin (34:44)

Conclusion / Takeaways

• Breaking up your financial goals by month is key to following through and preventing overwhelm.
• Consistency, tracking, and small course corrections are more important than trying to do everything perfectly in January.
• Prioritize tracking net worth, monitoring credit, auditing insurance, benchmarking investments, and pursuing skill development.
• Don’t fall for lifestyle creep, and don’t give up if you falter early in the year—restart the plan any month.
• The Rich Habits Podcast community is there for ongoing support, motivation, and actionable education.

Key Timestamps

• 01:25 – Why most lose track after January
• 03:05 – January: Net worth and budget
• 05:54 – February: Credit & debt
• 07:29 – March: Insurance audit
• 08:30 – April: Tax and retirement check
• 09:14 – May: Mid-year review
• 10:52 – June: Investment review
• 11:48 – July: Spending audit
• 12:41 – August: Income optimization
• 13:42 – Compounding side hustle income
• 15:30 – September: Professional development
• 16:45 – October: Year-end tax planning
• 17:16 – November: Holiday budgeting
• 18:31 – December: Year-end review and planning
• 23:12 – Q&A starts (Robinhood vs. Public)
• 25:30 – Q2: Med school debt strategy
• 32:11 – Q3: Retirement prep at 50

Final Motivation:
"This is your year to crush financial goals, and we're here to help every step of the way." — Robert (19:35)

Community/Next Steps:
Check out the Rich Habits Network for more support, live streams, and community investing opportunities.